What to Expect on Closing Day: Your Guide to Key Documents
Closing day is the final step in the home-buying process. It’s the day you officially take legal ownership of your new home. While it’s an exciting time, it can also be overwhelming due to the sheer volume of paperwork you’ll be asked to sign. Understanding the key documents beforehand can make the process much smoother and less stressful.
Here’s what to expect on closing day and a guide to the most important documents you will sign.
Who Will Be There?
Your closing will typically take place at the office of a title company or an attorney. The people present will usually include:
- You (the buyer)
- The seller
- Your real estate agent and the seller’s agent
- A closing agent (who works for the title company or attorney)
- A representative from your mortgage lender (sometimes)
The Key Documents You Will Sign
You will sign dozens of pages, but these are the four most critical documents that you should pay close attention to.
1. The Closing Disclosure (CD)
You should have already received a preliminary version of this document three days before closing. The final CD is a five-page form that provides a detailed, itemized list of all the costs associated with your mortgage and home purchase. Review it carefully to ensure the numbers (interest rate, loan amount, closing costs) match what you were promised.
2. The Promissory Note
This document is exactly what it sounds like: it is your promise to repay the loan. It details the total amount you are borrowing, your interest rate, your monthly payment amount, and the dates when payments are due. It is the legal evidence of your debt to the lender.
3. The Mortgage or Deed of Trust
This is the document that secures the loan by placing a lien on your property. It gives the lender a legal claim to your home and the right to foreclose if you fail to make your payments as agreed upon in the promissory note. The specific name of the document (mortgage or deed of trust) depends on your state.
4. The Deed
This is the legal document that officially transfers ownership of the property from the seller (the grantor) to you (the grantee). You will receive a copy of the signed deed at closing, and the original will be filed with the county to become part of the public record.
Why DomiDocs is Your First and Most Important Post-Closing Task
You will leave the closing with a large folder full of intimidating and extremely important paperwork. The single most important thing you can do for your long-term organization and security is to take that folder home and immediately digitize it with DomiDocs.
1. Create an Instant, Permanent Record
Scan and upload every single document from your closing into your new DomiDocs secure digital vault. This creates a permanent, organized, and securely backed-up record of your home purchase from day one. You’ll never have to worry about losing these critical papers.
2. The Foundation of Your Home Management
Uploading your closing documents is the first step in building your home’s digital command center. Your deed, mortgage note, and insurance policy will now live in one secure place, ready to be linked to powerful tools like our title monitoring service and equity tracker. Starting with DomiDocs on day one sets you up for a lifetime of organized, stress-free homeownership.
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