You’ve completed the mortgage application, found your dream home, and now it’s time for the big moment — Closing Day!
But what actually happens at closing?
Typically, the closing takes place at your attorney’s office. During this appointment, you’ll sign several disclosures and other documents required by your lender.
Tip: One of the most important documents is the Closing Disclosure, which outlines all the details of your mortgage loan.
You’ll also need to pay any closing costs. Don’t worry, you’ll know the exact amount ahead of time. Once the fees are paid and the paperwork is signed, your deed will be recorded, officially transferring the property into your name.
And then comes the best part: you’ll receive the keys to your new home!
What Can Delay Closing?
While most closings go smoothly, a few common issues can cause delays:
- Low appraisal: If the home’s appraised value is lower than the sale price, it can complicate financing.
- Financing problems: If the buyer can’t secure final loan approval, closing may be postponed.
- Contingency issues: Problems uncovered during inspections or unresolved contract conditions can slow things down.
- Title concerns: Any disputes or errors in the property’s title must be resolved before closing.
At The HomeOwnership Center, we make the homebuying process as stress-free as possible. From your first appointment to closing day, we’re here to guide you every step of the way.
Learn more about how we help homebuyers like you on our Buy a Home page or call 304-636-9115 to speak with one of our expert advisors.