The closing usually occurs at the closing attorney’s office (some closings now happen without a meeting – where the attorney processes and couriers all the documents and you sign witnessed by a Notary). People attending usually include the buyer (you), the seller, the lender's attorney, the seller’s attorney (if they have one) and the real estate agents. The meeting usually takes less than a hour. During the meeting settlement costs are reviewed and a settlement statement is signed by you and the sellers. You will also have to sign such things as the mortgage (Deed of Trust or Security Instrument), the promissory note and the Truth-in-Lending Statement. You will need to provide evidence of required insurance and inspections.

If your monthly payments are required to include real estate taxes and hazard insurance, an escrow account is established. When all the documents are in order, checks are exchanged and you will receive copies of all the documents you signed. The real estate agents and the seller will then look relieved and will probably congratulate you and wish a happy life in your new home.