What To Expect In The Brooklyn Home Closing Process

It is important to be familiar with the Brooklyn home closing process, whether you are a buyer or a seller.

Uncertainty of the next steps can be anxiety-provoking for both buyers and sellers.

Although your agent will walk you through step by step, there is some comfort in having an overview of the Brooklyn home closing process. Take the time to familiarize yourself now before you begin the buying or selling journey.

Your real estate agent should begin with a consultation, whether you are a buyer or a seller. Each role in the process has preliminary work to do before negotiating a contract. You will learn what you need to do to prepare as you enter the real estate market, whether you are looking to buy or sell.

Buyers need to have their finances in order, Identify the neighborhoods of interest, and create a list of needs & wants in their new home. After completing these tasks, you can begin visiting available homes for sale.

Sellers need to prepare and stage their home, set a realistic asking price, and determine their new living arrangements for after the sale. Here is a link to a recent blog post on how to price your home correctly, one of the essential preparation steps for a seller.

Once a buyer and seller have negotiated a contract, the Brookly home closing process will begin.

A lot of activity happens at the beginning of this process for the buyer and seller. Other parties are also working in the background to meet all the legal requirements to close. Here is a link to a previous blog post that explains the roles in the real estate sales process.

A buyer submits their offer to the home seller.  What happens next?


The seller and their real estate agent will review and evaluate the offer. If the seller is not satisfied with the terms, they may counter the buyer with terms they find more acceptable. Negotiations may go back and forth between the buyer and the seller a few times before both parties agree. The final sales agreement will be drafted with any changes, and all parties will sign.


If the buyer has elected to have any inspections, they will have a specific time to complete all inspections. The seller will allow the buyer’s inspectors access to the home and have all utilities available. The home inspector will prepare a report of their findings. The buyer will respond to the seller with a request for any repairs or acceptance of the property in its current condition within the time allotted. The seller will be responsible for any agreed-upon repairs before closing and providing all receipts for the work completed to the buyer.

Loan Application

The buyer must make a formal mortgage application with their lender. There is a stipulated time period for this to be completed that will run parallel to the inspection period. The lender may have collected most of the information they need in the pre-approval process. The lender will need a copy of the sales agreement once all parties sign it. 


In the State of New York, most buyers and sellers hire an attorney to facilitate the home closing process. Once a sales agreement has been negotiated and accepted, you will want to select your attorney. The attorney will be the overseer for their client, whether buyer or seller, to ensure that their client’s interest is protected.

Board Approval

If you are purchasing a condo or coop, you will need to complete the board’s package and submit it for approval. The board will accept or deny the purchase. It is important to note that some boards will not decide without a commitment letter from your lender. This may make the closing process a little longer and should be considered when establishing a projected closing date.

Title Work

An investigation into the home title will start to ensure that there are no liens or encumbrances on the property as a vital step in the Brooklyn home closing process. Any issues found will need to be cleared before the buyer assumes ownership. The title work research will ensure the buyer obtains a free and clear title to the property.

Mortgage Processing

The mortgage company will be processing the buyer’s loan application. They will need to verify the buyer’s information provided. The lender needs to confirm the buyer is capable of making the monthly payments. The mortgage underwriter will review the findings. The underwriter’s job is to reduce the risk of the investment to the bank. The underwriter may ask for some additional information or clarification during their review to clarify any questions.


Most likely, the buyer will need to have an appraisal on the home to meet the mortgage lender requirements. The appraiser will visit the property and establish a determination of value based on the comparable homes that have recently sold in the area. They will create a written report, which is the appraisal. All the factors used to determine the price of the home are detailed in the appraiser’s report. If the appraiser observes any repairs to be corrected, they will note them in the report also. The appraiser may need to visit the property to approve any repairs on the appraisal report.

Clear To Close

The lender will complete their processing, confirm the buyer’s ability to purchase and the property’s acceptable value. At this point, they will issue a clear to close. This is the green light needed to schedule the closing.

Set Closing Date

Now, you can schedule a closing date with the closing attorney, title company, real estate agents, buyer, and seller. All parties will need to agree upon the date and time if they plan to attend the closing.

Seller Move-out

 The seller will need to make arrangements to move out of the property before closing. The buyer will need to do a final walkthrough before closing after the seller completes their move.

Utility Transfer

The buyer will transfer all utility accounts into their name by the final closing date. The seller will also need to contact the utility companies to provide a forwarding address for their final billings.

Closing Disclosure

The lender is required to provide the buyer with a closing disclosure three business days before the closing. This disclosure provides the buyer with details of all costs, their final figures for cash needed to close, and monthly payments. The buyer must sign and return this promptly to ensure the closing occurs on time.

Final Walkthrough

The buyer completes a final walkthrough of the property confirming any negotiated repairs were completed correctly. They will also check that any items negotiated to remain in the home are still there. Finally, they will check that no damages have occurred to the property since their initial viewing.


Each party will meet to review and sign all documents required to finalize the sale. The buyer will receive the keys and ownership of the property. The seller will receive their proceeds. 

Congratulations! You either bought or sold a home. You made it through the Brookly home closing process. Now you can unpack and relax.

One of the overlooked steps in the moving process is to file a change of address form through the Post Office. You can find the change of address form here

It is customary in the State of New York to have a real estate agent and an attorney representing your best interests in the Brooklyn home closing process. This is true for both buyers and sellers. Each has a distinctive role in the process. Your real estate professional will be with you from the initial phases of the home buying or selling process to the closing. The real estate attorney will prepare the final sales agreement and review all the legal documents. The attorney will attend the closing with their client.

Become familiar with the Brooklyn home closing process now. Communication with your real estate professional is key to experiencing a smooth transaction. Although we can’t guarantee it will be stress-free, we strive to make your experience as stressless as possible. 

Contact me, Charles D’Alessandro, your Brooklyn Real Estate Agent with Fillmore Real Estate. As a Brooklyn real estate agent with over 30 years of experience, I can help Brooklyn home buyers, and home sellers navigate the real estate process.

In the event our office is shut down, we are always committed to your safety during the COVID-19 health crisis in compliance with the State of New York public health policies. I can be reached by phone at (718) 253-9500 ext. 1901 or by email at [email protected].

Charles D'Allesandro

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