Questions to Ask at Closing
Questions for the days before and the table itself at a home closing in the US, covering the Closing Disclosure, verified wire instructions, what the title search found, prorated taxes and escrow, repairs the seller agreed to, possession of the keys, and what happens after the deed is recorded.
The questions
Open any question for the note
Can I have the final Closing Disclosure three business days ahead, so I can read it at home?
Why ask it
Lenders are required to deliver it at least three business days before closing, so this is a right rather than a favor. Reading it at your own table is the only realistic chance to catch an error, because at the signing table nobody reads twenty pages of figures properly.
Which numbers changed since the Loan Estimate, and why did each one change?
Why ask it
Some charges may move freely, some only within a tolerance, and some may not increase at all without a documented reason such as a change you requested. Ask for the reason line by line, and expect a credit where a fee that should have been fixed has grown.
How do I verify the wire instructions, and what number do I call to confirm?
Why ask it
Closing wire fraud works by sending altered instructions that look identical to the real ones. Take the details in person or by calling a number you found independently, confirm before and after sending, and treat any last-minute change of account details as fraud unless you have confirmed it by phone, because a misdirected wire is often gone for good.
Exactly how much do I bring, in what form, and by what time?
Why ask it
Requirements differ by state and by title company: some need a wire before a cut-off hour, others want a cashier's check made payable a particular way, and personal checks are usually refused above a small amount. Getting this wrong is one of the most common reasons a signing slips to the next day.
Which of these fees are the lender's, which are the title company's, and which are government charges?
Why ask it
Sorting the fees by who set them shows you which can move. Recording fees and transfer taxes are fixed by statute, while duplicated courier, document, and processing charges from the lender or title company are the ones that sometimes come off when questioned.
Am I getting an owner's title insurance policy as well as the lender's, and what does mine cover?
Why ask it
The lender's policy protects the lender's loan, not your equity. An owner's policy is what responds if someone later asserts an interest in the property, and in many states both the premium and who pays it are negotiable.
What did the title search turn up: liens, easements, encroachments, unpaid taxes, open permits?
Why ask it
Ask for the title commitment itself rather than a verbal summary. An easement across the driveway, an old contractor's lien, unpaid utility charges, or a permit left open on an addition are all far easier to resolve before the money moves than after.
Is there a survey, and does it match the fences and driveway as they actually are?
Why ask it
A survey shows where the boundary legally runs, which is not always where the fence, shed, or paving sits. If a structure crosses a line in either direction, this is the last straightforward moment to deal with it.
How were property taxes and HOA dues prorated, and who pays the next bill that arrives?
Why ask it
Proration splits the year's charges between seller and buyer as of the closing date, and mistakes here are frequent. Confirm who owes the next bill, because the tax office sends it to the property, not to whoever is responsible for paying it.
What is in my escrow account, what will it pay, and what happens when the taxes are reassessed?
Why ask it
Escrow shortages catch new owners in the second year, when the assessment catches up with the price paid. Ask which tax figure the escrow was built on and what the monthly payment becomes if the property is reassessed at your purchase price.
Can you break my monthly payment into principal, interest, taxes, insurance, and mortgage insurance?
Why ask it
People remember one number and forget that only part of it is the loan. The tax and insurance portions are the parts that rise most years, so knowing the split tells you which increases to expect and which are fixed for the term.
If I am paying mortgage insurance, when can it come off and what do I have to do?
Why ask it
On many conventional loans it can be removed once you reach a set level of equity, but usually only when the borrower asks. Get the threshold, the request process, and whether an appraisal is needed, in writing today rather than trying to reconstruct it in three years.
When is my first payment due, who do I pay, and might the loan be transferred?
Why ask it
Loans are often sold within weeks of closing, and missed first payments usually happen because the borrower paid the original lender after a transfer. Note the date and the payee, and confirm you will receive written notice if the servicer changes.
