David Mercier
Closing Escrow: The Final Steps Before Getting Your Keys
Closing Escrow / Closing Day is here! You did it—you’re at the finish line of your home-buying journey!
But before you can pop the champagne, a few critical steps need to happen behind the scenes to officially transfer ownership to you. Closing escrow is the final step where all funds are accounted for, legal documents are recorded, and the home officially becomes yours. Let’s break down exactly what happens during this stage and what to expect before getting the keys from your awesome real estate agent.
🏡This post is part of my Home Buying 101 series!
Whether you’re just getting started or deep into the search, this step-by-step guide is here to help you feel confident every step of the way.
From getting pre-approved to moving day, I’ve broken down the entire home-buying journey.
Make sure you add your questions in a comment or find me on Instagram and send me a DM: @davidkmercier
Who is this series for?
🔹 First-time buyers who want a clear roadmap.
🔹Move-up buyers ready for or on the path to their dream home.
🔹Investors looking to get started with a smart strategy and are considering options.
🔹 Anyone who hates surprises and wants to be fully prepared for their Home Buying journey!
David Mercier introduces the ultimate home-buying guide, walking you through every step of the process, from pre-approval to move-in day!
1️⃣ The Final Financial Transactions
- Loan Funds Are Released
- If you’re financing your home, your lender will disburse the loan amount to the escrow account after verifying that all loan conditions have been met.
- Your Down Payment & Closing Costs Are Verified
- Your wired funds (down payment and closing costs) are confirmed by escrow.
- Seller Receives Their Proceeds
- The seller is paid after deductions for any remaining mortgage balance, liens, commissions, and escrow fees.
2️⃣ The Title Company’s Role
- Final Title Check
- Before closing, the title company ensures there are no unresolved liens or ownership disputes.
- Issuing Title Insurance
- The buyer and lender receive title insurance to protect against any future claims on the property.
- Recording the Deed
- The title company files the deed with the county recorder’s office, making your home purchase a matter of public record.
Pro Tip: Recording the deed officially transfers the home to you, meaning from this point on, it’s your property!
3️⃣ What Happens Next?
- Public Records Are Updated
- The county updates official records with your name as the new owner.
- Escrow Closes
- After the deed is recorded and all funds are disbursed, escrow officially closes.
- Final Statements Are Issued
- You and the seller will receive a settlement statement outlining all financial transactions related to the sale.
4️⃣ Receiving Your Keys 🎉
Once escrow has officially closed and everything is recorded, you get the moment you’ve been waiting for: KEYS IN HAND!
- Your real estate agent (that’s me!) will deliver your keys.
- If the seller hasn’t already moved out, possession terms in your contract dictate when you can officially take occupancy.
- Take a deep breath—you’re officially a homeowner!
You’re Take Away
Closing escrow is the final, exciting step before becoming a homeowner. Once funds clear, the deed is recorded, and escrow closes, you’ll finally get the keys to your dream home. Buying in Orange County or Long Beach?
I’m David Mercier—let’s make sure your home-buying journey ends with you holding the keys to your new home. Contact me today!
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