Closing is the finish line of a real estate deal — the moment ownership legally changes hands. In Florida, the process follows a fairly predictable path, but each step carries legal and financial weight. Here’s what typically happens, and where an attorney fits in.
1. The contract is signed
Everything starts with an executed purchase and sale agreement. This document sets the price, the closing date, the deposit, and the contingencies — the conditions that let a party walk away without penalty. From here, the clock on every deadline starts running.
2. Title is examined
Next, a title search traces the property’s legal history to confirm the seller can convey clean ownership and to surface any liens, judgments, or claims. If a defect turns up — an old mortgage that was never released, an unpaid contractor’s lien, an heirship issue — it has to be cleared before closing.
3. Contingencies are satisfied
Inspections happen, financing is finalized, and any agreed repairs are handled. If the contract includes a financing or appraisal contingency, the deal depends on those coming through on time.
4. The closing documents are prepared
The closing agent prepares the settlement statement (which itemizes every dollar), the deed, and the loan documents if there’s a mortgage. This is the point where careful review matters most — the numbers, the names, and the terms all need to be right.
Most closing-day surprises trace back to something that could have been caught in the days before — in the title work or the settlement statement.
5. Signing and funding
At closing, the parties sign, funds are collected and disbursed, existing loans are paid off, and the transaction is funded. The buyer’s money goes where it’s supposed to, and the seller gets their proceeds.
6. Recording
Finally, the deed (and mortgage, if any) is recorded in the county’s public records. Recording is what makes the transfer official and protects the new owner’s claim to the property.
Where an attorney helps
A title company can process a closing, but it isn’t your legal advocate. As a closing attorney, our job is to review the contract and title for your protection, explain what you’re signing, and make sure the deal that closes is the deal you agreed to.
- Reviewing the contract and its deadlines
- Examining title and clearing defects
- Checking the settlement statement for errors
- Preparing and recording the deed correctly