The Closing Process Explained – Step by Step

by Heidi Hines

Selling your home is a big accomplishment—but before you can officially hand over the keys, there’s one last hurdle: the closing process. If you’re a homeowner in Charlotte or the surrounding areas, you might be wondering: What actually happens at closing? How long does it take? What should I bring?

At Hines & Associates Realty, we’ve guided countless homeowners from “For Sale” to “Sold,” and we know that closing can feel confusing and overwhelming. That’s why we’ve created this step-by-step guide to walk you through everything you need to know about closing on your home.

Whether you’re selling for the first time or you’ve been through this before, this breakdown will give you confidence and clarity about what to expect.

What is the Closing Process in Real Estate?

The closing process (sometimes called settlement) is the final step in a real estate transaction where ownership of the property is legally transferred from seller to buyer.

This process involves:

Reviewing and signing legal documents
Paying closing costs and fees
Ensuring loan approval (for the buyer)
Recording the deed with the county

For sellers, closing means you’ll receive the proceeds from your home sale and officially transfer ownership to the buyer.

Step 1: Accepting the Offer

The closing process starts the moment you accept a buyer’s offer. 🎉 At this stage:

The purchase agreement is signed – This contract outlines the sales price, closing date, contingencies, and responsibilities of each party.
Earnest money is deposited – The buyer provides a deposit (usually 1–3% of the purchase price) as a sign of good faith.

👉 Pro Tip: Work closely with your real estate agent to make sure all terms are clear and protect your best interests.

Step 2: Opening Escrow

Once the offer is accepted, an escrow account is opened. Escrow is a neutral third party that holds funds, documents, and instructions until all conditions of the sale are met.

The buyer’s earnest money is held in escrow.
Escrow ensures that neither party is at risk if the other fails to meet obligations.

Step 3: Title Search and Insurance

Before a home can change hands, the title company will perform a title search to confirm that the property is free of liens, disputes, or legal issues.

Title Search: Confirms that the seller is the legal owner and can transfer ownership.
Title Insurance: Protects both buyer and lender against future claims on the property.

As a seller, this step ensures there are no surprises that could delay closing.

Step 4: Home Inspection & Appraisal

The buyer will usually schedule a home inspection and appraisal:

Inspection: A professional examines the home’s condition. If issues are found, the buyer may request repairs or credits.
Appraisal: Conducted by the lender to confirm the home’s value matches the agreed-upon price.

👉 Pro Tip: Stay flexible and open to negotiations during this stage to keep the sale on track.

Step 5: Negotiations & Contingencies

If the inspection or appraisal reveals problems, both parties may enter negotiations. Common outcomes include:

Seller making repairs before closing
Seller offering credits toward closing costs
Adjusting the sale price

Most purchase agreements include contingencies, such as financing approval or inspection results, which must be satisfied before moving forward.

Step 6: Preparing for Closing Day

Once contingencies are cleared, you’re almost there! Here’s what happens in the lead-up to closing:

Final Walkthrough: The buyer walks through the property (usually 24–48 hours before closing) to ensure everything is in agreed-upon condition.
Gather Documents: Sellers should prepare documents like the deed, property disclosures, and identification.
Review Settlement Statement: This statement outlines all the financial details of the transaction, including sales price, loan payoffs, agent commissions, and closing costs.

👉 At Hines & Associates Realty, we help sellers review these documents so there are no last-minute surprises.

Step 7: Closing Day

Closing day is the big moment! Here’s what to expect:

Signing Documents
- Deed transferring ownership to the buyer
- Settlement statement outlining transaction costs
- Any loan payoff documents
Paying Closing Costs
- Sellers may pay costs such as real estate commissions, title transfer fees, and prorated property taxes.
- Buyers typically cover lender fees and loan-related expenses.
Funds Are Transferred
- The buyer’s lender wires funds to escrow.
- Escrow then distributes the proceeds to the seller (minus fees and mortgage payoff).
Recording the Deed
- The deed is recorded with the county, making the buyer the legal owner.

👉 Once this is complete—you’re officially DONE! Congratulations, your home is sold. 🎉

Step 8: Handing Over the Keys

After the deed is recorded and funds are transferred, you’ll hand over the keys, garage openers, and any other access information to the new owner.

At this point, your responsibility for the property ends, and the buyer takes full possession.

Common Questions About the Closing Process

1. How long does closing take?

On average, 30–45 days from offer acceptance to closing.

2. How much are seller closing costs?

Typically 5–8% of the home’s sale price, including agent commission and fees.

3. Can closing be delayed?

Yes, common causes include financing issues, title problems, or inspection-related negotiations.

4. Do I need to attend closing in person?

In North Carolina, closings are often handled by attorneys, but sellers may not need to be physically present if documents are signed ahead of time.

Why Having the Right Realtor Matters at Closing

The closing process involves many moving parts—attorneys, lenders, title companies, inspectors, and more. Having a trusted real estate professional ensures that nothing slips through the cracks.

At Hines & Associates Realty, we:
✅ Coordinate with attorneys and title companies
✅ Review documents to ensure accuracy
✅ Negotiate on your behalf when issues arise
✅ Guide you step by step so you never feel lost

With us, closing isn’t stressful—it’s smooth, simple, and successful.

Final Thoughts

Closing on a home is the last step in your selling journey—and one of the most rewarding moments. By understanding the process, you can feel prepared, confident, and ready for the transition.

At Hines & Associates Realty, we’re here to guide you from listing to closing with professionalism, care, and expertise. Whether you’re selling your first home or your fifth, our team ensures you have a seamless experience every step of the way.

📲 Ready to sell your Charlotte home? Call us today at 704-619-1008 and let’s get you from “For Sale” to “SOLD!”