Closing is the 30–45 days between a signed contract and the keys, and it is where most of the anxiety in a home purchase lives — not because it is hard, but because nobody explains what is happening. Here is the whole sequence, in order, with who does what and what you need to do at each stage: earnest money and escrow, title search, inspection, appraisal, underwriting, insurance, the Closing Disclosure, the final walk-through, funding and recording. Your MLS9 Deal Room tracks every task and deadline; this guide explains them.
Day 1: the contract is signed and the clock starts
The moment both sides sign, the purchase agreement becomes binding and every deadline in it starts counting. Read your contract and write down the dates: earnest money due, inspection period end, financing contingency deadline, appraisal contingency deadline, title objection period and the closing date. Missing a deadline can forfeit a contingency or, in the worst case, your deposit.
Your earnest money — typically 1–3% of price — goes to the title company or escrow agent within one to three business days. It is held in trust, credited to you at closing, and returned if you exit under a contingency. It is never paid to the seller directly.
Open your Deal Room on MLS9. It lists every task with its owner and due date and sends reminders. Tell your lender you are under contract the same day so they can begin processing.
Checklist
- Write down every contract deadline
- Deliver earnest money to the title company within the contract window
- Notify your lender you are under contract
- Open your Deal Room and review the task list
Escrow and title get to work
The title company (or closing attorney, in attorney-closing states) is the neutral party that holds the money, examines the title, prepares the closing documents and records the deed. They open a file, order a title search and send you a preliminary title report or commitment within a week or two.
The title search traces ownership through public records to confirm the seller can convey clear title and to find anything attached to the property: mortgages, liens, judgments, easements, HOA covenants, unpaid taxes. Most issues are routine and are cleared at closing (the seller's mortgage is paid off from the proceeds). Some are not — an old unreleased lien, a boundary dispute, a missing heir — and need to be resolved before closing.
Read the commitment. Look at Schedule B: the exceptions are what your title insurance will not cover. Easements for utilities are normal; a neighbor's recorded right to use your driveway is something you want to know about now.
Checklist
- Confirm the title company has opened a file
- Review the preliminary title commitment when it arrives
- Read Schedule B exceptions and ask about anything unclear
- Raise title objections within the contract period
Days 2–12: the inspection period
Schedule a licensed home inspector immediately; good ones book a week out. Attend. The inspection covers structure, roof, electrical, plumbing, HVAC, appliances and safety items and takes two to four hours. Order specialty inspections where warranted: sewer scope (older homes), radon, termite/wood-destroying organisms, pool, septic, well water, chimney.
Within a day or two you receive a report. Sort findings into safety issues, major systems and cosmetics. Then decide: proceed as-is, request repairs or a credit, or exit under the inspection contingency. Your request must be delivered before the inspection period ends.
Negotiate on substance. A credit at closing is usually simpler than seller repairs — you control the work. If you and the seller cannot agree, you may terminate within the period and recover your earnest money. Once the period expires, you are committed regardless of what the inspection found.
Checklist
- Book the inspector within 48 hours of contract
- Order specialty inspections as needed
- Deliver repair or credit requests before the deadline
- Get any agreement in a signed amendment
Weeks 1–3: the appraisal
If you are financing, your lender orders an appraisal to confirm the home is worth at least the loan amount. A licensed appraiser visits, measures, photographs and compares the home to recent sales, then delivers a report to the lender in one to two weeks. You pay for it (typically $500–$700) and are entitled to a copy.
Three outcomes. At or above the price: nothing changes. Below the price: the lender will only lend on the appraised value, so you either bring the difference in cash, renegotiate the price with the seller, split the gap, or exit under your appraisal contingency. Conditions noted: the appraiser flags required repairs (peeling paint on older homes, missing handrails, safety items) that must be fixed before closing.
Cash buyers can skip the appraisal entirely or order one for their own information. If you are paying cash on MLS9, the closing can be substantially faster.
Checklist
- Confirm the lender has ordered the appraisal
- Review the report when it arrives
- If low: negotiate, bring cash, or invoke the contingency before its deadline
- Address any appraiser-required repairs
Weeks 1–4: underwriting and conditions
Underwriting is the lender verifying everything: your income, employment, assets, credit, the appraisal, the title commitment and the insurance. Expect a list of conditions — updated pay stubs, a letter explaining a deposit, a signed gift letter, proof a debt was paid off. Every day you take to respond is a day added to closing.
Lock your rate if you have not already. Rate locks run 30, 45 or 60 days; make sure yours extends past the closing date with a small buffer. Ask what an extension costs in case the closing slips.
Do not change anything financial during this period: no new credit, no job changes, no large deposits or withdrawals you cannot document, no co-signing for anyone. Underwriters pull a final credit and employment check days before closing, and changes can derail an approval.
Checklist
- Respond to every underwriting condition the same day
- Lock the rate through the closing date plus a buffer
- Freeze your finances: no new credit, jobs or big transfers
- Confirm "clear to close" from the lender
Weeks 2–4: insurance, utilities and the HOA
Your lender requires homeowners insurance in place at closing. Shop two or three quotes two to three weeks out; compare dwelling coverage (enough to rebuild, not the purchase price), deductibles, and coverage for water backup, roof replacement cost and, where relevant, wind or flood. Flood insurance is separate and required in designated zones — check the zone early.
