Have you ever wondered what the basic steps to a closing are? Although every transaction is different, our experienced team of closers’ typically follows this process of opening, and closing, your file.

The Basic Steps at Closing

Closing the real estate transaction is basically the investigation made or actions taken by either a title agent or title attorney before the actual issuance of the title policy. There are five basic steps that usually followed in somewhat the same order in every real estate transaction.

Step 1 Starting the process
After a sales contract is signed, the file begins to be processed. Tax information, loan payoffs, surveys, homeowner/maintenance fees, inspections/reports, and hazard and other insurances, as well as a title order is issued.

Step 2 Title search and examination
This is the examination of the documents found during the title search that affect the title to the property.

Step 3 Document preparation and/or request to produce
The Bankers closing agent reviews the lender’s instructions and requirements, legal and loan documents, assembles charges, prepares closing statements, and schedules the closing.

Step 4 Settlement/closing the transaction
The seller signs the deed and closing affidavit. The buyer signs the new note and mortgage. The old loan is paid off. The seller, real estate agents, attorneys, and other parties present at the closing are paid.

Step 5 Post-closing
After the signing has been completed, the escrow/settlement agent will forward payment to any prior lender, and pay all parties who performed services in connection with your closing (if they have not been paid). The transaction documents are recorded in the county in which the property is located. Title insurance policies are prepared and sent to the new lender and to you. This all happens without any further actions by the buyer or seller.


If you ever have any questions or concerns about your Closing Process, feel free to reach out to your Executive Closer.

Order Title today to experience the Bankers Difference yourself.