Question 1

What documents do I need for closing?

Accepted Answer

Essential closing documents include: your Closing Disclosure (received 3 days before closing), government-issued photo ID, proof of homeowners insurance, certified check or wire transfer confirmation for closing costs, any required inspection reports, and all loan documents provided by your lender. Your loan officer will provide a complete list specific to your transaction.

Question 2

How long does the closing process take?

Accepted Answer

The typical closing process takes 30-45 days from the time your offer is accepted. This timeline includes: loan processing (1-2 weeks), underwriting review (1-2 weeks), appraisal and inspections (1-2 weeks), title search and insurance (2-3 weeks), and final preparations (3-5 days). Your specific timeline may vary based on loan type, property complexity, and local requirements.

Question 3

What should I do during my final walkthrough?

Accepted Answer

During your final walkthrough (typically 24-48 hours before closing): verify all agreed-upon repairs are complete, test all appliances and systems, check that fixtures and items included in the sale remain, ensure the property is in the agreed-upon condition, document any issues with photos, and confirm all personal property has been removed by the seller.

Question 4

How can I protect myself from wire fraud?

Accepted Answer

To protect against wire fraud: Never wire funds based solely on email instructions. Always verify wire instructions by calling your escrow officer directly using a known, verified phone number (not one from the email). Be suspicious of any last-minute changes to wiring instructions. Confirm receipt of funds immediately after wiring. Report any suspicious communications to your lender and real estate agent immediately.

Question 5

What happens on closing day?

Accepted Answer

On closing day, you'll: review and sign all loan documents including the mortgage note and deed of trust, provide certified funds or confirm wire transfer for closing costs and down payment, receive copies of all signed documents, get the keys to your new home (usually after recording), and receive information about your first mortgage payment. The entire closing appointment typically takes 1-2 hours.

Question 6

What are typical closing costs?

Accepted Answer

Closing costs typically range from 2-5% of the home's purchase price and include: loan origination fees, appraisal and inspection fees, title insurance and escrow fees, prepaid property taxes and insurance, recording fees, and attorney fees (if applicable). Your Loan Estimate and Closing Disclosure will detail all costs specific to your transaction.

Your Closing Checklist

Overall Progress

Review Initial Loan Disclosures

Schedule Home Inspection

Property Appraisal

Secure Homeowners Insurance

Title Search and Insurance

Final Walkthrough

Review Closing Disclosure

Prepare Closing Funds

Closing Day

Important Contacts

Loan Officer

Escrow Officer

Real Estate Agent

Helpful Resources

Important Wire Fraud Warning

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