Send the insurance binder to your lender and the title company. Then arrange utilities to transfer into your name on the closing date — electric, gas, water, trash, internet — so you are not without power on move-in day.
If there is an HOA, the title company orders an estoppel or resale certificate confirming dues are current and disclosing any pending assessments. Read the HOA documents you receive: rules, budget, reserves and any litigation. This is your last chance to object under most contracts.
Checklist
- Compare insurance quotes; bind coverage effective at closing
- Check flood zone and add flood insurance if required
- Schedule utility transfers for the closing date
- Review HOA documents and the estoppel certificate
Three business days out: the Closing Disclosure
Federal law requires your lender to deliver the Closing Disclosure — a five-page form with your final loan terms, monthly payment and every closing cost — at least three business days before you sign. The closing cannot happen sooner. This waiting period exists so you can review without pressure.
Compare it line by line to the Loan Estimate you received when you applied. The rate, loan amount and term should match. Lender fees in Section A cannot increase. Some third-party fees can change within a 10% tolerance; others (prepaid interest, insurance) can change freely because they depend on your closing date and choices.
Check the cash-to-close figure and the seller credits (inspection credits, prorated taxes). Ask the lender to explain anything you do not recognize. Certain changes — a rate change, a prepayment penalty added, a different loan product — restart the three-day clock.
Checklist
- Receive the Closing Disclosure at least 3 business days before closing
- Compare every line to your Loan Estimate
- Verify credits, prorations and cash to close
- Ask about anything unfamiliar before signing day
The day before: final walk-through and wiring
Walk the home within 24 hours of closing, after the seller has moved out. Verify agreed repairs are complete (bring receipts and the amendment), all included appliances and fixtures are present, nothing was damaged during move-out, and every system works — run water, flip switches, test the HVAC. Problems get resolved by a credit or a holdback before you sign, not after.
The title company will give you the exact cash-to-close figure and wiring instructions. Call them at a phone number you look up independently to confirm the account details verbally before wiring. Wire fraud in real estate is widespread: criminals send fake instructions from lookalike email addresses, and wired funds are almost never recovered.
Wire the day before if you can; same-day wires sometimes miss the cutoff. A cashier's check is an alternative for smaller amounts where the title company accepts it.
Checklist
- Walk the home after the seller is out; verify repairs and inclusions
- Confirm wiring instructions by phone at a verified number
- Send funds a day early
- Bring government ID and any documents the title company requested
Closing day: signing, funding and recording
You sign at the title company, with a mobile notary, or increasingly online. Expect 45–90 minutes and a stack of documents: the promissory note (your promise to repay), the mortgage or deed of trust (the lender's security), the Closing Disclosure, affidavits, and disclosures. The seller signs the deed. Read what you sign; ask questions; nothing here is a surprise if you reviewed the Closing Disclosure.
Signing is not the finish line. After signatures, the lender reviews the signed package and releases the loan funds — "funding" — which can be the same day or the next. Then the title company records the deed with the county. When the deed records, you own the home and get the keys. In some states this happens in hours; in others, a day or two.
Your first mortgage payment is usually due on the first of the month after the month you close — closing on the 15th means your first payment is about six weeks away. Watch for a notice if your loan is transferred to a new servicer; that is normal.
Checklist
- Sign the note, mortgage and closing documents
- Wait for funding and recording confirmation
- Collect keys, codes, remotes and warranties
- Note your first payment date and servicer
After closing: the first 30 days
Change the locks and garage codes on day one; you have no idea who has keys. Confirm utilities transferred. File your homestead exemption with the county if your state offers one — it lowers your property tax and often has a deadline. Set up your mortgage account and autopay.
You will receive the recorded deed and your owner's title policy in a few weeks; keep them with your closing package. Watch for scams: "mortgage protection" letters and "warranty" offers that arrive after a recorded sale are marketing, not requirements.
Then move in, meet the neighbors, and start tracking your home's value and equity. You just navigated a closing without an agent — with a title company, a lender and MLS9 doing exactly the work they are supposed to do.
Checklist
- Change locks and codes
- File the homestead exemption
- Set up mortgage autopay
- Store the deed, title policy and closing package safely
Common questions
How long does closing take?
Typically 30–45 days from contract for a financed purchase; 10–14 days for cash. Delays usually come from slow document responses in underwriting, appraisal issues or title problems.
What is the difference between escrow and title?
Escrow is the neutral holding of money and documents until conditions are met. Title is the legal ownership and its history. Most title companies do both: they examine title, insure it, and hold escrow for the closing.
Can closing costs change after the Loan Estimate?
Lender fees cannot increase. Some third-party fees can change within 10%. Prepaids like interest and insurance change with your closing date and choices. Compare the Closing Disclosure to the Loan Estimate to see what moved.
When do I get the keys?
When the deed records with the county after funding — often the same day you sign, sometimes the next business day depending on your state and the time of signing.
Do I need an attorney to close?
In attorney-closing states (much of the Northeast and Southeast) an attorney conducts the closing. Elsewhere a title or escrow company handles it. Neither requires a real estate agent.