Understand the final steps of buying a home, from closing timeline to costs and what to expect on closing day.
From offer acceptance to receiving your keys, here's what happens during the typical 30-45 day closing period in Vermont.
Tip: Review your purchase agreement carefully and ensure you understand all contingencies and deadlines.
Tip: Most contingencies must be satisfied or waived during this period. Stay proactive and meet all deadlines.
Tip: Avoid making major purchases or changes to your credit during this period. It can affect your loan approval.
Tip: The closing disclosure must be provided at least 3 business days before closing. Review it carefully for accuracy.
Tip: Bring your government-issued ID and be prepared for 1-2 hours of signing documents. Congratulations!
Closing costs typically range from 2-5% of the purchase price. Here's a breakdown of common fees you can expect.
Fee charged by lender for processing your loan
Optional fee to lower your interest rate
Cost to determine property value
Fee to pull your credit report
Professional inspection of property condition
Property boundary survey (if required)
Termite and pest inspection (if required)
Research to verify clear property title
Protects against title defects
Fee for managing transaction funds
Government fee to record the deed
First year premium (paid at closing)
Prorated portion based on closing date
Interest from closing date to first payment
If applicable, prorated HOA dues
Low End (2%)
$6,000
Average (3.5%)
$10,500
High End (5%)
$15,000
Plus your down payment. These costs can vary based on loan type, lender, and property location in Vermont.
Protect yourself and save money with these essential tips for managing your closing costs.
On a $300,000 home in Vermont, expect $6,000-$15,000 in closing costs. Plan accordingly and have extra reserves.
Lenders must provide a Loan Estimate within 3 days of application. This helps you compare offers and understand costs.
In some markets, you can negotiate for the seller to cover part of your closing costs, especially if repairs are needed.
Call your title company directly to confirm wiring instructions. Wire fraud is common—never rely on email alone.
Compare it to your Loan Estimate. Question any fees that have increased significantly or that you don't understand.
Don't move money between accounts or make large deposits during the closing process without notifying your lender.
Come prepared with these essential documents to ensure a smooth closing process.
Complete this walkthrough 24 hours before closing to ensure the property is in the agreed-upon condition.
All agreed-upon repairs have been completed
Property is in same condition as when offer was made
All fixtures and appliances included in sale are present
No new damage has occurred to the property
Utilities are on and functioning (test all outlets, faucets, appliances)
Garage door openers and keys are available
All seller's belongings have been removed
Windows and doors lock properly
Important
If you discover any issues during the final walkthrough, notify your agent immediately. Don't proceed to closing until problems are resolved or addressed in writing.
Our team will guide you through every step of the closing process, ensuring you understand all costs and paperwork. Let's make your closing day smooth and stress-free.
