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What is a Real Estate Closing?

August 19, 2019

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If you've ever purchased a new home or any type of real estate, you have heard the term real estate closing. A real estate closing, which might be referred to as a mortgage closing or a settlement, is the last step of the real estate purchasing process. It is the last thing a homeowner will do before getting the keys to their new home. The closing typically takes place 4 to 8 weeks after the buyer and seller reach an agreement. By the time you sit down at the closing table, both parties are ready to sign the paperwork that officially closes the transaction between buyer and seller. As long as everything is in order, the seller will walk away with the money and the buyer will walk away with the keys to their new home (or whatever piece of real estate they've purchased).

Real Estate Closing
If you have never been a part of a real estate closing, you'd be in for a big surprise. A closing is taken very seriously and it can be a bit intimidating to first timers. There is a great deal of paperwork to sign. Everything has to be in order before the closing can occur. If one element of the closing is out of place, it can affect the entire transaction and even delay the sale of the property. That's why a closing company is such an important part of the process.

As for who is in attendance at the closing, it can vary. Some of the people that will likely be present include your real estate agent, representatives from the title company, someone from the title insurance company, representative from the escrow company, attorneys for buyer and seller, and a representative of the lender. There could be others as well. It isn't necessary that buyer and seller attend the real estate closing at the same time, but they can be.


Here are some of the things that need to take place at a real estate closing. This will give you an idea of how important this part of the purchasing process is:

  • The lender sends the funds to the title and escrow company or closing attorney. This money goes to the buyer once all of the paperwork is signed and everything is filed.

  • Identification needs to be verified. Government-issued I.D. is expected to ensure all parties present are who they say they are.

  • An attorney or representative of the title company will go over all of the documentation with buyer and seller. Any questions you have can be answered here. Now is the time to clear up any questions you have before purchase is final.

  • All required paperwork is signed by all parties involved. This process is long and might seem redundant since many documents are similar. All of the documents are necessary and will be filed accordingly at the end of the process.

  • A loan officer can answer questions or take care of any concerns about your loan. It's extremely important you understand the terms of your loan, due dates, etc.

  • Notarized Paperwork
  • All paperwork will be notarized. If you use a title and escrow company to handle your closing, there will be a representative at the closing to take care of everything from walking you through the paperwork to notarizing and filing all necessary paperwork. This is why a title and escrow company can be beneficial, especially if they offer a full range of services. It can minimize the number of people or agencies involved, simplifying a process that can be complex.

  • The title search will be updated to ensure there are no new or undetected title defects. This final look at the title helps make sure all of the information pertaining to the loan has remained the same. Unfortunately, any previously undiscovered information about the title will hold up the closing process.

  • The deed and mortgage are recorded. A full-service title and escrow company takes care of this for you behind the scenes.

  • Distribution of escrow funds, keys to the home, and all appropriate documents will happen at this time, just before closing is complete. The escrow account, which is held by a third party, releases the contents of the escrow account only when the appropriate paperwork has been signed and all details have been verified.

If all of this sounds like a process, that's because it is. That's why it is so important to have a title and escrow company with the experience behind them to handle your real estate closings. At Key Title & Escrow, we can get you through your real estate closing efficiently and with as little stress as possible. That's because we are a full-service title and escrow company with more than 23 years in the business. During that time, we have built a solid reputation as leaders in the real estate closing industry. We offer a full range of title and escrow services, property title searches, judgment and lien searches, Florida title insurance, record owner searches, and residential title services. This means you can have one company handling everything, which helps make the process more streamlined and efficient all the way around.

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Call 305-235-4571 or click one of the 3 options to get your quote online

Our number one priority is to provide our customers with the highest level of customer service and professional closing services in the industry. To make it even more convenient, we offer weekend closings as well. Key Title & Escrow is a big enough company to handle even the most challenging real estate closings but small enough to give each of our clients the personal attention they deserve. Key Title & Escrow is the leading title and escrow company in Florida. We offer statewide closings, so no matter where you are in Florida, Key Title & Escrow can facilitate closing. We always have your best interest at the heart of everything we do. When you're ready to close on your new home, contact the real estate professionals at Key Title & Escrow. Let us show you how our title and escrow services are the best in Florida. Contact us by calling (305) 235-4571 / (800) 547-0006 or by filling out the form here on our website.

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