A Step-by-Step Guide
Woo Hoo, you’ve made it! You’ve found your dream home, survived the negotiations, and navigated the mortgage process. Now comes the final hurdle: closing day. For many buyers and sellers, this is the most mysterious part of the transaction.
Will you sign your life away? Is it a party or a paperwork marathon? Who actually gets the keys?
Let’s break it down! Here’s exactly what to expect at your Florida real estate closing, from who’s in the room to when you can pop the champagne (or Camus)!
Table of Contents
The Pre-Game (3-5 Days Out)
The real work happens before you ever sit down at the table. Your closing agent and Realtor® are ensuring everything is ready:
- Final Walk-Through: You’ll visit the property (usually 24 hours before) to verify it’s in the agreed-upon condition and that no new damage has occurred.
- Review Closing Disclosure (CD): You’ll receive this form from your lender. Compare it line-by-line to your Loan Estimate to catch any surprises.
- Secure Funds: You’ll get a final number for your cash-to-close. Arrange for a cashier’s check or wire transfer; never bring a personal check.
- Get Your Docs: Ensure you have your government-issued photo ID and proof of insurance.
Important Note: Florida wire fraud is on the rise! Always confirm wire instructions by calling a known, verified number. Scammers are notorious for hacking emails near closing.
Closing Day: A Step-by-Step Playbook
While every transaction is unique, here’s the typical flow of events on the big day.
Step 1: The Setting
Where? Typically, at the office of the title company, escrow agent, or attorney. In Florida, it’s increasingly common for buyers and sellers to sign separately at different times.
Who’s there?
- Buyer(s) and their agents
- Seller(s) and their agents (sometimes)
- Closing Agent or Attorney (representative from the title/settlement company)
- Lender (sometimes)
Preferred Settlement Services is located in Sarasota, Fl, and serves the entire state of Florida. Ask about our mobile notary services.
Step 2: The Paperwork Mountain
You will sign what feels like a small forest of paperwork. The most important documents include:
| Document | What It Is | Why It Matters |
| Closing Disclosure (CD) | Final breakdown of all costs and credits. | You’ve already reviewed it – this is for the file. |
| Promissory Note | Your formal “IOU” to the lender. | It states your loan amount, interest rate, and repayment terms. |
| Mortgage/Deed or Trust | The security instrument that pledges the property as collateral for the loan. | This gives the lender the right to foreclose if you don’t pay. |
| Deed | The document that transfers ownership from the seller to the buyer. | The seller signs this over to you. It will be recorded with the county. |
| Initials & Signatures | On every page of every document. | This prevents claims that pages were added later. |
Step 3: Moving Money
- You Pay: You’ll provide the cashier’s check or confirm the wire transfer has been sent for your closing costs and down payment.
- Lender Funds: The Title Company will receive the loan funds from your mortgage lender via wire.
- Seller Proceeds: After all fees are paid, the title company will wire the net proceeds to the seller.
Step 4: The Key Moment
Once all documents are signed and the title company has confirmed receipt of all funds (yours and the lender’s), the closing is considered “disbursed.”
This is the moment you become a homeowner. You will receive the keys to your new home! (Sometimes the seller’s agent will hold the keys until the deed is officially recorded)
After Closing: The Final Steps
Your work is done, but the closing agent’s isn’t.
- Recording the deed: The title company will electronically submit the signed deed and mortgage to the county recorder’s office. This makes the sale and your loan an official public record.
- Title Insurance Policy: The underwriter will now issue your owner’s title insurance policy, which will be mailed to you in the coming weeks. Keep this forever.
Florida-Specific Closing Quirks
- Attorney State? Florida is not a mandatory attorney-closing state, but many sophisticated transactions (especially commercial) use them. At Preferred Settlement Services, we have 5-star-rated closing agents and attorneys representing 50 years of experience in real estate!
- Document Stamp Tax: Both the deed and the mortgage are subject to “doc stamp” taxes, a primary component of your closing costs.
- Settlement/Closing: The terms are used interchangeably in Florida.
Pro Tips
- Ask Questions: If you don’t understand a document, ask the closing agent to explain it!
- Be Patient: The signing takes 45-60 minutes. The funding and disbursement can take a few more hours.
- Celebrate! This is a huge achievement. We will kick things off with a toast in our conference room!
A smooth closing isn’t an accident–it’s the result of meticulous preparation by your entire team.
Need a Florida closing team that makes it easy?
We guide you through every step and ensure no detail is missed. Schedule Your Stress-Free Closing