Closing Day? Things To Know Before Getting Your Keys

Published on June 1, 2022 under First-Time Home Buyers

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You've been waiting for the right time to get the keys to your home, working hard, saving up year after year for a down payment, and raising your credit score while ensuring a steady flow of income. Now, it's come down to the final days of the loan process. A process that feels like it's lasted forever. Now, the question is: when do you get the keys to your new home?

Buying a home can be a daunting process. What you need is to move in as soon as possible - but when will that happen? When are you able to secure the keys? Find out what it takes to get to that day, what the day is officially called, and what you should expect.

When Do I Get The Keys to My New Home?

Fortunately for a homebuyer, there is a time frame from when you propose your bid to when you'll get the keys to your first home. It can take approximately 40 to 50 days.

However, some essential steps should be taken before you become the official owner of the home.

Most homebuyers are under the presumption that once the paperwork is signed, the sale is sealed. This is false.

Here is what you must consider before calling it your house.


It would be best to get the remaining balance to fill in as the down payment and closing expenses.

The money you reimburse the seller after they acknowledge your proposal is not part of a total down payment but an earnest money deposit. It is paid to ascertain that you're seriously interested about closing on the exchange.

Apart from the down payment, you're also expected to cover the closing expenses.

The Purchase Agreement

These are the records that outline the conventional information on the agreement. These include information on the following:

  1. The customer
  2. The salesperson
  3. A description of the property
  4. It's locale
  5. The suggested closing date
  6. The buying price, and
  7. The condition of the home.

You must comprehend the entire purchase agreement with the help of your loan officer to be aware of any if there are added items.

Any Other Essential Documents

You must be ready to sign all the documentation, such as:

  1. The deed. Physical documentation that transfers the property title from the agent to the prospect. Legal proof of ownership of the property.
  2. Title review. It is advantageous to the prospect and ensures no issue can impede the closing.
  3. Mortgage. Also called the deed of trust, it's a pact between the prospect and the mortgage lender.

Prepare for The Closing Day

A homebuyer gets the keys to their first home on closing day. This is when all legal documentation is signed, settlement is made, and the deed is filed at the county recorder's office.

It can be a hectic day, and the homebuyer might feel nervous. It is filled with excitement and anxiety. Therefore, you must ensure that you have the following in order as you wait for the closing day:

  • You're not spending your savings but investing
  • Be confident you are making a wise financial decision
  • Know your mortgage expiration date
  • Ensure that everyone on the mortgage has their identification
  • Double check all the legal documentation

You can also reach out to your loan officer to determine whether additional items are needed to get your keys smoothly. Finally, you'll have the keys to your new home! The loan officers at First Savings are ready to explain the home buying process if you're interested in starting this journey.

Contact an Expert Loan Officer