What to expect at closing
Most people buy a house a few times in their life and close on one even less often. Here is the whole process in order, in plain English — what happens, what you bring, what it costs, and the questions people actually ask us.
The steps, in order
Every transaction is a little different, and a cash purchase skips a chunk of this. But the shape is nearly always the same.
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01
Agreement of sale
Buyer and seller sign, and the transaction has its terms: price, closing date, contingencies, who pays what. From here on, most deadlines run from this document. A copy comes to us and the file opens.
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02
Title search
We examine the chain of title back through prior conveyances, and look for anything attached to the property — mortgages, judgments, liens, unpaid taxes, easements, rights of way, or an old oil and gas reservation. Most searches turn up something. Most of it is routine to clear.
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03
Clearing title
Old mortgages that were paid but never satisfied of record, an estate that was never properly closed, a misspelled name on a deed from 1974. These get resolved before closing. Where a title issue needs legal work, our business relationship with Haberl, Buell, Rice & Bell PLLC lets us get it handled quickly.
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04
Title insurance commitment
Once title is clear, a commitment issues — the promise to insure, listing what will be covered and what is excepted. Your lender will require a lender's policy. You decide separately whether to buy an owner's policy.
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05
The lender's package
Your loan gets its final approval and the lender sends the closing package. If you are paying cash, this step disappears and closings move considerably faster.
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06
Closing Disclosure
Federal rules require your lender to put the Closing Disclosure in your hands at least three business days before closing. Read it. Compare it to your Loan Estimate. Ask about anything that moved.
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07
Final walkthrough
Usually the day of, or the day before. You are confirming the property is in the condition the agreement requires and that anything that was supposed to stay is still there.
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08
Settlement
Everyone signs, funds change hands, keys change hands. The appointment itself usually runs about an hour.
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09
Recording
We record the deed and mortgage with the Recorder of Deeds in the county where the property sits. Recording is what puts the world on notice that the property is yours.
What to bring to closing
Short list, and every item on it has stopped somebody's closing at some point.
- Government-issued photo ID for every person signing — a driver's license or passport. The notary cannot proceed without it, and an expired ID will stop a closing.
- Certified or cashier's check, or a completed wire for your funds to close. Personal checks are generally not accepted for anything but small amounts.
- Proof of homeowner's insurance and the paid receipt for the first year, if your lender has not already received it.
- Your spouse, where one is on title or required to sign, even if not on the loan.
- Anything the lender asked for in the last week — the requests that arrive late are the ones that hold up a closing.
Wire fraud in real estate closings is common and convincing — criminals monitor email and send realistic-looking changes to wiring instructions at exactly the right moment. We will never email you changed wiring instructions. Call our office at 724-910-8020, a number you already have, and confirm verbally before you send funds.
Who pays what
Your Closing Disclosure is the authoritative list for your particular transaction. These are the line items that generate the most questions.
Realty transfer tax
Pennsylvania charges 1% to the Commonwealth, and local government usually adds another 1%, split between the municipality and the school district. Nothing in the law says who pays it — the agreement of sale does. Around here it is commonly split, but it is negotiable.
Title insurance
Rates in Pennsylvania are filed and regulated, so the premium for a given policy amount does not change from one title agent to another. What can change is whether you qualify for a discounted reissue rate — if the property was insured within roughly the last ten years, it is worth asking.
Recording fees
Set by the county Recorder of Deeds, and charged per document.
Property tax proration
Pennsylvania property taxes run on two different calendars — county and municipal on the calendar year, school district on a July-to-June fiscal year. Taxes get prorated between buyer and seller at settlement, which is why the number rarely looks round.
Lender charges
Origination, appraisal, credit report, and prepaid interest and escrows. These are your lender's, not ours, and they appear on your Closing Disclosure.
If this is your first closing
We love helping people become owners of their very first home, and first-time buyers get the most out of asking early rather than late. A few things worth knowing before the week of settlement:
- Do not open new credit or change jobs. Lenders re-verify employment and pull credit again shortly before closing. A new car loan between approval and settlement can undo the mortgage.
- Read the Closing Disclosure when it arrives. You get it three business days before closing for a reason. Compare it against your Loan Estimate and ask about anything that changed.
- Buy the owner's title policy. The lender's policy protects the lender. The owner's policy is the one that protects you, and it is a one-time premium.
- File for the homestead exclusion afterward. If the home is your primary residence, the county assessment office has an application that can reduce your school property tax. Nobody files it for you.
- Ask us anything, at any point. There is no question we have not heard, and the ones asked early are far cheaper to answer than the ones asked at the table.
Common questions
Do I need a lawyer at my closing in Pennsylvania?
Pennsylvania does not require an attorney at a real estate closing — a licensed title agent can handle settlement. That said, some transactions genuinely benefit from legal work: an unusual title issue, a seller-financed deal, a commercial transaction, or a document that needs drafting rather than filling in. Complete Closings has a business relationship with the law firm of Haberl, Buell, Rice & Bell PLLC, which is how we get that work done quickly and cost effectively when a file needs it.
How long does the whole thing take?
A financed purchase typically runs 30 to 60 days from signed agreement to closing, and most of that is the lender's underwriting. Cash purchases can close as soon as title work is complete, often in two to three weeks. The settlement appointment itself usually takes about an hour.
What is title insurance, and do I actually need it?
Title insurance protects against problems in the property's past — a forged signature generations back, an heir nobody knew about, a lien that was never released. Your lender will require a lender's policy, but that policy protects the lender's interest, not yours. An owner's policy is the one that protects you, it is a one-time premium paid at closing, and it lasts as long as you own the property.
Can I choose my own title company?
Generally yes. Federal law prohibits a seller from requiring, as a condition of the sale, that the buyer use a particular title company when the buyer is paying for the policy. Your realtor or lender may suggest one; the choice is still yours.
How do I send my money to closing?
By certified or cashier's check, or by wire. If you are wiring, call our office at a number you already have — not one from an email — and confirm the instructions verbally before you send anything. Wire fraud in real estate closings is common, it is convincing, and wired money is very difficult to recover. We will never send you changed wiring instructions by email.
What if something is wrong at the final walkthrough?
Tell us and your realtor before closing, not after. Depending on what it is, the parties may agree to hold funds in escrow, adjust the price, or delay settlement. Once the deed is recorded, the leverage is largely gone.
I am buying my first home. What surprises people most?
Three things. That the funds must be certified or wired, not a personal check. That the Closing Disclosure arrives three business days ahead and should actually be read. And that opening a new credit card or changing jobs between approval and closing can undo the loan — lenders re-verify at the end.
This page is general information about the closing process in Pennsylvania. Complete Closings LLC is a real estate closing company and does not provide legal advice; where a matter needs legal work, we can obtain it through our business relationship with Haberl, Buell, Rice & Bell PLLC. Every transaction turns on its own facts — call the office to talk about yours.
Still have a question? That is what we are here for.
From the execution of an agreement of sale to the closing of a transaction, we will guide you every step of the way. Call the office and we will walk through your transaction with you.