What To Know About The Closing Phase When Buying A House

Are you obtaining a loan to pay for your home? If so, you’ll have to undergo a phase known as closing. This is the final phase of any mortgage loan process, and understanding what lies in store for you can help ensure you make the right decisions for a smooth process and successful owner of the home.

That said, let’s talk about the closing phase:

How Does Closing Work?

Closing is the process of transferring ownership of real estate from the seller to the buyer. It is when the buyer receives the deed to the property. It is the last step of the home buying process, and it can be a hectic time for the buyer and their real estate agent.

The goal at closing is to ensure that all the information about the loan is accurate and that the funds for the loan are available to the buyer. The buyer and seller and their real estate agents and attorneys attend the closing to ensure everything goes smoothly.

What Happens at a Closing?

The last steps of the closing process including paying the down payment and other closing costs, as well as receiving the deed. The buyer chooses how they want to pay the down payment and closing costs, paying part of it before the closing and paying the rest at the closing. The seller usually pays the seller’s closing costs.

In addition to closing costs, the buyer is responsible for paying the amount they owe to their mortgage company at closing. This amount comes out of their down payment and closing costs. The mortgage company will give the buyer a check to pay the lender, which the buyer’s attorney can hold on to until the closing.

What Should I Expect On Closing Day?

On closing day, the buyer and the seller meet with their attorneys and real estate agent to attend an afternoon or evening session with all their documents. If the buyer paid their down payment and closing costs upfront, they would have received their deed one day before the closing date.

To keep the process moving smoothly and make sure no information is lost, the people at the closing should have organized files with all the necessary documents. The buyer and seller should each bring the following:

The deed for the property.

A copy of their loan application.

A canceled check for the down payment and closing costs.

A settlement statement.

A current insurance certificate.

Two valid IDs.

The buyer’s title insurance company should be present as well to check on the title for the property. The real estate agent and their attorney should also attend.

The buyer can expect the closing to take several hours to complete. First, the buyer signs a number of documents, then the seller signs their documents and is officially transferred their deed. When this is complete, the buyer is finally considered the owner of the property.


Put simply, closing is the last step in the home buying process. It is when the buyer receives the deed to the property and is officially the property owner. That said, many people say they feel anxious when they are going to close on their home. But with a little preparation and proper expectations throughout the process, the closing will not be as nerve-wracking as you may have thought it would be.

Hawkins Home Loans is your go-to online resource for stress-free, low-rate, and stunning services. If you are looking for home loans in CA, get in touch with us today!