Closing on a House & The Real Estate Home Closing Process

Home Buyers Guide - Buyers Agents

The Closing Process

Due Diligence

Once the offer is accepted by all parties, the closing process begins. Typically, there is a due diligence period that allows the buyer to have an inspection performed and evaluate other aspects of the property. In addition, there may be a financing contingency or other contingencies that were negotiated in the final offer. These must all be successfully concluded for the process to continue to final closing. The closing completes the mortgage transaction. Loan documents are signed, the title is transferred from seller to buyer and you leave with the keys to your new home.


Home Inspection, Home Warranty and Home Owners Insurance

Most home purchases are contingent upon an independent home inspection. For instance an inspection will reveal if a home has suffered any major damage, including water damage, mold, faulty heating, roof damage or foundation damage. A trained professional can point out many problems you can’t see with casual walk-through. The results of the inspection can give you leverage in negotiating the final price and terms for the home. For protection after the closing, we provide home owner’s insurance and home warranty options that can help you avoid major expenses and offer peace of mind.


Closing Documents

When you close on your home, you will be required to sign a long list of documents. This includes everything from documents confirming your intent to pay back your loan, the title, documents from state and local agencies, along with your home owners insurance. Below is a list of documents you should be prepared to sign. Your agent and closing attorney will explain everything and help you through this process.


  • Settlement Statement
  • Truth in Lending Act
  • Mortgage Note
  • Deed of Trust
  • GRMA Disclosure
  • Representation Disclosure
  • Promissory Note
  • Riders
  • Waiver of Borrower’s Rights
  • Survey /Termite Waivers or Hold Harmless Forms
  • Escrow Account Statements
  • IRS Form W-9
  • IRS Forms 4506 / 8821
  • Occupancy / Employment Affidavit
  • Flood Insurance
  • Borrower’s Certification and Authorization
  • First Payment
  • Certified Check for Closing Costs
  • Home Owner’s Insurance Policy
  • Additional Insurance Policies
  • Proof of Payment