What this step involves
Closing is the finish line. You'll sign a stack of documents, hand over keys, and receive your proceeds. Most closings go smoothly with good preparation. The surprises happen when sellers don't understand what they're signing or what their net proceeds actually are.
How to do it yourself
DIY Path
- Review the Closing Disclosure at least 3 days before closing — federal law requires the lender to provide it
- Verify your net proceeds: sale price − mortgage payoff − closing costs − agent commissions − transfer taxes
- Do a final walkthrough with the buyer 24–48 hours before closing to confirm condition matches contract
- Bring government-issued ID to the closing table
- Confirm wire or check arrangements for receiving your proceeds — bank wires can take 1–3 days
Common pitfalls
What goes wrong
- Not reviewing the Closing Disclosure: Errors happen. A $500 mistake in fees is real money.
- Surprise closing costs: Sellers pay title insurance, transfer taxes, prorated property taxes, and HOA fees. These add up.
- Moving out before closing: Don't sign before you're sure. Deals fall through on closing day — rare but it happens.