Closing Day: The Final Step Toward Homeownership

Congratulations, you’ve made it to closing day – the final step toward becoming a homeowner! The excitement is palpable, but it’s also a day full of important logistics to ensure everything goes smoothly. Here’s what you need to know.

Where Do I Go?

The closing will typically take place at either the title company’s office or, in some states, your real estate attorney’s office. Not all states require an attorney, so be sure to check with your realtor early in the process. In most cases, closing takes about an hour, during which you’ll sign several documents. While some documents may have been sent to you in advance by your lender, others will require your “wet” signature on the spot.

Will the Seller Be There?

No, the seller will not be in the room with you. You and the seller will sign documents separately, but on the same day. Once the seller signs, and your funds have been processed, the transaction is complete, and you officially become a homeowner! While signing may happen quickly, it can take a bit of time for funds to process before you receive the keys to your new home.

Who Schedules Closing?

Your realtor (or their assistant) will handle scheduling your closing with the title company or attorney’s office. This typically happens after your inspection or option period.

Can I Close Remotely?

Yes! If you can’t be in town, remote closings are common. Your realtor and the title company can arrange for a mobile notary to come to you. No need to stress about being physically present – your home buying journey can still go smoothly from a distance.

How Do I Know How Much Money to Bring?

A few days before closing, your lender will provide you with a final number that reflects how much you owe. Keep in mind, this amount might be lower than you expect because any earnest money you’ve already paid is deducted from the final balance.

How Do I Give the Money?

You’ll typically wire the funds or bring a cashier’s check to the title company. Be sure to confirm with the title company what they prefer. Important Tip: Be cautious about wire fraud – hackers can sometimes impersonate your realtor or title company. Always verify wiring instructions directly with both parties before transferring funds.

And Now What?

Once you’ve signed all the documents and the funds have been processed, you’ll receive the keys and officially become a homeowner! But wait, now you’re asking, what’s next?

Stay Calm, You’ve Got This

It’s natural to feel a little overwhelmed as a new homeowner. You’re not alone! We encourage you to join our Open House Homeschool online community, where you can continue learning and connect with others who are in the same boat.

Watch Out for Junk Mail

Once you own your home, expect to receive a lot of mail – some of which may seem important but is actually just junk. In Texas, for example, the county will send you a letter asking for the amount you paid for the house. You can ignore this; Texas is a “non-disclosure” state, so homeowners don’t have to share that information. We also provide a list of non-disclosure states for your reference in our downloadable resources.

Change Your Locks

This is a simple but crucial step. You never know who might still have a key to your new place, so take the time to change your locks for peace of mind.

Get Involved in Your Community

One of the most rewarding steps after closing is connecting with your neighbors. Introduce yourself, bring over a small gift like a potted plant or baked goods, and show that you’re invested in building a positive relationship. Becoming involved in your neighborhood and local organizations will make you feel more at home and help foster a sense of community.

Welcome to your new home! The journey may seem like it’s over, but the adventure of homeownership is just beginning. Enjoy every step, and remember – we’re here to support you!