The closing officially occurs when all the conditions of the contract have been met, like the mortgage being approved, the title is clean, insurance is in place, etc.
Your lender usually arranges the closing and makes sure that the closing agent has all the necessary documents in place. Most closings take place at the title or escrow company, but can sometimes take place at an attorney’s office. These days we're also seeing more remote closings, which are either done digitally or they come to you (though this is more common with refinances).
What to expect
Here’s what happens at closing:
-You’ll pay your closing costs and your deposit (usually done by wire).
-You’ll fill out a LOT of paperwork.
-You’ll receive the deed to the home in your name, as well as the keys, garage door remotes, etc.
Who attends a closing?
It varies. Usually it’s just you and the closing agent who works for the title company (real estate agents often don’t attend). Other times you might have an attorney, the seller, a lender representative, and more. It depends on the location and the preference of the title company.
What to expect at closing:
Explaining closing documents:
Congratulations on buying a home!