The closing date is the day that you request to take ownership of the home. Typically it’s 30-45 days after the Final Acceptance Date. It can also be a negotiation tactic to have a quick closing date as it’s less time the seller has to hold the home and pay taxes and mortgage.

In the time between the Final Acceptance Date and the Closing Date, you’ll end up working more with the title company and your loan officer. The title company is the glue that holds the transaction together. They are responsible for gathering all of the paperwork from all of the appropriate parties (buyer’s and seller’s agents, loan officers, county agents, etc.). They make sure that when the closing comes, you’re taking control of a clean title. The closing day was established in the purchase agreement but the title company will be your point of contact to set up the time and location of the closing. They will also be the ones that tell you what you’ll need to bring on closing day. They will also ask for documents throughout the process, including:

  • Copy of the earnest money leaving your account.

  • Verification of employment.

  • W2s

  • Complete copies of tax returns from the previous two to three years.

  • Tracking of any gift funds.

During this time it is important you do not open any new lines of credit or make changes to any of your current credit accounts without first talking to your loan officer.

In preparation for closing you’ll want to put the utilities in your name starting on the day of closing. You will also want to set up a final walkthrough of the home with your agent. This is just to verify there are no new issues that may have come up between the inspection and the closing day that you did not already know about. If an issue did arise, or something was not taken care of on your inspection requests, you can come to a solution at closing since typically all parties are there.

Once the Closing Date arrives, you will go to an agreed upon location (either the title company’s office or the agent’s office). Be prepared to sign lots of documents. The process usually takes 45 minutes to an hour. Almost always, you’ll receive the keys at closing and take immediate possession of the home. Congratulations, you just bought a home!