The Complete Real Estate Closing Process: Timeline, Documents, Costs, and What to Expect at the Closing Table

Real estate closing involves 3 main phases: (1) Offer-to-Purchase & Sale (P&S) Agreement (14-21 days for contingencies), (2) P&S to Closing (30-45 days for financing, title work, inspections), (3) Closing Day (signing 20-30 documents, transferring funds, receiving keys). Total timeline: 45-75 days from accepted offer to possession. Critical closing costs in Massachusetts: Attorney fees ($1,000-$2,000), lender fees ($1,500-$3,000), title insurance ($1,000-$2,500), recording fees ($300-$500), transfer taxes (varies by town), property taxes (prorated), homeowner insurance (first year prepaid), and escrow deposits (2-6 months reserves). Total closing costs: 2-5% of purchase price ($12,000-$30,000 on $600K home). Many buyers under-budget by $5,000-$10,000. Final walk-through is last chance to verify property condition before closing; never skip it.

All homebuyers, especially first-time buyers unfamiliar with closing process, buyers concerned about closing costs, anyone wanting to understand what they're signing, buyers negotiating attorney fees or closing cost credits.

• •Massachusetts requires attorney representation (both buyer and seller must have attorneys)
• •Purchase & Sale Agreement is binding; deposit at risk after contingencies removed
• •Closing costs typically 2-5% of purchase price; varies by loan type, down payment, location
• •Owner's title insurance optional but recommended ($1,000-$1,500 one-time cost protects forever)
• •Final walk-through occurs 24-48 hours before closing; verify repairs completed and property condition unchanged
• •Bring certified check or wire funds day before closing; personal checks not accepted
• •Recording can take weeks; you own property when deed records, not when you sign documents