# Essential Real Estate Closing Checklist for Buyers & Sellers

> A home closing checklist for buyers and sellers: Closing Disclosure review, closing documents, wire fraud steps, and the last week.

## Closing checklist for buyers

Use this checklist before a home closing in the US. The closing is the meeting where you sign the loan documents and the property gets a new owner. Your lender, closing agent, or attorney can tell you about other items for your state or your loan.

Two forms are the base of the review. The Closing Disclosure is the five-page form with the final terms and costs of your mortgage. The Loan Estimate is the earlier form from your lender with the estimated terms and costs.

### When the Closing Disclosure arrives (at least 3 business days before closing)

- [ ] Your name has the correct spelling, and the property address is correct
- [ ] The loan term, purpose, product, and loan type are the same as on your latest Loan Estimate
- [ ] The loan amount and the interest rate are the same as you agreed (if one changed, ask the lender why)
- [ ] The loan has no prepayment penalty (a fee for early payoff) or balloon payment (a large final payment) that you did not agree to
- [ ] The estimated total monthly payment includes the taxes and insurance in escrow (an account that the lender uses to pay them)
- [ ] Each closing cost is the same as on the Loan Estimate, or the change is inside the limits in the table below
- [ ] The earnest money (the deposit that you paid with your offer) shows as a credit
- [ ] The seller credits from your contract show
- [ ] The property tax prorations (the split of the tax bill between buyer and seller) use the correct dates
- [ ] The cash to close is the amount that you expect

### Before closing day

- [ ] You know the closing date, time, and place
- [ ] The closing agent told you the amount due and the accepted form of payment (usually a wire transfer or a cashier's check)
- [ ] You called the closing agent at a phone number that you already had, to make sure that the wiring instructions are correct
- [ ] Your homeowner's insurance is active, and the lender has the proof
- [ ] At the final walk-through, the agreed repairs are complete, and the appliances, plumbing, heating, and cooling work
- [ ] Nothing that the contract includes is missing from the home

### At the closing table

- [ ] A government-issued photo ID (ask the closing agent which IDs they accept)
- [ ] Promissory note (your promise to repay the loan): the rate, the payment, and the prepayment terms are the same as on the Closing Disclosure
- [ ] Mortgage or deed of trust (the claim of the lender on the home): the names, address, and legal description are correct
- [ ] Deed (the document that transfers ownership): your name and the form of ownership are correct (for example, "joint tenants with right of survivorship")
- [ ] An owner's title insurance policy, if you bought one
- [ ] Copies of all documents that you sign

## Closing checklist for sellers

- [ ] The deed is ready to sign in front of a notary (some states also require witnesses)
- [ ] If a trust, an LLC, or an estate owns the property, the document that shows who can sign
- [ ] A mortgage payoff statement (the exact amount to pay off your loan) for the closing date, with daily interest
- [ ] An affidavit of title (your sworn statement about the title) that lists all known liens, disputes, and claims
- [ ] The seller disclosure statement that your state requires
- [ ] HOA documents and the payoff of dues, if the home is in a homeowners association (HOA)
- [ ] Proof that you made the agreed repairs
- [ ] Bank details for your proceeds, given to the closing agent by phone or in person
- [ ] Keys, garage door openers, codes, and manuals for the buyer

For a trust, the document that shows who can sign is the trust document. For an LLC, it is the operating agreement. For an estate, it is the letters testamentary or of administration from the probate court. These letters are the court documents that let an executor act.

## Compare the Closing Disclosure with the Loan Estimate

For most mortgages with an application on or after October 3, 2015, the Closing Disclosure replaced the HUD-1 settlement statement and the final Truth-in-Lending form. Your lender must make sure that you [receive it at least three business days before closing](https://www.law.cornell.edu/cfr/text/12/1026.19). The [Closing Disclosure guide](https://www.consumerfinance.gov/owning-a-home/closing-disclosure/) of the Consumer Financial Protection Bureau (CFPB) explains the form page by page.

![Compare the Loan Estimate with the Closing Disclosure, then verify the terms](/assets/blog/real-estate-closing-documents/loan-estimate-compare.webp)

Some costs can increase between the two forms, and some cannot. The CFPB gives these limits on [how much final costs can change](https://www.consumerfinance.gov/ask-cfpb/can-my-final-mortgage-costs-increase-from-what-was-on-my-loan-estimate-en-172/):

| Can change | Examples |
|---|---|
| Not at all | Fees to the lender, the mortgage broker, or their affiliates for a required service. Also required services that you were not able to shop for, and transfer taxes. |
| Up to 10% in total | Recording fees, and required services from a provider on the written list of the lender |
| By any amount | Prepaid interest, property insurance premiums, and initial escrow deposits. Also services from a provider that you chose outside the list, and services that the lender does not require. |

These limits do not apply after a "change in circumstances," for example a different loan type, a different down payment, or a different appraisal. In that case, you usually get a revised Loan Estimate.

