The process map: contract to closing
Thirteen steps, in order, so you always know where you are and what’s still ahead.
Closing · 13 points
Who it’s for
For the buyer who just signed and wants to see the whole road ahead.
What’s on the list
- 1
Contract signed by both sides. This is when the clock starts on every deadline — count from this day.
- 2
Good-faith deposit to the escrow agent inside the contract deadline. Save the wire confirmation.
- 3
Formal loan application. The lender has to give you the Loan Estimate within 3 business days, per the CFPB.
CFPB — Loan Estimate - 4
Home inspection inside the agreed period, then you negotiate whatever it turns up.
- 5
Title opens: search, title commitment, and the survey if it applies.
- 6
Appraisal ordered by the lender.
- 7
Condo or association application and approval, if there is one. This is the step that delays the most closings in Miami — start it the day you sign.
- 8
Underwriting: conditions, more documents, and a final verification of your job and your credit.
- 9
Bind your homeowner’s insurance, and flood coverage if you need it. The lender wants it active before you close.
- 10
Final loan approval — the “clear to close.”
- 11
Closing Disclosure: you have to get it at least 3 business days before closing, per the CFPB. Compare it line by line against your Loan Estimate.
CFPB — Closing Disclosure (3 business days) - 12
Final walkthrough, the day before or the morning of, with the property already empty.
- 13
Closing: signatures, wire, deed recording, keys. Always verify the wire instructions by calling a number you looked up yourself — real estate wire fraud is real, and the FBI documents it.
FBI — Business Email Compromise / real estate wire fraud
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