Understanding the Closing Process

Closing day is the final step in your home buying journey, and it's essential to understand what happens on this pivotal day. In Texas, the closing process involves several parties, including the buyer, seller, real estate agents, and possibly attorneys. This property settlement is where the title of the property officially transfers from the seller to the buyer.

Preparation is Key

The preparation for closing day starts well in advance. As a buyer, you should ensure that you have your financing in order, any agreed repairs have been completed, and all necessary documents have been reviewed. It's also critical to conduct a final walkthrough of the property to ensure it's in the condition agreed upon in the contract.

What to Bring to Closing

Bring your government-issued ID and any remaining funds needed for closing. These funds typically cover the down payment and closing costs and are most often required in the form of a cashier’s check or wire transfer. Check with your lender or closing agent about the preferred method.

Understanding Documents and Fees

During the closing meeting, you will sign several documents, including the deed of trust, promissory note, and closing disclosure. The closing disclosure itemizes the fees and charges you will incur. Make sure you have received a copy at least three days before closing to review for any errors.

After the Closing

Once all paperwork is signed, and funds have been transferred, you will receive the keys to your new home. In Texas, possession typically happens on the same day unless otherwise agreed. Take some time to celebrate this significant milestone!