# What to Expect at Closing: A First-Time Buyer Guide

Closing day is the final milestone in your home-buying journey. After searching for homes, negotiating contracts, completing home inspections, and finalizing mortgage underwriting, closing is where legal ownership of your new Burleson home officially transfers to you.

Knowing what to expect during closing week eliminates uncertainty and ensures a seamless transition into homeownership.

## Reviewing the Closing Disclosure (CD)

At least three business days prior to your scheduled closing date, your mortgage lender is legally required to deliver your Closing Disclosure (CD). The CD is a five-page financial document detailing every exact line item of your loan transaction:
- Final Purchase Price and Loan Amount.
- Mortgage Interest Rate and Loan Term.
- Total Monthly Payment (PITI: Principal, Interest, Taxes, Insurance).
- Itemized Closing Costs and Lender Origination Charges.
- Exact Cash to Close figure required from the buyer.

Carefully compare your Closing Disclosure against your initial Loan Estimate (LE) to verify fees, interest rates, and loan terms match prior agreements.

## Wiring Funds and Wire Fraud Protection

To complete closing, you must deliver your required Cash to Close funds to the title company escrow account. Title companies accept payment via bank wire transfer or cashier's check:
- Wire Transfer Protocol: Initiate wire transfers at your local bank branch at least 24 to 48 hours before closing to prevent banking processing delays.
- Critical Security Warning: Wire fraud is an active risk in real estate transactions. Always call your title officer directly using a verified phone number to verbally confirm wire routing instructions before sending funds. Never trust emailed wiring instructions without verbal verification.

## Conduct the Final Walkthrough Inspection

On the morning of closing or the afternoon prior, perform a final walkthrough of the home alongside your real estate agent. The walkthrough verifies three crucial items:
1. Agreed Repairs Complete: Ensure repair items negotiated during the option period were completed properly with invoice receipts provided.
2. Home Condition Intact: Confirm the property remains in clean, undamaged condition since initial inspections.
3. Included Items Present: Verify appliances, light fixtures, window treatments, and outdoor equipment specified in the contract remain on site.

## Signing Closing Documents at the Title Company

Closing takes place at the office of a licensed Texas title company. Bring a valid government-issued photo ID (driver license or passport) and your cashier's check if not wiring funds.

During your appointment (typically lasting 45 to 60 minutes), you will review and sign several key legal documents:
- The Promissory Note: Your legal promise to repay the mortgage loan according to agreed terms.
- The Deed of Trust: The legal instrument securing the property as collateral for the loan in Texas.
- Closing Settlement Statements: Detailed itemized statements confirming seller credits, tax prorations, and fee allocations.

## Key Funding and Key Release

In Texas, signing paperwork is only the first part of closing. The transaction must officially fund before keys are handed over.

Once all buyer and seller paperwork is signed and lender funds arrive at the title company, the title officer issues funding authorization. Upon funding authorization, you receive your keys and garage openers, officially becoming a Burleson homeowner.

## Post-Closing Document Safeguards

After closing, secure your original recorded deed and owner title policy in a safe location. Beware of deceptive mailers offering to sell official copies of your deed for inflated prices; your title company delivers original recorded documents directly to you at no extra charge.

Send me a message, and lets connect.

Mike Ritrovato | Compass | Retired Marine
760-468-7930 | Mike.Ritrovato@Compass.com
TREC License #0797145
Serving Burleson and the DFW Metroplex