Most Redditors report having a straightforward closing experience. Do your homework, but even the most prepared can hit snags at the closing table.
Closing day is the long-awaited final step in the homebuying process. Most often, closing occurs at an attorney or title company’s office, and involves you signing paperwork, transferring funds for your down payment and closing costs, and officially taking ownership of your new home.
But while it sounds simple – and most of the time it is – don’t just take our word for it. Instead, let’s have a look at what some of the users on Reddit have to say about their experiences at the closing table.
What’s the Process Like?
“Our closing was scheduled for 10am at the title company’s office. It was only us, our realtor, representatives from both real estate attorneys offices, and the representative from the title company,” comments Redditor lnbecke1331.
They then go on to recall, “Our real estate attorney walked us through all of the paperwork and made sure we signed everything correctly and answered any questions we had. The seller had signed all the paperwork the day before so her attorney was there to double check the signatures and collect all of her paperwork once we signed it.”
Another user, browngirl31, points out that the closing process – where it takes place and who’s present – can vary based on your local regulations and customary procedures.
“This is actually really state dependent. In our state, it was just us (buyers) and our lawyer,” they say. “In my moms state, buyers and sellers are present, and lawyers are optional.”
Keep in mind that you may not even need to meet in person. Sometimes, the entire closing process can be completed remotely.
“We bought in Ohio and closed from Florida, right in our home office. Was super convenient. Zoom-type A/V conference with the title agent and a notary. Didn't even need a pen,” reports Redditor FizzyBeverage.
How Many Documents Will You Sign?
A few users, however, emphasized just how much paperwork you’ll be dealing with. “You will sign your name on apparently every piece of paper that exists on this earth. When you think you are done, they will bring in another stack,” says thelessertit.
Chubbierunner reiterated this sentiment and pointed out that it may not be possible to read through everything at the closing table:
“We signed off on about 100 pages on closing day. It’s not possible to read it all before signing. In most places, you are initialing. It probably took me and my husband about 10 minutes each to initial and sign everything that was placed before us.”
Tip: Ask for a copy of your closing documents a few days in advance so you have enough time to review everything properly.
Getting the Keys
You'll commonly receive the keys to your new home as soon as you're finished at the closing table. This could be done in person if the seller's agent is present, or the keys could be left in a lockbox at the home if the agent isn't, or in the case of a remote closing.
Sometimes, however, you may not receive the keys until the next day or after. User fun_guy02132 shares, “Often you won’t get the keys at closing. The house isn’t officially yours until the paperwork is filed at the registry of deeds. If your closing is late Friday afternoon it’s possible you won’t get the keys until Monday, so keep this in mind when you schedule things.”
“It will actually depend on your state. In California (NorCal) we don't do same day closings. You go in and sign your loan docs, they are returned to the lender who funds the next day. Once all funds are in, your deed is taken to the County Recorder's office. Once confirmation of recording comes in, you are officially closed and can be handed the keys,” says seemoni.
They then add, "Remember, real estate is handled on a state level and practices can vary widely from state to state.”
How Long Does Closing Take?
How long should you expect to spend at the closing table? By and large, most Redditors report that their closing took between 30 minutes and 1 hour, though this can vary in some scenarios.
“Took me an hour to sign the papers, probably even including driving there. They had sent them digitally to review so I knew what I was signing, which took a good chunk of time to review the night before,” says Redditor WhatuKnowAboutMoney.
Salamandas411 shared a similar experience, noting that several variables could influence how long your closing will last.
“Ours was about an hour for the walk through and then an hour for the signing. But I'm sure this stuff differs for each state and each county in the state. I know we had to sign things that were specific for our county and our state. It also will depend on how many questions you have. Also, in our case, the sellers had already signed so it was just us,” they mentioned.
Closing remotely? You can expect the process to take about the same amount of time, since you'll still follow the same procedure, just without meeting in person.
“Digital closing takes about 45 minutes. Depends on the particulars and often, your state,” comments user FizzyBeverage.
Closings May Occasionally Run Longer
Sometimes, however, the closing may not always move so quickly. Few_Variation_7962 shares their experience of it taking far longer.
“I once spent 6 hours at a closing because the buyer read every page and asked the attorney I worked with [to answer] every question and [they] made sure the buyer felt confident she understood what she was signing.”
Few_Variation_7962 goes on to give some wise advice: “This is a huge purchase, if you don’t feel comfortable with signing something then ask about it.”
Documents to Pay Attention To
Like some Redditors have mentioned, you'll be signing a lot of paperwork at the closing table. Many of these documents will depend on what's required in your state and locale, though most will be standard forms that apply to all real estate transactions.
Regardless of your location, however, there are some essential documents you'll want to pay attention to. These will include the:
Promissory note
Security instrument (such as the mortgage note or deed of trust)
Deed to the property
So, what exactly should you be on the lookout for? Let’s hear some of Reddit’s best suggestions.
“Check the closing disclosure! I have seen many instances where we get it prior to closing, then something changed at closing, or even we saw a mistake on the review, were told it was fixed, but at closing, it wasn't. The only other thing really would be the Deed - making sure no errors,” recommends user Cash_Visible.