Are the repairs the seller agreed to finished, and where do the receipts or the credit appear?
Why ask it
Check invoices and receipts rather than assurances, and photograph the work at the final walk-through. If a credit was given instead of the work being done, confirm it appears on the settlement statement and accept that the repair is now yours.
Who has the keys, and what time today do I actually get possession?
Why ask it
Possession does not always happen at signing: it can be on funding, on recording, or at a time set in the contract, and in some states that is days later. Ask about garage and alarm codes, mailbox keys, and any keys held by a cleaner, gardener, or tenant.
What happens if the funding does not arrive today?
Why ask it
Wires miss cut-offs and lenders occasionally fund late. Ask what happens to your rate lock, whether you can still move in, where your belongings go if you cannot, and who bears the cost when the delay belongs to the lender rather than to you.
If something in these documents turns out to be wrong after I sign, how is it corrected?
Why ask it
Most closing packages include a correction or compliance agreement that commits you to sign amended paperwork if a clerical error is found. Ask what it covers, because it is drawn broadly, and confirm that a change to a material term would need your agreement rather than just your signature.
When will the deed be recorded, and how do I get the recorded copy and the title policy?
Why ask it
Recording is what makes your ownership a matter of public record, and the lag runs from the same day to several weeks depending on the county. Ask when to expect the recorded deed and the policy, and chase them if nothing has arrived within a couple of months.
Is my homeowner's insurance in force from today, and does the lender have the binder and the paid receipt?
Why ask it
Coverage has to begin at transfer, not on the day you move your furniture in. A missing binder or unpaid first premium is a routine cause of a last-minute hold, and it is worth confirming rather than assuming your agent has sent it.
Who do I call in six months about the loan, and who about the title?
Why ask it
A question about escrow, a tax bill, or a boundary will arrive long after everyone at the table has moved on to other files. Take names, direct numbers, and the file or loan number, and keep them with the documents rather than buried in email.
Getting Through a Closing Without Surprises
Practical guidance for the conversation itself
The three days before
- Read the Closing Disclosure against your Loan Estimate, and list every difference before you arrive.
- Confirm the wire instructions by phone on a number you looked up yourself, and never act on instructions that arrive by email amendment.
- Make sure your funds have actually cleared into the account you are wiring from; a hold on a deposit stops a closing dead.
- Do the final walk-through as late as possible, with the utilities on, and test taps, heating, and every appliance that is staying.
- Do not open new credit, change jobs, or make a large purchase in this period; lenders re-pull credit and re-verify employment close to funding.
- Bring government photo identification, and check whether your state requires anything else, since some closings need a specific form of ID or a notary present.
At the table
You are entitled to read what you sign, and a closing that has been rushed is where errors survive. Check that every name is spelled as it appears on your identification, that the property address and legal description match, and that the loan amount, rate, term, and any prepayment or balloon terms are exactly what you were quoted. If a document says something different from what you were told, stop and get it corrected before signing rather than after; once funds have disbursed, your leverage is largely gone. Ask for a complete copy of the signed package before you leave, on paper or as a file you can download the same day.
Things that surprise new owners
- The escrow payment rising in year two, once the county reassesses at the price you paid.
- An HOA transfer or capital contribution fee that nobody mentioned until the settlement statement.
- A property tax bill mailed to the seller's forwarding address, and a late notice arriving in your name.
- Utilities never switched over, because the seller closed the account and nobody opened a new one.
- The loan being sold to a different servicer within the first two months.
- Discovering that the agreed repair was credited rather than done, and is now yours to organize.
Keep these somewhere you will find them
- The signed Closing Disclosure and the full settlement statement.
- The recorded deed and your owner's title insurance policy, once they arrive.
- The survey, any HOA governing documents, and the disclosures the seller provided.
- Receipts for any improvement you make from now on, since they bear on your cost basis when you eventually sell.
- The loan number, servicer contact, escrow contact, and title company file number on one page.