From signed contract to closing day in Florida: the timeline
What happens between an accepted offer and the keys, and what you can do to keep each step moving.
The first few days
Once the contract is signed, the earnest money goes to the escrow or title company, the inspection period begins, and your lender starts or continues your file. This is when you should lock in your homeowners insurance quote and send any documents your lender asks for. Fast answers early are the easiest way to protect your closing date.
Appraisal and underwriting
The time this takes depends on the loan program, the property and how quickly documents arrive.
- The lender orders an appraisal to confirm the value of the property.
- An underwriter reviews your income, assets, credit and the property.
- You may receive a list of conditions, which are items the lender still needs before it can finish the review. Respond to each one promptly.
Title and insurance
While the loan is reviewed, the title company searches the property's history and prepares to issue title insurance. Your insurance policy needs to be in place before closing. In Florida, the condition of the roof and the age of the home can affect coverage, so start early.
The Closing Disclosure
At least three business days before closing, you must receive your Closing Disclosure. It shows your final loan terms and costs. Compare it with your Loan Estimate and ask about anything that changed. If certain major terms change after you receive it, a new three-day waiting period can begin.
Final walkthrough and closing
Do a final walkthrough shortly before closing. At closing you sign, pay any remaining amount due, and the sale is recorded. Until then, avoid opening new credit or making big purchases, because lenders may check again before funding.
Questions about your situation?
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