What You Can Expect at the Closing Table When Buying or Selling a House in Dallas Fort Worth

Both buyers and sellers have been waiting for this moment for a long time. Documents are signed, money is exchanged, and ownership is transferred at this point in the transaction. For buyers and sellers, closing involves different things, with each having different tasks and paying different fees. As a result, while most buyers and sellers have a rough understanding of what closing entails, they aren’t always clear on what happens at the closing table. So, if you’re buying or selling a home in Dallas Fort Worth, keep reading to find out what to expect at the closing table.

What Is Closing?

Gaining a better grasp of what closing is will go a long way toward helping you know what to expect at the closing table, whether you’re buying or selling a house in Dallas Fort Worth.

“Closing occurs when both the buyer and seller of a home have fulfilled all of the terms of the sales contract. In more literal words, it refers to the transfer of funds and documentation so that the seller can freely and completely transfer ownership and possession of the property to the buyer. In addition, [the seller] will repay whatever loans that still owes on the property, as well as those parties who supplied papers or services to make the sale and closing go smoothly.”

Expect at the Closing Table When Buying or Selling a House in Dallas Fort Worth

Another thing to keep in mind is that the “settlement” is a term used to describe the end of a transaction. “[T]he seller, in collaboration with the buyer, the buyer’s lender, the sales agents, and the seller’s lender, is ‘settling up’ among [themselves] and all other parties who have supplied services or papers to the transaction.”

A impartial third party, known as a settlement agent or esrowee, is frequently employed to make the settlement process more secure and to help ensure that all closing-table tasks occur in one place at the same time. This settlement agent, also known as an escrowee, “will receive all of the documents, money, and other items required to close from the parties assigned to provide them, pay out the money required to clear title, pay off all of the old lenders and lien holders, and pay the sales agents and other service providers.”

Where Does Closing Take Place?

Closing takes place in the escrowee’s office most of the time for both purchasers and sellers in Dallas Fort Worth. The escrowee is usually the title insurance firm (or one of its agents) that insures the buyer’s title to the property. (However, in some areas, the closing table is more likely to be found “at the lender’s office or at an escrow company.”)

There are also a few other possible closing venues and closing methods . .. 

  • “Some title or escrow agencies will deploy a mobile escrowee to close in a convenient location for all parties upon request.”
  • “The buyer’s lender will occasionally host the closing and function as escrowee, or bring in a notary or escrow business employee to act as escrowee,” says the author.
  • The seller’s or buyer’s “attorney” may offer his or her office, but current constraints in client trust accounting may make it impossible for the attorney to discharge funds instantly, therefore the actual transfer of monies may be handled by an escrow business.
  • There are also witness-only closings, where a “notary or attorney goes to the closing location chosen by the buyer and seller to provide the documentation and disbursement services on behalf of the buyer’s lender.”

To find out the most common and best closing-table venue in your area, contact a Dallas Fort Worth agent at 972-284-9713.

Common Closing Costs

The average costs paid at the closing table in [market city] for both buying and selling a house fall into two categories. There are fees associated with the property as well as fees associated with the mortgage.


These fees cover the expenses lenders incur in evaluating the property to be financed and include:

  • Appraisal fee
  • Inspection fee
  • Title search
  • Title insurance


These fees cover the cost of processing the mortgage loan application and include:

  • Credit report fee
  • Origination fee
  • Application fee
  • Underwriting fee
  • Local fees
  • Legal fees

Who Pays What at Closing?

There are different costs for those buying and for those selling a house in Dallas Fort Worth. But a typical cost breakdown for buyers and sellers is as follows . . . 


Most of the cost of closing for buyers has to do with the mortgage.

  • Title insurance – Protects the buyer in the case of liens or clouds on the property subsequent to the sale
  • Mortgage preparation – Fees paid to the lender for generating and drafting the mortgage loan
  • Buyer’s consents – Includes things like inspections
  • Homeowners insurance – A certain portion of the premiums to be paid at closing
  • Notary fees – Assessed when closing documents are signed somewhere other than an escrow office
  • Government recording fees – For deed and mortgage recording at the appropriate Bureau of Conveyances
  • Escrow and title document preparation fees – Typically split 50/50 by buyer and seller
  • HOA dues – Usually, two months’ worth of prepaid dues


Closing costs for sellers are a bit different and usually include:

  • Mortgage loan payoff – To be paid off in full at the closing settlement
  • Agent commissions – Usually paid by the seller, but the buyer often pays too
  • Transfer taxes/recording fees – Imposed by state/local government for transferring title
  • Escrow fees – Paid to the title company for performing the title search and preparing documents
  • Attorney fees – Paid for legal representation at the settlement
  • Survey fees – Most often for single-family dwellings to verify boundaries and determine whether there are encroachments
  • Liens/judgments – Usually in the form of unpaid HOA dues and/or prorated property taxes and included in the settlement fees.

Consult a Dallas Fort Worth Agent

Though there is some variation according to location, the typical steps in closing for buying/selling a house in Dallas Fort Worth are:

  • Buyer pays remaining closing costs laid out in the Closing Disclosure.
  • Seller signs over the property to the buyer in order to transfer ownership.
  • Escrow agent registers new deed to make the buyer the official owner.
  • Seller receives proceeds from the sale after the remaining mortgage balance and closing costs are paid.

And if the whole thing sounds more than a little confusing, that’s because it is. It takes a whole team of specialized professionals to finalize the transaction at the closing table. To be prepared, whether buying or selling a house in Dallas Fort Worth, contact us today at 972-284-9713. 

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