The closing process: How It Works

Closing on a home purchase or refinance can be a confusing process. Most closings take about 30 days. And although we are here to answer any questions you may have, we have created a sample timeline to help you better understand what to expect during this process.

April 1st

Contract Received

When you have a fully executed contract, send it to us ASAP so we can get started clearing title.

Once we receive the contract we will:

Order the title search
Order the municipal lien search
Order the survey
Order the estoppel

April 1st

April 3rd

Escrow Deposit Due

Most contracts require the buyer to make the escrow deposit within within 3 days. Check your contract terms to make sure you don’t miss the deadline and void your contract.

April 3rd

April 5th

Title Search Complete

We will receive the title search within 2-5 days and notify all parties of any issues requiring attention prior to closing.

If there is an association requiring approval, you should apply to the HOA for approval by this point. If you are obtaining a loan, you should have submitted a loan application by this point. Refer to your contract terms for specifics.

April 5th

April 10th

Municipal Lien Search Complete

We should receive the municipal lien search within 5-10 days and will notify the parties of any outstanding permits or code violations.

April 10th

April 15th

Estoppel Complete

Homeowners associations have 10 days to complete an estoppel request. By this point we should have received the estoppel and can notify the parties of any HOA violations, special assessments, or deliquencies.

April 15th

April 20th

Title Cleared – Ready to Close

At this point your survey should be complete and most title issues resolved. If it’s a cash transaction, we are likely ready to close. If finance, we are likely in communication with the lender awaiting their clear-to-close.

April 20th

April 25th

Closing Prep

A few days prior to closing we will circulate a draft settlement statement to buyer & seller, buyer’s agent and listing agent. We will schedule the closing and work out the final numbers.

Prep the bubbly!