Residential Closing Checklist

The effective date drives every contingency clock — inspection period, financing deadline, appraisal contingency, closing date. Confirm it matches the last-signed-and-delivered date in Dotloop or SkySlope, not the offer date. A wrong effective date is the most common reason TCs miss a contingency deadline.

Most state commissions require EMD deposit to the broker's trust account within 3 business days of receipt — late deposit is a license violation. Never park EMD in the operating account, even briefly. Save the deposit receipt to the transaction file.

Verify the build year from tax records, not just MLS — MLS data is owner-entered and often wrong. Anything pre-1978 triggers federal lead-based paint disclosure requirements with EPA pamphlet delivery and a 10-day inspection opportunity.

Federal LBP disclosure requires the seller's signed disclosure form, the EPA Protect Your Family From Lead pamphlet, and a 10-day inspection opportunity (waivable in writing). Missing this exposes the brokerage to EPA fines and the buyer's rescission right.

Send the executed contract to the settlement agent and request the title commitment plus copies of all exception documents. Confirm both owner's and lender's title insurance are ordered. In attorney states (NJ, NY, GA, SC, etc.), confirm the closing attorney is engaged in parallel.

Walk Schedule B exceptions line by line: open mortgages, mechanic's liens, easements, unreleased deeds of trust, judgments, unpaid taxes. Anything that won't be cleared at closing needs a written objection inside the contract's title-objection window or it becomes the buyer's problem.

Book the inspection in the first half of the contractual inspection period — never the last day. Book ancillary inspections in parallel where indicated: radon (EPA action level 4 pCi/L), termite/WDO, sewer scope, septic, well water, pool, mold.

Walk the report section by section so the buyer separates safety/structural issues from cosmetic findings. Avoid leading the buyer toward a specific outcome — the decision to accept, object, or terminate is theirs.

Submit the buyer's decision in writing before the inspection contingency expires — submitting on day 11 of a 10-day period waives the right and the seller can refuse all repairs. Calendar the deadline with a 48-hour buffer reminder.

Under TRID, the lender must deliver the Loan Estimate within 3 business days of a complete application. Confirm with the LO that the application is in and the LE has been issued — this is also the moment to verify rate-lock terms and lock expiration relative to closing.

Listing agent: meet the appraiser at the property with comps and a list of recent improvements. Buyer's agent: confirm the appraisal management company has the order and an inspection date. Appraisal turnaround typically runs 7-14 days from order.

A low appraisal triggers the appraisal contingency clock. Options: buyer brings cash to cover the gap, seller reduces price, parties split the difference, or buyer terminates per contingency. Decision must be in writing before the contingency expires.

Document the resolution as a contract amendment signed by both parties — verbal agreements on price reductions or buyer cash-to-close don't bind the lender. If an appraisal rebuttal is in play, attach the comparable sales the appraiser missed.

TRID requires the buyer to receive the CD at least 3 business days before consummation. Material changes (APR, loan product, prepayment penalty) restart the 3-day clock and push closing. Reconcile the CD against the LE and the contract — fee shifts outside RESPA tolerances need to be cured by the lender.

Wire fraud is the highest-cost risk in residential closing. Have the buyer call the title company at a number from the company website — never a number from an email — and verify routing and account numbers verbally. Coach the buyer to ignore any last-minute emailed instructions claiming to update wire info.

Walk-through ideally happens within 24 hours of closing — close enough to catch last-minute issues, far enough to allow seller cure. Bring the inspection-repair list and contractor receipts; confirm fixtures and personal property match the contract.

Test major systems (HVAC, water heater, appliances), verify agreed repairs are completed, and confirm the property is in substantially the same condition as at contract. Document any new issues with photos before signing.

Verify every signature and initial across the deed, ALTA settlement statement, mortgage/deed of trust, and note. Confirm the legal description matches the title commitment exactly — typos in the legal description require a corrective deed and a re-record.

Most MLSs require status change to closed within 24-72 hours of recording, with sold price, concessions, and closing date entered accurately. Late or wrong data triggers MLS fines and corrupts comps for the next agent who runs a CMA.

Broker file review confirms every required disclosure is signed and dated: agency, fair housing, seller's property disclosure, lead-based paint (if applicable), wire fraud advisory, dual agency consent (if applicable). Missing items are the most common audit finding from state commissions.

RESPA Section 8 prohibits gifts that look like a kickback to a settlement-service provider — gifts to the buyer or seller are fine; gifts to a lender or title officer for the referral are not. Request Google and Zillow reviews while the experience is fresh.