the closing process

Buying a house is an exciting time and the more you know about the process, the more relaxed you'll be going through it. ALTA partnered with the Designing Spaces television series on Lifetime to explain to homebuyers the closing process and the importance of purchasing an owner's title insurance policy.

Before Closing:

Once the purchase agreement has been signed and your loan has been pre-qualified, there is a lot going on behind the scenes to help make your closing happen as scheduled.  Here is how the process works:

Step 1: The title insurance company receives an order from your realtor or your lender.

Step 2: The title company will perform research and look for potential problems that could delay the closing date.  Your lender begins gathering the documentation they need for your loan and the realtor works on the provisions in the purchase agreement.

Step 3: Everyone works together to get requirements shown on Schedule 1B taken care of.  Some of these requirements will be handled at the closing.  They also work together to make sure all provisions in the purchase agreement will be met by closing.

Step 4: The title insurance company, realtors, lender, and attorneys work together to prepare all of the documents needed to close.

Step 5: Your realtor, the lender, or the title insurance company will contact you to coordinate a closing date and time.


At Closing:

Now that the closing date is here, we are ready to make things official!

Step 1: If possible, both buyers and sellers should be present for closing.  We recommend that buyers come 20-30 minutes prior to the sellers in order to sign loan documents.  Everyone will need to bring their driver’s license with them. 

Step 2: The loan package is signed with the title company and the lender. 

Step 3: The sellers and realtors join us for closing and everyone signs the remaining closing documents.

Step 4: The title company will give copies of all documents for you to retain for your records.

Step 5: The title company will disburse the funds to complete your closing.


After Closing:

Keys in hand, you get to start unpacking and making the place your own.  While you take care of making that house into your new home, we are all still working for you.

Step 1:  The title company delivers the Deed and Deed of Trust to the County Clerk for recording.

Step 2:  The Clerk’s Office records the documents and returns them to the title company.  In the meantime, your lender reviews everything for compliance.

Step 3: You will receive your title insurance policy and the original recorded Deed in the mail within 30 days of closing.  The loan policy will be delivered directly to your lender.