Everything between "accepted" and "keys"

A title company searches public records to confirm the seller can legally transfer the home, clears liens, issues title insurance that protects you against surprises, and acts as the neutral closing agent: it holds the earnest money, collects funds from you and the lender, pays everyone off and records the deed in your name.

Attorney-closing states require a licensed attorney to conduct or supervise the closing: Connecticut, Delaware, District of Columbia, Georgia, Illinois, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Rhode Island, South Carolina, Vermont, West Virginia. Everywhere else a title or escrow company handles it, though you can always hire an attorney to review your contract.

Escrow is a neutral third party (the title or escrow company) that holds money and documents until every condition of the contract is met. Your earnest money goes into escrow at the start; your down payment and the lender's funds go in at the end; the escrow agent releases everything only when both sides have performed. After closing, "escrow" also refers to the lender account that collects your property taxes and insurance with your monthly payment.

Criminals impersonate title companies and email fake wiring instructions days before closing. Never wire money based on an email alone. Call the title company at a number you looked up yourself, confirm the account name and number, and treat any "updated" instructions as fraud until verified by phone. Read our wire-safety guide before you send a cent. Wire-safety guide →

Buyers typically pay 2–5% of the purchase price (more with a loan, less with cash); sellers typically pay 1–3% plus any agent commissions. With MLS9 there are no listing or buyer agent commissions, which is usually the single largest line on a seller's statement. Use the calculators above for a state-specific estimate.