What and Where Your Closing Will Take Place
If you are taking out a loan, your closing will take place at the office of a settlement agent, also called an “escrowee.” The escrowee can be the title company — that is, the company that insures your ownership of the property. However, in some states (such as Alaska), or local areas (such as Southern California), you are more likely to close at the lender’s office, or at an escrow company. Upon request, some title or escrow companies will send a mobile escrowee to close in a location convenient to all of the parties.

If you are purchasing your home for cash, no lender is involved, so you and the seller can decide the most convenient closing location. Your attorney, or the seller’s attorney, may offer his or her office, but recent restrictions in client trust accounting may make it impossible for the attorney to disburse funds immediately.

Some closings are “witness-only.” That means that a notary or attorney goes to a location convenient to the buyer and seller to provide the loan documents and disbursement services. However, the notary or attorney will not explain the legal effect of the documents or the closing. Witness-only closings are not legal in all states. For example, Connecticut, Delaware, and Georgia require an attorney to complete all aspects of the closing. These closings will often close in the attorney’s office.

When the Closing Is Over
When all the above is done, you become the owner of the property. You will be allowed to take possession immediately or shortly after the closing, unless you have made an agreement with the seller to take possession either earlier or later. All of the requirements, tasks, and other promises in your contract with the seller will be met, completed, or delivered, unless you have made post-closing agreements. Common post-closing agreements involve reimbursements for real property taxes when the exact amounts to be due are unknown at the closing, or repairs that could not be made prior to the closing.