From the contract to the keys.
Understand the closing process, know what title insurance may protect, and learn how to keep your funds safe.
The closing process, explained.
Contract signed
The purchase agreement sets obligations, deadlines and financial terms.
Title researched
Public records are reviewed for claims or defects that may affect ownership.
Figures finalized
Payoffs, lender instructions, prorations and settlement terms are reconciled.
Documents signed
Closing signatures, disbursements and recording are completed as required.
What title insurance actually does.
A title search investigates a property's recorded history. Title insurance is a separate policy that may protect an insured owner or lender from certain covered title defects, subject to the policy's conditions, exclusions and exceptions.
A lender's policy principally protects the lender. An owner's policy is intended to protect the owner's covered interest in the property. Exact coverage depends on the issued policy.
Do I need an owner's policy?
The lender's policy does not ordinarily protect your equity. Ask the settlement professional for details about available owner's coverage, costs and exceptions.
What if a lien appears?
A lien or other defect may need to be resolved, insured around or otherwise addressed under the title insurer's underwriting requirements.
What is the difference between the deposit and cash to close?
Earnest money is typically paid earlier under the contract, while cash to close is the remaining amount required at settlement. Consult your closing disclosure for the actual figure.
Can my wiring instructions change by email?
Treat any unexpected change as suspicious. Call a known, independently verified phone number before moving funds. Never rely only on an email or text containing new bank details.