The Finish Line Is in Sight
You’ve done the hard work — found your home, negotiated the contract, navigated inspections and appraisals, and watched your lender work through the final details. Closing day is almost here. This last stretch is about preparation and celebration.
We’re Susan & Kurt Johnston, REALTORS® with Iron Valley Real Estate of York County, and we genuinely love closing day. There’s nothing quite like handing a buyer the keys to a home they’ve worked hard to earn. Here’s everything you need to know to cross the finish line smoothly — and start your new chapter on the right foot.
What Happens at Closing (Settlement)
In Pennsylvania, the closing is typically called settlement and is conducted at a title company or settlement agency office. Both buyer and seller (often) attend, along with their respective agents and the settlement officer.
What to Bring to Settlement
- Government-issued photo ID (driver’s license or passport)
- Certified funds or confirmed wire transfer for closing costs — confirm the exact amount and payment method with your settlement agent in advance
- Proof of homeowner’s insurance — your settlement agent may request this beforehand
What You’ll Sign at Settlement
- The Closing Disclosure — confirms all loan terms and closing costs
- The Mortgage Note — your promise to repay the loan
- The Deed of Trust — gives the lender a security interest in the property
- Various federal and Pennsylvania state disclosure documents
- The Deed — the document that officially transfers ownership to you
How long does settlement take? Typically 1–2 hours for a financed purchase. Come prepared, ask questions freely, and don’t feel rushed to sign anything you don’t fully understand.
Understanding Your Closing Costs
Closing costs are the fees and expenses paid at settlement — separate from your down payment. Here’s a breakdown of what to expect in Pennsylvania:
| Cost Category | Who Pays | Typical Amount |
|---|---|---|
| Loan Origination Fee | Buyer | 0.5%–1% of loan amount |
| Appraisal Fee | Buyer (often paid upfront) | $400–$700 |
| Credit Report Fee | Buyer | $25–$75 |
| Title Search & Title Insurance | Buyer | $500–$1,500+ |
| Settlement / Closing Fee | Buyer (sometimes split) | $300–$600 |
| Recording Fees | Buyer | $100–$200 |
| PA State Transfer Tax | Split 50/50 buyer & seller | 2% of purchase price total (1% each) |
| Local Transfer Tax | Varies by municipality | Varies — ask us about your specific area |
| Prepaid Interest | Buyer | Depends on closing date in the month |
| Homeowner’s Insurance Premium | Buyer | First year often paid at closing |
| Escrow Reserves | Buyer | Typically 2–3 months of taxes & insurance |
| HOA Fees (if applicable) | Buyer | Pro-rated from closing date |
Total closing costs for buyers in Pennsylvania typically range from 2%–5% of the loan amount, depending on loan type, lender, and municipality. Your lender will provide a Loan Estimate early in the process and a final Closing Disclosure 3 business days before settlement.
Tip: Ask us whether seller-paid closing costs are a realistic negotiation point in your specific transaction. In some markets and price ranges, sellers will contribute to buyer closing costs as part of the deal.
The Final Walkthrough
Within 24–48 hours before settlement, you’ll complete a final walkthrough of the home. This is your opportunity to verify:
- The home is in the same condition as when you went under contract
- Any agreed-upon repairs have been completed — ask for receipts
- All seller-owned personal property has been removed
- All fixtures that were to remain with the home are present
- No new damage has occurred since your inspection
- Utilities are still functioning
If something is wrong during the final walkthrough, tell us immediately. We can address issues before settlement — through a price adjustment, credit, or repair agreement — rather than after you’ve signed.
After Closing: Your First 30 Days as a Homeowner
Security First (Days 1–3)
- Change all exterior door locks. You don’t know how many copies of the previous keys exist.
- Change garage door codes and reprogram all keypad openers.
- Locate your electrical panel, water main shutoff, and gas shutoff. Know where these are before you need them in an emergency.
Administrative Tasks (Week 1)
- Forward your mail through USPS (usps.com/move)
- Update your address with your employer, bank, IRS, Social Security, DMV, insurance providers, and subscriptions
- Register to vote at your new address
- File your settlement documents in a safe, permanent location
Home Setup (Weeks 1–2)
- Test all smoke detectors and carbon monoxide detectors; replace batteries
- Locate and review any appliance manuals left by the previous owner
- Deep clean before furniture arrives if the home was previously occupied
- Introduce yourself to your neighbors — good neighbor relationships are genuinely invaluable
Maintenance Planning (Month 1)
- Schedule an HVAC filter check and change; set a recurring reminder every 1–3 months
- Check the water heater’s age and condition
- Have the chimney inspected if you plan to use the fireplace
- Create a simple home maintenance calendar
- Start a home maintenance fund — a common rule of thumb is 1%–2% of your home’s value per year
Pennsylvania Homeowner Benefits to Know
| Program | What It Offers | Where to Learn More |
|---|---|---|
| Homestead Exemption | Reduces school property taxes on your primary residence | Contact your County Assessment Office — deadlines vary by county, so apply promptly after settlement |
| PA Property Tax / Rent Rebate | Rebates for qualifying seniors and those with disabilities | revenue.pa.gov |
| Local First-Time Buyer Assistance | Some York & Lancaster municipalities offer ongoing grants or credits | Ask us — we track local programs for our clients |
Your Home Maintenance Calendar
Staying on top of routine maintenance protects your investment and prevents small issues from becoming expensive ones:
| Season | Key Tasks |
|---|---|
| Spring | HVAC service (AC check), inspect roof after winter, check for foundation moisture, clean gutters, test outdoor spigots |
| Summer | Check caulking around windows and doors, inspect deck or patio, trim trees away from house, test smoke & CO detectors |
| Fall | Service furnace before heating season, clean gutters after leaves fall, check weatherstripping, drain and disconnect outdoor hoses |
| Winter | Monitor for ice dams on roof, keep heat at minimum 55°F if traveling, know your water main shutoff location in case of frozen pipes |
| Year-Round | Replace HVAC filter every 1–3 months, test smoke/CO detectors monthly, check for leaks under sinks |
We’re Still Here After Closing
Our relationship doesn’t end at the settlement table. We’re here whenever you have questions — whether it’s a contractor recommendation, a property tax question, or just wondering what your home might be worth a few years down the road. Many of our clients come back to us when it’s time for their next move, and we’d love to be your REALTORS® for the long haul.
More Resources for Your Journey
- Pennsylvania Housing Finance Agency (PHFA): phfa.org — First-time buyer programs, down payment assistance
- Consumer Financial Protection Bureau (CFPB): consumerfinance.gov — Mortgage guides and loan comparison tools
- HUD Housing Counselors: hud.gov — Free or low-cost homebuyer counseling
- York County Assessment Office: yorkcountypa.gov
- Lancaster County Assessment Office: co.lancaster.pa.us