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Prior to the Meeting

  • Resolve walkthrough issues: Any monetary issues arising from your walkthrough need to be resolved before the final settlement statement (the HUD 1 form) can be prepared. I will attempt to resolve these prior to settlement but, if not, these must be discussed before anything else takes place.

  • Review the HUD 1 settlement statement: Together, we will review the statement to be sure that all charges and credits are the correct amounts and charged to the proper people.

  • Review sample settlement documents: If you are going to want to read all the documents prior to signing, please do so prior to settlement by either arriving early or making arrangements to receive a sample set.


Important Things to Understand about Closing Days

Settlements are typically scheduled every hour so please allow for one hour in order to complete the process. Late in the day settlements are often delayed so do not be surprised if your 3 PM settlement doesn’t start until 3:30 or even 4 PM. Additionally, if you go to closing after 1PM, please know that your home may not record (and you may not be able to take possession of it) until the FOLLOWING BUSINESS DAY.

Avoid Friday settlements when possible- a Friday settlement often leads to a late recording, which cannot take place over the weekend and must then wait until Monday. If you plan to have access to your home over the weekend, schedule an earlier settlement to allow for unexpected delays.


The typical settlement meeting agenda is as follows:

  • Resolve remaining walk-through issues

  • Approve HUD 1 statement

  • Purchaser selects title insurance coverage

  • Seller signs the deed (In Charlottesville the Purchaser and Seller typically attend their own separate settlements and do not meet face-to-face. The seller will have signed the deed prior to our settlement time.)

  • Purchaser signs loan documents:

  • Loan application

  • Truth in Lending statement

  • Note

  • Deed of Trust

  • Seller’s attorney or closing company provides the keys to purchaser’s attorney or closing company

  • Purchaser tenders the check and receives keys and possession as soon as the transfer deed is recorded. Often this will depend on the transferring of funds from your lender to the closing company, and this could take anywhere from 1-5 hours after settlement, provided everything runs smoothly.

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