You’ve found the perfect home. The offer is accepted. Inspections are done. Now comes one of the final—and most important—steps in your real estate journey: closing.
At Annie Scott Realty Group LLC, I believe in making every part of the buying and selling process as clear and stress-free as possible. That includes helping clients understand what to expect when it’s time to close.
Here’s a step-by-step breakdown of how the closing process works in Indiana, and how I help ensure everything goes smoothly.
Step 1: Title Search & Title Insurance
Once the purchase agreement is signed, a title company will perform a title search to make sure the property has a clean title—free from liens, claims, or ownership disputes.
You’ll also be issued title insurance, which protects both the buyer and lender against any future title-related problems.
Why it matters: This step ensures you’re buying a property with full legal ownership rights.
Step 2: Escrow is Opened
The buyer typically deposits earnest money into an escrow account, held by the title company or brokerage. This shows the seller you’re committed and serious about the purchase.
During this time, both parties fulfill the contingencies outlined in the purchase agreement (such as financing, appraisal, and final inspections).
Step 3: Home Appraisal and Final Loan Approval (If Financing)
If you’re using a mortgage, the lender will order an appraisal to confirm the home’s value supports the loan amount. Once the appraisal and underwriting are complete, the lender issues a Clear to Close—the final green light for funding the loan.
Step 4: Final Walkthrough
Typically 24 to 48 hours before closing, the buyer will do a final walkthrough to ensure the property is in the same condition as agreed and that any requested repairs were completed.
Why it matters: This is your chance to verify the home is move-in ready and matches the terms of the contract.
Step 5: Closing Day
In Indiana, real estate closings are often handled by a title company, though attorneys may also be involved. On closing day:
- The buyer signs mortgage documents, disclosures, and the closing disclosure form.
- The seller signs the deed and transfer paperwork.
- Funds are distributed and final payments (like commissions, taxes, and loan payoffs) are made.
Once everything is signed and recorded, the buyer receives the keys, and ownership officially transfers.
Step 6: Possession and Post-Closing Details
Possession usually happens immediately after closing, unless otherwise negotiated. Some sellers request a few extra days to move out, known as a post-possession agreement.
After closing, buyers should:
- Switch over utilities
- Receive recorded deed copies
- Confirm their first mortgage payment date with their lender
Indiana-Specific Notes
- Indiana is a “buyer-friendly” state, with relatively straightforward closing procedures.
- We are not an “attorney state,” meaning attorneys are not required at closing, though they can be involved if desired.
- Property taxes in Indiana are paid in arrears, which means the seller typically credits the buyer for taxes owed up to the date of closing.
Final Thoughts
The closing process in Indiana is designed to protect both buyers and sellers—ensuring all financial, legal, and logistical steps are completed before the property changes hands.
At Annie Scott Realty Group LLC, I’m here to guide you through each stage of closing with clarity, communication, and care. Whether you’re buying your first home or selling a long-time family property, I’ll make sure you feel confident every step of the way.
Have questions about closing or preparing for your own real estate journey? Let’s talk.
Sources:
- Indiana Association of Realtors
- Indiana Title Insurance Company Guidelines
- U.S. Department of Housing and Urban Development (HUD)
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