Closing the deal.

Once your contingencies are released and the loan is clear-to-close, the deal moves quickly. Here's what to expect.

Title and escrow

Unlike some states where attorneys handle closings, Arizona uses title and escrow companies. The title company:

• Researches the property's chain of ownership to confirm the seller can convey clear title.
• Issues a title insurance policy that protects you (and your lender) against past defects.
• Holds your earnest money and the final funds in escrow.
• Coordinates signing, recording, and disbursement.

You can usually choose the title company in your offer. Both parties sometimes split the cost or follow local custom; your agent will explain how this is typically handled.

What closing costs typically include

Closing costs vary by loan, property, and lender, but the categories are predictable:

• Lender fees — origination, underwriting, processing.
• Third-party fees — appraisal, credit report, inspection, survey if required.
• Title and escrow — title insurance (owner's and lender's), escrow fees, recording.
• Prepaids and reserves — homeowners insurance (first year), property tax prorations, mortgage insurance if applicable, interest from the closing date to the end of the month.
• HOA — transfer fees, working capital contributions, prorated dues.

You'll receive a Closing Disclosure at least three business days before closing showing the exact figures. Compare it carefully to the Loan Estimate you got at application — significant changes need explanation.

The final walkthrough

Done 24–72 hours before closing. You're confirming:

• The home is in substantially the condition it was when you went under contract.
• Any agreed-upon repairs were completed.
• Anything that was supposed to stay (appliances, fixtures, attached items) is still there.

This is your last clean shot to raise issues before signing.

Signing day

You sign documents at the title company (or remotely with a mobile notary). The biggest stack is the lender's documents — most of it is standard, but read what you're signing.

Bring:

• Government-issued ID
• The wire confirmation if you're wiring funds (more on that below)
• Patience — signing takes longer than you think

Recording and possession

Your signed documents get recorded with the county. Once the recording confirms, the funds disburse and possession transfers — typically the same day, though the contract sometimes specifies otherwise. You get the keys, the garage remotes, and the home.

After you own it

A few things to handle in the first week:

• Change the locks (or rekey).
• Transfer utilities to your name.
• Update your address with employers, banks, and the post office.
• Save your closing package — you'll need parts of it for taxes and any future sale.