🏡 What Is the Closing Process for Real Estate in Broward County, Florida?

🏡 What Is the Closing Process in Broward County, Florida?

Buying or selling a home in Broward County? Here's a step-by-step look at the closing process, so you know what to expect from contract to keys.

1. Offer Accepted & Contract Signed

Once the buyer and seller agree on price and terms, both parties sign a Florida Residential Purchase and Sale Agreement. This legally binding contract outlines closing terms, timelines, deposits, and contingencies.

2. Earnest Money Deposit (Escrow)

The buyer typically submits an earnest money deposit (usually 1–3% of the purchase price) to a licensed escrow agent (often a title company or attorney). This shows good faith and secures the contract.

3. Title Search & Title Insurance

The title company (or real estate attorney) performs a title search to ensure the property is free of liens, unpaid taxes, or ownership disputes.

  • They issue a title commitment

  • The buyer usually purchases title insurance to protect against future claims

4. Home Inspection & Appraisal

  • The buyer schedules a home inspection to check for issues like roof damage, mold, or plumbing concerns.

  • If financing is involved, the lender orders an appraisal to confirm the home’s value aligns with the loan amount.

5. Loan Underwriting (if financed)

The buyer’s lender verifies financial documents, credit, and the property.

  • Once approved, a Clear to Close (CTC) is issued, meaning the buyer is fully approved for funding.

6. Survey & Municipal Lien Search

  • A property survey shows lot lines, easements, and encroachments.

  • In Broward County, a municipal lien search checks for code violations, unpaid utility bills, and open permits.

7. Closing Disclosure

At least 3 days before closing, the buyer receives a Closing Disclosure (CD) that breaks down all closing costs, loan terms, and final amounts due.

8. Final Walkthrough

Typically 24–48 hours before closing, the buyer does a final walkthrough to confirm the home is in agreed-upon condition and that any negotiated repairs were completed.

9. Closing Day

On the scheduled date:

  • Buyer signs mortgage & loan documents (if financed)

  • Seller signs the deed and closing documents

  • Funds are transferred by wire

  • The deed is recorded in Broward County public records

  • Buyer receives the keys to the property

10. Post-Closing

  • Buyer receives a copy of the deed. Many HOA and Condo Associations require the deed to close on the property.

  • Title company sends the buyer’s owner’s title insurance policy

  • Buyer sets up utilities, homestead exemption (if applicable), and changes mailing address

📍 Who Handles Closings in Broward County?

In Broward County, it’s customary for the buyer to choose the title company or Attorney Title Compny and pay for the owner’s title insurance policy—though this can be negotiated in the contract.

Need Help Navigating the Closing Process?

As an experienced Broward County Realtor, Susan J. Penn helps guide buyers and sellers every step of the way. From negotiations to title questions, Susan makes your real estate journey smooth and successful.

📞 Contact Susan today for expert guidance and local insights!