VA Rate Buydowns ExplainedShould I buy down my interest rate or lock a rate without a buydown cost and just refinance later? Should I buy down now and still plan to refinance later? Should I do a
THE CLOSING PROCESS - FAQ
Dated: December 3 2022
Views: 42
WHAT HAPPENS DURING CLOSING?
On closing day, buyers will sign between 50-100 pages of paperwork to finalize the purchase of the property. This includes property transfer documents and any loan paperwork. If the property purchase does not require a mortgage, the process will be much quicker.
The documents, such as the deed, the loan paperwork, disclosure forms, etc. will be explained to you. Don’t feel pressured to rush; take your time to read each page and don’t be afraid to ask questions.
ARE THERE CLOSING COSTS?
You’ve already paid an earnest money deposit at the start of the contract, but there are a few more fees before the purchase will be finalized. These costs usually include the home inspection, homeowner’s insurance, appraisal fee, and credit report charges.
Before closing day, your lender will provide you with a figure that includes:
- Down payment amount
- Prepaid interest
- Closing costs
- Required property taxes
- Prepaid homeowners insurance
WHAT DO I NEED TO BRING WITH ME?
To make sure everything runs smoothly, you’ll need to bring a few things to your closing appointment.
- Non-expired photo ID
- Final closing payment
- Proof of homeowners insurance
I’M BUYING AND SELLING PROPERTY, CAN THEY CLOSE AT THE SAME TIME? Simultaneous closings seem efficient, but with so many different parties to the transaction, it’s usually easier to schedule them on the same day instead of at the same time.
WHEN DO I GET THE KEYS?
The title company and your lender will finish the funding process. After the transfer of funds has been verified, the keys can be released. In some cases, The title company may have your keys, in other instances the keys transfer between real estate agents. Be sure to discuss the transfer of garage door openers and other security items.
If the seller is staying in the home after closing (a lease back), you may receive “rent” during this period, and the seller will transfer the keys after the agreed upon move-out date.
WHEN CAN I MOVE IN?
If your keys have been released, you can move in! However, delays can happen. You may consider scheduling your moving date a few days after closing in case complications arise.
**SHOULD I KEEP ALL OF THESE DOCUMENTS?
**Copies of your final executed closing documents will be bound together and given to you. Your final title policy will arrive in the mail within 30 days of closing. Some documents may be needed for tax reporting purposes and your lender, if you have one, will inform you of your payment schedule. If you plan to live in your new property, you can also submit documentation for a homestead exemption.
Rebecca Wooten
I'm Rebecca Wooten, and my life revolves around being a wife, mother, cherished friend, and dedicated Realtor. For nearly two decades, the Northwest Hill Country/Lake Travis area has been my home and ....
Latest Blog Posts
It’s Spring! Here Are 10 Ways To Apply Some Spring Cleaning To Your BusinessWhen the weather warms up, it’s a good time to clean out the nooks and crannies and not just the ones in your
Austin Board of REALTORS® Copyright ©2026 All rights reserved.
Information provided courtesy of LERA MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is believed to be accurate but not guaranteed. Provided courtesy of LERA MLS. Copyright 2026 LERA MLS, All Rights Reserved. Data last updated September 23, 2026 2:09 AM UTC
Central Texas MLS | Four Rivers Association of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties
