Among the documents signed at the closing are the Closing Disclosure, Promissory Note and the Deed of Trust. The Closing Disclosure is the form that lists the terms and costs of your transaction. The lender is required by law to provide this information to the buyer three days before the closing. The Promissory Note is the buyer’s promise to repay the mortgage loan to the lender. The promissory note contains the details of the loan, which includes the amount, interest rate, and payment dates. It also contains the time length of the mortgage, payment address, and the consequences in case of mortgage loan default. The Deed of trust transfers legal ownership of the property. However, the lender can foreclose on the property if the buyer does not pay the mortgage. 

As a neutral third party, title companies help to simplify the process to make it as stress-free as possible. They conduct a title search to ensure that the property has no liens. At the closing, they will coordinate the flow of the documents and disburse funds appropriately. The experienced agents at title companies know the requirements of the lenders and the county tax offices. They will handle the recording of the deed and loan documents. A final statement detailing the funds received and disbursed is provided at the closing. For protection of their property rights, buyers should purchase the title insurance policy.