If an item on the Closing Disclosure is wrong, call your lender immediately. For most corrections, the lender gives you a corrected form at or before closing, and the closing date stays the same. Three changes start a [new waiting period of three business days](https://www.law.cornell.edu/cfr/text/12/1026.19). They are an inaccurate APR (the yearly cost of the loan, with fees), a change to the loan product, and a new prepayment penalty.

## Title insurance and the deed

Most lenders require a lender's title policy. This policy protects only the amount of the loan. An owner's title policy protects you if a person claims a right to the home. The owner's policy is [optional](https://www.consumerfinance.gov/ask-cfpb/what-is-owners-title-insurance-en-164/), but get a price for it. A purchase of both policies from one provider is usually cheaper than two separate purchases.

Read the names on the deed and the form of ownership slowly. After the county records the deed, a mistake needs a correction filing.

## Other documents for some homes

For a condo or a home in an HOA, expect these documents:

- The CC&Rs (the rules of the association)
- The current budget and the recent meeting minutes
- Planned special assessments (extra charges to the owners)

Your lender can also ask the HOA to complete a questionnaire. For a home with a well or a septic system, your lender or your contract can require test or inspection reports. For an estate sale, expect the letters testamentary or of administration from the executor. Also expect a court order if the sale needs the approval of the court.

## Protect your closing funds

Scammers send emails that look like emails from your agent or your settlement company. The emails contain "new" wiring instructions, often a few days before closing. The CFPB gives this [advice about closing scams](https://www.consumerfinance.gov/about-us/blog/mortgage-closing-scams-how-protect-yourself-and-your-closing-funds/):

1. Early in the process, select two trusted people, for example your agent and your settlement agent. Agree with them how you will get payment instructions.
2. Do not follow wiring instructions in an email. Call a phone number that you already had, or meet in person, and make sure that the instructions are correct.
3. Do not send financial details by email.
4. After you send the wire, make sure that the closing company received the money.
5. If you think that a scammer got your money, call your bank or wire service immediately and ask for a recall. Then report the fraud to the FBI Internet Crime Complaint Center at ic3.gov.

## The week before closing

Do these steps in the last seven days before closing:

![Pre-closing timeline. 7 days before: confirm the details and the funds. 3 days before: receive the Closing Disclosure and review the numbers. 1 day before: do the final walk-through and send the funds.](/assets/blog/real-estate-closing-documents/diagram_week-before-closing.webp)

- About 7 days before closing: Make sure that you know the date, time, and place. Ask the closing agent for the amount due and the method of payment.
- At least 3 business days before closing: The Closing Disclosure arrives. Read it on the same day.
- 1 day before closing, or on the morning of closing: Do the final walk-through. Call the closing agent to make sure that the wiring instructions are correct. Send the wire early in the day.
- On closing day: Bring your ID and your copies. Read each document before you sign it. Ask about each item that is different from what you expect.

## Use this checklist with Claude or ChatGPT

Claude or ChatGPT can help you compare the two forms line by line. Upload your Loan Estimate and your Closing Disclosure, or paste the numbers. Paste the buyer checklist and the cost table from this article. Then ask for a list of the differences.

```text
Attached are my Loan Estimate and my Closing Disclosure, and below are
a closing checklist and the CFPB cost-change rules. Compare the two
forms line by line. List every figure that changed, with both amounts
and the page and section where you found them. Mark any change that
looks outside the allowed limits. Then go through the checklist and
say which items you can confirm from the documents and which you cannot.

CHECKLIST AND RULES:
[paste the checklist and the table]
```

Use the answer as a list of questions for your lender, not as a final decision. Make sure that each difference is in the documents before you act on it. The assistant can read a number wrong on a scanned form, or it can miss a line.

Cover your Social Security number and your loan and account numbers before you upload the forms. Criminals can use these numbers for fraud. Also read the data settings of your workspace. Your lender, closing agent, or real estate attorney gives the final answer on what is correct.

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## Frequently Asked Questions

### Can I close before the three-day waiting period ends?

Only in a bona fide personal financial emergency. You must give the lender a dated, written statement that describes the emergency and changes or waives the waiting period. All borrowers must sign the statement. The rule does not permit printed forms for this statement.

### Which closing documents do I keep after closing?

Keep the Closing Disclosure, the promissory note, the mortgage or deed of trust, the deed, and your title insurance policy. After the county records the deed, ask the closing agent how you get the recorded copy. Keep these documents in a safe place. You can need them when you sell the home, refinance, or file taxes.

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