Home Buying

What to Expect At Settlement: Buyer Edition

Posted by Copper Hill on Wed, Nov 25, '20

Settlement is undoubtedly one of the most exciting (if not the most exciting) points in the process of a real estate transaction. When settlement occurs, the transfer of property is completed, and the buyer and seller close out the deal. In this post, we’ll explore what to expect at settlement from the perspective of the buyer.


What is Settlement?

For the buyer, it’s the final stop before collecting the keys and settling into a new home. For the seller, it’s the last stop before officially moving a home from their possession and moving onto another property. Settlement date is typically set far in advance from when the offer is made, allowing both buyers and sellers to do their due diligence in and around the transaction, and it’s the final event before the deal closes. When the settlement is finished, the house is legally yours!


Expect to Pay Up

Settlement is the point at which all credits, debits, sales, and numbers regarding the transaction are finalized. You’ll need to pay for closing costs in addition to the home you’re purchasing. If you’ve had the seller make any repairs or adjustments, those will be reflected in the new total. Likewise, if the seller owes any credits, they’ll show up here. It’s always a good idea to plan to bring a little extra at closing in case of costs that weren’t planned for. As always, it's good to expect the unexpected.



When preparing for settlement, it’s important to bring all relevant documents, even if you’re not sure if you’ll need it. Failing to bring all necessary information, including bank statements and personal identification, can result in the settlement being drawn out, pushing back the entire closing of the transaction. Nobody wants that to happen.


Read Carefully

When sitting down at settlement, all parties will complete the necessary paperwork to ensure the smooth legal process of transferring the property. You’ll receive documents that need to be signed in order to finalize the settlement; it is very important that these documents are read, analyzed, and scrutinized very carefully. This is the last opportunity to make sure that all of the information contained in the documents is what you’ve been expecting, and that you are in agreement with everything across the board. Read every line before signing and finalizing the transaction.


Buying and selling can be stressful, but it certainly doesn’t have to be. Copper Hill Real Estate can find you a home you love for a price you can afford. Get in touch with us to learn more.


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