Buying a home or commercial property is a major milestone. But before you get the keys, there’s one crucial process to complete: the real estate closing. For buyers in West Virginia, Ohio, or Pennsylvania, understanding how a closing works can help you avoid delays, reduce stress, and make smarter decisions throughout the transaction.
This guide breaks down each stage of the closing process, whether you’re buying your first home, an investment property, or a commercial building. With decades of experience in local real estate law, Guida Law Offices is here to help you close with clarity and confidence.
1. Make an Offer and Sign the Purchase Agreement
Once you’ve found the right property, you submit an offer. If the seller accepts, both parties sign a purchase and sale agreement, which outlines:
- The sale price
- Earnest money deposit
- Financing or inspection contingencies
- Proposed closing date
It’s important to have a real estate attorney review this contract before signing, especially if the property involves commercial use or complex zoning.
2. Open Escrow and Deposit Earnest Money
Next, escrow is opened. This is a neutral account managed by a title company or attorney where the buyer’s earnest money is held. The deposit shows your commitment to the purchase and is usually applied to your down payment or closing costs.
3. Order a Title Search and Begin the Title Insurance Process
One of the most important steps is conducting a title search to ensure there are no legal issues tied to the property. These might include:
- Outstanding liens
- Easements or boundary disputes
- Errors in public records
- Unpaid taxes or claims of ownership
Once the title is clear, you can purchase title insurance, which protects you and your lender from future title problems. Guida Law Offices offers in-house title examinations and insurance services across West Virginia, Ohio, and Pennsylvania.
4. Schedule Property Inspections and the Appraisal
Inspections are a vital part of due diligence. Most buyers arrange for a general home or building inspection, as well as specialized checks for mold, termites, or structural concerns.
If you’re using a loan, your lender will also order an appraisal to verify the property’s market value. If the appraisal comes in lower than expected, you may need to renegotiate or bring more cash to closing.
5. Finalize Loan Approval
For financed purchases, you’ll work closely with your lender during underwriting. This step involves verifying your income, credit, and assets. Once approved, your lender issues a clear-to-close, which means your financing is ready.
6. Review the Closing Disclosure
At least three business days before closing, your lender must provide a Closing Disclosure. This document outlines the final details of your loan and purchase, including:
- Purchase price
- Loan terms
- Taxes and fees
- Escrow and prepaid amounts
Review the disclosure carefully and ask questions about anything that seems unclear.
7. Complete the Final Walkthrough
A day or two before closing, you’ll have a chance to walk through the property again. This is your opportunity to ensure:
- Agreed-upon repairs were completed
- Fixtures or appliances remain as agreed
- No new damage has occurred since the offer
If issues are found, your attorney can work to address them before closing.
8. Attend the Closing Appointment
At your closing appointment, you’ll sign all final documents. These often include:
- The deed
- Loan agreements
- Title paperwork
- Property transfer disclosures
Once everything is signed and funds are distributed, the deed is recorded with the county, and the property officially becomes yours.
9. Record the Deed and Transfer Utilities
After closing, your deed will be filed with the local courthouse in your county. You’ll also want to:
- Contact utility companies
- Update your address
- Confirm property tax billing details
Most buyers also receive a final closing packet with copies of all signed documents for their records.
Why Work with a Real Estate Attorney?
While title companies can handle some aspects of a closing, having a qualified attorney ensures your legal interests are protected throughout the process. This is especially important for:
- Commercial or multi-use properties
- Out-of-state purchases
- Title issues or inheritance-related sales
- Disputes over easements or boundary lines
Guida Law Offices has helped thousands of clients close properties throughout West Virginia, Ohio, and Pennsylvania. We handle everything from title searches to closing coordination, giving you peace of mind from start to finish.
Make Your Closing Simple and Secure
A successful closing requires preparation, legal insight, and trusted professionals. Whether you’re buying a home in Weirton, a commercial building in Steubenville, or land in eastern Ohio, Guida Law Offices can help guide you through each step.
Contact our team today to schedule a consultation or learn more about how we can assist with your real estate transaction.