Closing Checklist

The last leg. The title company settles who owes what, the seller gets paid, the buyer gets the deed and the keys. Here is what to have ready.

Seller costs, typically

• Mortgage payoff or prepayment
• Unpaid taxes, fines or claims against the property
• Unpaid survey or assessment fees
• Title insurance for the buyer
• Home warranty, if offered
• Real estate commission
• Title and closing fees

Buyer costs, typically

• Down payment
• Lender fees and prepaid interest
• Appraisal and inspection fees, usually paid earlier
• Lender's title insurance
• Prorated property taxes and HOA dues
• First year of homeowner's insurance
• Recording fees

The settlement statement lists every one of these to the dollar. Ask about any line you do not recognize.