Guide III
Closing Day
Closing day is mostly paperwork and patience. You sit at a table, read and sign a stack of documents, the money moves, and at the end the home is yours. Knowing what to expect makes it a calm hour instead of a tense one.
Before you leave home
- Photo ID. A current government-issued photo ID for everyone signing.
- The money, already arranged. Most closings expect the cash to close by wire transfer or certified funds, arranged in advance.
- Your Closing Disclosure. To compare against the final papers.
- Time. An hour or two is common. Do not book the removal van for the same minute.
Wire fraud warning. Criminals send convincing emails with fake wiring instructions during home purchases. Never trust instructions that arrive by email alone, especially if they change at the last minute. Confirm them by calling a phone number you already know and trust, not one in the message. If something feels wrong, stop and call.
Who is at the table
It varies by state. Closings may take place at a title or settlement office or, in some states, with an attorney. A closer or notary guides you through the papers. The seller may sign separately, at a different time or place. Some closings are partly or fully electronic.
The papers you will sign
| Document | What it does |
|---|---|
| Closing Disclosure | The final statement of loan terms and costs |
| Promissory note | Your promise to repay the loan on the stated terms |
| Mortgage or deed of trust | Secures the loan with the home, so the lender can act if payments stop |
| Deed | Signed by the seller, it transfers ownership to you |
| Affidavits and declarations | Statements about your identity, occupancy and other facts the lender relies on |
| Initial deposit statement | Shows the starting balance of any account the lender uses to pay taxes and insurance |
You are allowed to read everything, and to ask what any page means. A good closer expects questions.
Funding, recording and the keys
- Signing. All parties sign the documents.
- Funding. The lender releases the loan money and the funds are distributed.
- Recording. The deed and mortgage are filed with the county or local recorder.
- Keys. Once funding and the contract terms are met, keys, openers and codes change hands.
The first week after
- Store your closing documents somewhere safe, digital and paper.
- Change or rekey the locks and reset any door or alarm codes.
- Set up utilities in your name if you have not already.
- Watch for your first mortgage statement and set a reminder for the payment date.
- Ask your local tax office whether a homestead or similar exemption applies.