When should I recieve the final closing costs from Title Company?

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I have closing on a home in Pennsylvania scheduled for this Friday (6/23) and I just got off the phone with a rep at the Title Insurance Company. They said that they might not have the final cost calculated until Friday morning – shouldn’t I have more time on this?? The Closing is scheduled for 3 PM. I have the Estimate from the mortgage company, but it’s just that – an estimate. Shouldn’t they be giving me more time then just a few hours?? I’m a first time buyer, so I might be just sweating the details, but would still like some input.


  1. Reply
    November 10, 2011 at 8:34 am

    Estimates are usually pretty accurate. A lot of complications can bollix up a real estate closing, but try not to think about it.

    (I know; I’ve gone through 2 in the last 3 years.)

    Although no transaction is set in stone until escrow closes, the fact that you are this close to the closing date is a good thing. Keep thinking positively and try to relax.

  2. Reply
    November 10, 2011 at 8:36 am

    In the thousands of closings I’ve handled we rarely had final closing figures available any earlier than one day before the closing. Getting the final number on the morning of closing is not unusual.

    If you’re very uncomfortable you can ask the title company to give you an estimate on Thursday so you have an idea of what to expect. If you don’t think that you’ll have time to get the money on Friday you can ask the title company to give you an estimate on Thursday that allows for some adjustments ($ 500 to $ 1000 additional) and they will return the excess to you after the closing.

  3. Reply
    Daphne C
    November 10, 2011 at 8:50 am

    Hi, I work for a mortgage broker and even though it sounds crazy thats how most home loans are. The estimate that the mortgage co. gave you is more than likely really close. You will have to pay for your insurance at the time of closing, if you choose not to escrow. There are a few other factors that could cause the closing price to go up, but the mortage co. should have notified you of any before now. So don’t sweat it, just know its normal. Breathe and congrats on your first home.

  4. Reply
    November 10, 2011 at 9:38 am

    If you have an attorney they are responsible for providing you the bottom line. But it is standard not to know too far ahead of time. The trick is to get a cashiers check for way over what they tell you to bring in. And any remaining balance will be paid to you by the title co.

  5. Reply
    November 10, 2011 at 10:01 am

    By law you;re supposed to have them no less than 24 hours in advance in PA. However, most frequently I see the numbers coming the day of the closing.

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