Realestatemajesty adds a few suggestions of their own: “Check that all credits/seller concessions you negotiated actually appear on the settlement statement also make sure property taxes are prorated correctly and any inspection repair agreements are reflected and verify homeowners insurance is paid.”
Review Your Documents Ahead of Time
Redditor GenioCavallo points out that federal law requires that you receive the closing disclosure at least three days in advance.
“The three-day rule for the delivery of the Closing Disclosure form is a part of the "Know Before You Owe" mortgage initiative from the Consumer Financial Protection Bureau (CFPB). This rule ensures that consumers receive this form with ample time to review it before the closing,” they write.
“I work at a title company and often we will have agents ask to review their documents with their clients before closing,” says PowerfulAd2723.
“We prefer to do that instead of finding out something wrong at the closing table like people not using their real names on their ID's or buyers/sellers/agents not letting us know they wanted to sign under a trust instead of their individual names,” they add.
Additional Resources Are Available
The most helpful advice, however, came from Redditor twinski589. “The CFPB has a closing checklist and explainer for closing docs (in addition to lots of other resources for mortgagees).”
They continued by pointing out another practical resource: first-time homebuyer courses. “Our first time home buyer course also had a module walking through the closing docs - we did one called Credit Smart Homebuyer U through Freddie Mac.”
What to Bring to Closing
Most Reddit users report that their closing experiences went off without a hitch. It's vital, though, to come prepared. Here are some things Redditors mentioned they needed to bring with them to their closing.
“The only things I needed were two forms of ID (drivers license and passport) and a cashier’s check for the cash to close,” recalled rottentomati.
Cashier’s Checks vs Wire Transfers
Sometimes, though, you may not even need to bring a cashier's check. In some areas, it can be customary to do a wire transfer instead.
“Depends on the title company what they prefer- wire, cashiers check, etc. you would need to wire money a day or two in advance of the closing. Other than that I would ask if you need to bring personal check in case there are last minute updates to the closing amount,” says Kabi1930.
If you are doing a wire transfer, however, iTand22 reiterated Kabi1930’s message that you may need to arrange for the funds to be sent in advance. “Our loan officer sent us like 3-4 reminders that we had to wire the title company our cash to close at least 2 business days before so the money had time to transfer and settle.”
One last word of advice: if you’re getting a cashier’s check, make sure your funds are in the correct account.
“Be sure the amount you need is in the bank account that you plan to get the cashier's check from. A transfer can take 1-3 days and will delay closing. I keep my savings in an online-only account, so at least a week before closing I had to initiate a transfer into my local checking account to be prepared,” comments user OneRedSent.
When Things Go Wrong
Most Redditors report that their closing day was an exciting albeit largely monotonous experience. Sometimes, though, things don't always go according to plan. Let's look at a couple of stories where things went wrong and how you can avoid the same outcome.
Securing Your Mortgage
”A completely uneventful contract made it all the way to the closing table. Everybody signed their documents. In my state you sit at the table and wait till everything's finalized, the loan is funded, deed recorded, and then everybody walks away with their keys and checks,” recalls Redditor nikidmaclay.
It sounds like all is going well at that point until they go on to add:
“The buyer, seller, their agents, and the loan officer are sitting at the table chit chatting when the buyer mentions that they're going to go out immediately and start enjoying their retirement in the beautiful lake house he just bought. He had retired the day before from the job that qualified him for the loan. No one walked away with keys or checks that day.”
The moral of the story? Your mortgage isn’t guaranteed until you close on your home. Don’t make changes that could affect your mortgage approval – such as quitting your job – until your purchase is said and done. Also, avoid financing any large items, such as a new vehicle or furniture for your home, until after closing.
The Importance of the Closing Walkthrough
Another user, Cobra-Ky500, highlights the importance of doing a last-minute walkthrough before you attend the closing:
“I almost bought a house and did the final walk through the day before closing. On our way to closing we decided to drop by the house and drop off a car, as it was on the way and my wife and I could ride together and not take a truck and trailer to the title company. When we got to the new house the garage door was wide open and no one was around for miles.”
Things only went downhill from there.
“We walked in the house and the sellers had removed EVERYTHING overnight after the final walkthrough. When I say everything I mean bathroom mirrors, the kitchen faucet, bar stools that were negotiated to stay, blinds and the best one…the fireplace mantle. We went to closing needless to say not very happy. We told them to keep their house. We would find another.”
Be Prepared for Anything
Sometimes, stories were more comedic than catastrophic, as illustrated by thelessertit sharing their messy closing experience.
“The only notable thing that happened to me was that my closing had both me and the sellers in the room to sign at the same time (sometimes this happens, sometimes it doesn't) and they turned up with their toddler, apologizing that he had dumped a whole jar of spaghetti sauce all over his head just as they were about to leave, so I did all this signing while being stared at across the table by a damp goblin child that smelled like an Italian restaurant.”
In Summary
Most of the time, there isn't much to worry about by the time you make it to the closing table. If your mortgage has cleared underwriting and the closing coordinator says everything is good to go, you're unlikely to run into issues. Plan for a brief meeting – typically an hour or less – where you’ll sign stacks of paperwork, finalize your purchase, and walk away as a proud homeowner.
