home closing process

Buying a home should be an exciting time in your life, whether you’re a first-time homebuyer or you’re moving into a new home to accommodate a growing family. If you’ve never bought a home before or it’s been a few years since your last purchase, you may be wondering what happens after you secure financing and sign the purchase contract for your new home. Our experts at N Title are happy to guide you so you know what to expect when closing on a home in Texas.

In the Lone Star State, home closings are typically handled by a title company, rather than an escrow agent or attorney, as in some other states. Prior to the actual closing, most of the steps involved in a home purchase will already have been completed, including contract negotiations, the home inspection and appraisal, the buyer arranging for homeowners insurance coverage and the seller fulfilling any contract requirements for home repairs. In addition to conducting a title search and providing title insurance, the title company serves as a neutral third party that holds funds “in escrow” until closing and then disburses them to the appropriate parties.

The Home Closing Process

We or your real estate agent can provide you with a specific list of items to bring to the closing table. In the meantime, here’s a general idea of what to expect on home closing day:

  • Traditionally, the sellers sign their closing documents first and don’t necessarily have to attend the closing at the same time as the buyers. The seller’s payoff (if any) and closing costs are deducted from the sales price of the home. The net amount is paid to the sellers by the title company once the closing of the transaction is complete.
  • Whether using cash or financing, the buyers sign their documents and confirm delivery of their funds to the title company for any down payment and closing costs for which the buyer is responsible.
  • Once all documents have been executed and approved and all money is received, the title agent will disburse funds accordingly and file any necessary documents (including the Warranty Deed to transfer property ownership) with the applicable County Clerk.
  • The buyers receive the keys to their new home and the sellers receive their sales proceeds.

At N Title, we’d be honored to be a part of your home-buying experience. When you choose our title agency to handle your real estate transaction, we’ll go the Nth degree to make sure your home closing is as seamless as possible. Contact us today to get started!