What happens at clossing

What happens at Closing?

In California, there are many individuals involved in the closing of your real estate transaction.

Your lender will require you to sign many loan documents, usually a promissory note, as evidence that you are personally responsible for repaying the loan. You will also sign a mortgage or deed of trust on the property as security to the lender for the loan. The mortgage or deed of trust gives the lender the right to sell the property if you fail to make the payments.

At closing, you will be required to pay all fees, closing costs and the remainder of the down payment in the form of a Cashiers Check. Your escrow officer will notify you of the exact amount before your closing appointment.

What Can Delay an Escrow from Closing on Time?

When things go wrong, closing can be delayed. So, exercise patient and keep in communication with your real estate professional.


Here are a few of the possible delays:

• Buyer submits incorrect information to lender
• Lender loses important documents
• Title company loses wire transfer of funds from lender
• Source of down payment changes
• Buyer refuses to sign loan documents
• Escrow Officer fails to notify parties about missing documents
• Principals go out of town without signing all necessary papers
• Last-minute liens are discovered against the property
• Move-out date changes because the seller or buyer needs more time
• Lender decides at the last minute it doesn't approve of the borrower or the property
• Lender raises interest rates
• Appraisal comes in too low - below the price that was offered