You are almost there—but almost closed is not closed.

During the final days, the lender and title company complete the remaining financial, legal and administrative requirements. Stay available and continue protecting your finances until the closing agent confirms that the transaction is closed.

“Clear to close” generally means the lender’s underwriter has approved the loan and remaining conditions have been satisfied.

The lender may still verify employment, credit, bank balances, closing funds, insurance, property conditions and requested documents. Do not open credit, finance purchases, move closing funds or make unexplained financial changes.

For most financed purchases, the lender must provide the Closing Disclosure at least three business days before closing.

Compare it with the Loan Estimate and contract. Review:

• Purchase price
• Loan amount, type, rate and term
• Estimated payment
• Taxes and insurance
• Lender, title and closing charges
• Seller credits
• EMD credit
• Association charges and prorations
• Cash required to close

Ask questions immediately if something is incorrect or unexpectedly different. Request major closing documents in advance when possible rather than reviewing everything for the first time at the signing appointment.

The first Closing Disclosure may not contain the exact final amount because prorations or approved adjustments may still change.

• Confirm the final cash-to-close figure directly with the title company.
• Obtain and verify wiring instructions directly with the title company.
• Reconfirm any last-minute adjustment before sending funds.
• Check your bank's wire cutoff time and any transfer limit.
• Send funds early enough to arrive before the closing deadline.
• Never rely on wiring instructions forwarded by an agent or received only by email.

Follow Chapter 12's verification procedure every time.

Contact utility providers in advance and schedule service to begin in your name on the closing or possession date.

Depending on the property, arrange:

• Electricity
• Water and sewer
• Gas
• Trash collection
• Internet
• Security monitoring
• Propane service

Some providers require deposits, identification or several days’ notice. The seller should maintain utilities through the time required by the contract so the final walk-through can be completed and the systems tested.

Schedule transfers early using the correct effective date. Avoid both a service interruption and accepting financial responsibility before closing or possession.

The walk-through is normally performed shortly before closing. It is not another full inspection or a chance to renegotiate because you changed your mind.

Confirm that:

• The property remains in the expected condition
• The seller’s belongings and trash are removed
• Agreed repairs are completed
• Included appliances and fixtures remain
• No new damage occurred
• Major systems can still be operated
• The home is ready for the agreed possession

Bring the repair agreement, receipts and any reinspection documentation. Verify rather than relying solely on an assurance that the work was completed.

Immediately contact your agent or broker and the title company. Depending on the contract and circumstances, the parties might complete the work, create a written escrow arrangement, provide an allowable credit, replace a missing item or delay closing.

Do not unilaterally deduct money or refuse to perform without understanding the potential consequences. Obtain legal advice when necessary.

Suppose the final walk-through reveals that an included refrigerator is missing, agreed work is incomplete or furniture removal exposed previously hidden damage to a hardwood floor. Depending on the problem, the parties may be able to use an escrow holdback rather than delay the entire closing.

With a properly documented holdback, the title company retains an agreed portion of the seller’s proceeds after closing. Those funds are later disbursed according to the written agreement, allowing the buyer to take possession on time while preserving money to address the unresolved item.

An escrow holdback is not automatic. It generally requires:

• The buyer’s and seller’s written agreement
• Approval from the buyer’s lender when the purchase is financed
• Agreement by the title or closing company to hold and administer the funds
• A clearly stated amount
• A description of the required repair, replacement or correction
• A completion deadline
• Instructions covering inspections, invoices and release of funds
• Direction for any unused money and procedures if a dispute arises

The amount held should reasonably account for the expected work and the risk that it costs more than anticipated. Depending on the agreement, funds may be released to a contractor, reimbursed after paid invoices or disbursed another approved way—they are not necessarily handed directly to the buyer at closing.

An escrow holdback can solve a last-minute problem and keep the closing on schedule, but the parties, lender and title company must approve and document it before closing.

Be prepared to review and sign the documents required for your purchase.

• Bring the identification and documents requested by the title company.
• Confirm that names, property information and financial figures are correct.
• Financed buyers should review the promissory note, mortgage, Closing Disclosure and lender forms.
• Cash buyers should review the deed, settlement statement and title documents.
• Ask questions about anything you do not understand before signing.
• Never sign a blank document or one containing information you believe is incorrect.

The deed identifies the legal owner or owners. The form of ownership can affect inheritance, creditor rights, estate planning and what happens when an owner dies.

Your agent, broker or title processor should not choose the form for you or provide legal advice. Buyers purchasing together, through a trust or business, or with estate-planning concerns should consult a Florida attorney before the deed is prepared.

Under the commonly used Florida Realtors/Florida Bar contracts, closing occurs when:

1. All required funds have been received and finally collected in the closing agent’s account; and
2. All closing documents required from the parties have been delivered.

Attending the appointment and signing the documents does not by itself mean the transaction has closed. The deed does not necessarily need to be recorded first, and the seller’s proceeds do not need to appear in the seller’s personal account first.

Only the closing agent can confirm that closing has occurred. Unless the contract provides for post-closing occupancy, the seller must then deliver possession, keys, access devices and codes as required by the contract.

If possible, schedule movers, furniture deliveries and contractors for the day after closing—not closing day.

Closing can be delayed by lender funding, missing documents, wire transfers, title problems, walk-through concerns or a delayed seller move-out. Leaving a day between closing and moving can prevent rescheduling fees, storage costs and unnecessary stress.

If same-day moving is unavoidable, confirm the possession terms and have a backup plan.