Closing on a Home

How long does Closing take?

Your purchase contract or refinance agreement designates a targeted closing date. Although the final Settlement conference takes less than an hour, the preparatory steps usually require a few weeks to complete.

What is my Realtor's role in the Closing process?

Even though your Realtor is very knowledgeable about the Closing process, s/he does not perform the actual Closing service. That is done by an Escrow Officer. Realtors do lend valuable assistance with your financing and can help guide you with settlement arrangements.

What do I have to do during the Closing process?

Mostly sit back and relax. Fidelity National Title Company handles all facets of your transaction and keeps you informed throughout the process. You may be contacted for information, from time to time. When all arrangements are made for the designated Settlement conference date, we'll set your appointment at your convenience - even if it must be at other than usual business hours. We are available when you need us. Just ask.

What is Settlement?

Settlement procedures take place during the closing. You will sign documents like the closing statement, mortgage note, and truth-in-lending statement. The Disclosure Statement is released, money is exchanged, all paperwork and agreements are signed, and the title of property is transferred. This is your final step before calling the property your home.

When do I make the Down Payment?

Most homeowners contribute a down payment on his or her new property. The down payment is a percentage of the purchase price that the buyer pays in full before closing. The larger the down payment, the smaller your mortgage will be.

When you go to the closing, you will need to have a Cashier's Check or Money Order made out to the Title Company's name. The amount will include your down payment plus closing costs associated with the purchase. Know exactly what is included in your closing costs and total amount you will be expected to pay at the closing.

Once the loan funds and closing statements are issued, checks written and forwarded, escrow is closed, and the final accounting is done, you receive the keys to your new home. Congratulations!