Final Preparations and Closing

As the closing date approaches, the closing agent coordinates with the buyer and seller to schedule the signing appointment. Just before this meeting, usually within 24 hours of closing, the buyer conducts a preclosing inspection, often called a "final walk-through." This is to verify that the property is in the same condition as when the contract was signed and that any agreed-upon repairs have been made. The closing agent then prepares the settlement statement and other documents, which are reviewed by all parties to ensure the financial numbers are correct. The buyer is informed of the exact amount of "cash to close" they need to bring, usually in the form of a wire transfer or cashier's check. Finally, on the day of closing, the earnest money that was held in escrow is transferred to the closing agent and credited toward the buyer's down payment or closing costs.