Closing Process

Closing Process: Protecting Your American Dream

Let’s start at the very beginning – what does “closing”, “settlement” or “closing escrow” on your house mean?

Closing – or settlement as it is known in some parts of the country, is a term used for the point in time at which the title to the property is transferred to the buyers and, generally, a mortgage is given by the buyer/borrower to the lender.

What a great feeling!

Buying a house is an exciting time and the more you know about the process, the more relaxed you will be going through it.   Contact your escrow officer at North Orange County Escrow Corp for a complete printout of the closing process.  Or continue reading and we will walk you through the basic steps of the closing process. 

Escrow is an essential part of the closing process.

Escrow is an essential part of the closing process

You don’t want to start off this new chapter with any surprise costs or fees! That’s why all closing costs should be provided to you before you sign for your new home. Usually, your mortgage lender will provide a Good Faith Estimate of your loan costs to eliminate the element of surprise. Make sure your lender also provides a copy of the booklet Buying Your Home, which outlines the settlement or closing process. 



Once the seller accepts the contract, the countdown to closing begins! You’re that much closer to receiving the keys to your new home! But there are still some options to make this as easy as possible for you. Most often, your real estate agent or lender can provide a recommendation for a settlement agent who will prepare the closing documents and handle the rest of the closing process for you! That’s us!

Your Escrow Experts make sure the closing process is a breeze

Your Escrow Experts make sure the closing process is a breeze

From here, a escrow agency, like us here at North Orange County Escrow, will request the records and information about the title of the property you’re planning to purchase. This ensures there are no surprises down the road for the buyer when it comes to unpaid taxes, an outstanding mortgage, or a judgment on the property. These issues must be dealt with before closing, whenever possible.

Finally, your Escrow Expert is ready to prepare the HUD-1 Settlement Statement! This is the master list of all closing costs for both buyer and seller.

This is a sample HUD form

This is a sample HUD form

CLOSING DAY is almost here! On this day, you will officially become the new owner of your American Dream Home! But NOTE that, in California, the buyer must sign the documents and deposits funds into escrow 3-4 days before closing day. So that means once closing day arrives, there are no surprises and the house is finally yours!

The closing process ends with you in your new home!

The closing process ends with you in your new home!


So know that buying a home doesn’t have to be scary or cause anxiety. When you enlist one of our Escrow Experts at North Orange County Escrow, you can finally RELAX and know you’re being taken care of by a neutral, knowledgable, and respectable agency. In fact, while you’re moving into your new home or enjoying the empty property, we’ll be finishing up the closing process behind the scenes for you! So relax and know that the closing process should always end with you opening the door to your dream home!