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Buying Guide, Buying in 2026, Columbia, First Time Home BuyingPublished October 20, 2026
From Contract to Keys: A First-Time Buyer’s Guide to Closing Day
Your offer was accepted. Congratulations, you’re under contract.
This is a major milestone, but there are still important steps between acceptance and getting the keys. Your PLACE team will help coordinate the process, keep you informed, and guide you through the details.
What happens after your offer is accepted
The exact process varies by location and contract, but common next steps include:
- Delivering earnest money, if required
- Completing inspections and reviewing the findings
- Finalizing your loan application and responding to lender requests
- Ordering an appraisal when required by the lender
- Securing homeowners insurance
- Reviewing title information, seller disclosures, and other property documents
- Completing a final walkthrough before closing
- Preparing funds for your down payment and closing costs
Your agent, lender, title or escrow professionals, inspectors, and other specialists each play a role. PLACE uses a team-based approach because getting from contract to closing involves many moving parts and detailed tasks.
Plan for closing costs
Your down payment is not the only expense to prepare for. Buyers may also have costs related to inspections, appraisals, lender fees, title or escrow services, prepaid items, insurance, and other transaction-specific expenses.
The exact amount depends on your loan, location, contract terms, and property. Your lender and agent can help you understand estimated costs early, so there are fewer surprises later.
Stay financially steady
Once you are under contract, avoid making major financial changes without speaking with your lender first. That includes:
- Changing jobs or becoming self-employed
- Opening new credit accounts
- Financing a vehicle, furniture, or large purchase
- Moving money between accounts without documentation
- Making large deposits or withdrawals
- Co-signing for someone else
Even a well-intended change can affect your loan approval. When in doubt, ask your lender before taking action.
Prepare for closing day
Before closing, you will have time to review important documents, including loan information, title materials, seller disclosures, and other transaction documents.
Your title or escrow company will schedule the signing appointment. Buyers named on the loan documents generally need to attend and bring valid photo identification. Your closing funds, including any required down payment and closing costs, are typically arranged before the appointment, often by wire transfer according to instructions from the title or escrow company.
Be cautious with wire instructions. Always verify them directly with your title or escrow contact using a trusted phone number before sending funds. Never rely solely on an emailed change to wiring instructions.
The final walkthrough
Shortly before closing, you will usually complete a final walkthrough of the home. This is your opportunity to confirm that the property is in the agreed-upon condition, requested repairs have been addressed when applicable, and any included items remain in the home.
It is not another inspection. It is a final check before ownership transfers.
Getting the keys
At closing, you will sign the required loan and transaction documents. You will have time to ask questions, so speak up if anything is unclear.
Once all parties have signed, funds have been delivered, and the transaction has been recorded, ownership is finalized. Then comes the best part: receiving the keys to your new home.
Your next step
Stay responsive, keep your financial picture stable, and ask questions whenever something is unclear. Your PLACE team is there to help you move from contract to closing with confidence, and to support you long after move-in day.
Will King
| The King Group | Keller Williams Realty | PLACE
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