What Is Needed To Close On A House?

Close on a house
Closing on a house requires many crucial steps that require preparedness and organization.

Buying a house is an exciting time! However, before you can move in and start making memories, there’s one more hurdle to jump: closing. What is a closing and what is needed to close on a house? Closing is the legal and financial process of finalizing the purchase of your new home. It can seem daunting, but with a little preparation, you’ll be closing like a pro in no time. What is needed to close on a house? We discuss in more detail below.

Necessary steps to close on a house

The specific requirements will vary depending on your lender and the location of your property, but here are some general things you’ll need to do to close on a house:

  • Get pre-approved for a mortgage. This should always be your first step in the house hunting process. In doing this, it will give you an idea of how much you can afford to borrow and will eventually make the closing process go much smoother.
  • Find a home and make an offer. Once your offer is accepted, you’ll need to put down a deposit, usually earnest money, which will be held in escrow until closing.
  • Schedule a home inspection. This will help you identify any potential problems with the home so you can negotiate repairs with the seller. This inspection period is also a buyer’s chance to potentially back out of the contract should any major issues arise.
  • Order an appraisal. The lender will need to make sure the home is worth what you’re paying for it.
  • Purchase homeowner’s insurance. This will protect you financially in case of damage to your home.
  • Gather your paperwork. This includes your proof of income, tax returns, and bank statements.
  • Review the closing disclosure. This document will detail all of the closing costs, which are the fees associated with buying a home.
  • Sign the closing documents. This is the final step in the closing process! Once you’ve signed all of the paperwork, you’ll be the official owner of your new home.

A few tips to close on a house

  • Stay organized. Keep all of your paperwork in a safe place and make sure you’re up-to-date on all of the deadlines.
  • Communicate with your lender and real estate agent. They are there to help you through the process, so don’t hesitate to ask questions.
  • Be prepared for surprises. There may be some unexpected costs or delays along the way, so it’s important to be flexible.
  • Don’t stress! Closing can be a bit overwhelming, but it’s also an exciting time. Just take it one step at a time and you’ll be in your new home before you know it.
  • Set a budget for closing costs. Closing costs can vary, but they typically range from 3% to 5% of the purchase price of the home.
  • Shop around for homeowners insurance. Get quotes from several different insurance companies to make sure you’re getting the best rate.
  • Read the closing disclosure carefully. Make sure you understand all of the fees before you sign anything.


Closing on a house is a multifaceted process that requires careful planning and preparation in order to achieve success. Of course, being represented by a trusted and knowledgeable real estate agent will be critical for your success. In addition, it is always advisable to be represented by a real estate attorney in the event that any unforeseen surprises arise.

Are you looking to buy or sell a property in the South Florida market? We can help. Contact Natasha at Live South Florida Realty, Inc. today! In addition, be sure to download the free Florida Home Search app for your smartphone or tablet & take the power of the South Florida MLS with you!

Categorized as Home Buying

By natasha moore

REALTOR® with Live South Florida Realty, Inc.