Your offer has been accepted — congratulations! You’re now in the final stretch of buying your home in Virginia Beach, Chesapeake, Norfolk, Suffolk, or anywhere across Hampton Roads. The only thing standing between you and your new keys is a stage called closing, and understanding this process can make your home purchase smoother, faster, and far less stressful.

In Coastal Virginia, closings typically take around 30–40 days, depending on your lender, the title company, inspections, and whether you are using a VA, FHA, or conventional loan. Below is a clear, easy-to-follow breakdown of how closing works in our region.

What Is Closing on a House?

Closing (also called “settlement” in Virginia) is the final legal step where:

• Your loan is finalized

• Your down payment and closing funds are transferred

• The seller is paid

• Ownership of the property legally transfers to you

• The deed is recorded with the city (Virginia Beach, Norfolk, Chesapeake, etc.)

Once recorded, you officially own your new Hampton Roads home.

The Closing Process in Hampton Roads (Reorganized, Easy-to-Follow Order)

1. Choose Your Title Company

In Virginia, the buyer typically selects the title/settlement company.
This company handles:

• Escrow

• Title search

• Closing preparations

• Recording the deed

• Coordinating with your lender

If you’re unsure who to use, local agents like us (Tom & Dariya) can recommend trusted Hampton Roads title companies.

2. Submit Earnest Money (Deposit)

Your earnest money is your “good-faith” deposit — it shows you’re committed to buying the home.
In Virginia, earnest money is usually:

• Paid within a few days after offer acceptance

• Held in escrow by the title company or listing brokerage

• Credited toward your down payment at closing

This money is protected by your contract contingencies (inspection, financing, appraisal, etc.).

3. Complete Your Home Inspection

Hampton Roads homes vary from historic Craftsman houses to newer suburban builds — inspections are extremely important.
Your licensed inspector examines:

• Roof & structure

• HVAC (especially important here during hot summers)

• Plumbing, electrical systems

• Crawl spaces (common in our region)

• Moisture issues (a major coastal concern)

If issues arise, you may:

• Request repairs

• Negotiate concessions

• Walk away (if your contract allows)

4. Secure Homeowners Insurance

Lenders require a homeowners insurance policy before closing.
In Coastal Virginia, you may also need:

• Wind insurance

• Flood insurance (required in certain FEMA zones)

Your agent or lender will help you determine what applies based on the property's location.

5. Home Appraisal Ordered by the Lender

This step verifies the market value of the home.
If the appraisal comes in:

✔ At or above the purchase price: you move forward
✘ Below value: you may renegotiate with the seller or bring additional cash

Appraisal issues are common in competitive Hampton Roads neighborhoods (Virginia Beach oceanfront, Ghent, Great Bridge, etc.).

6. Title Search & Title Insurance

The title company checks for:

• Liens or judgments

• Unpaid taxes

• Ownership disputes

• Clerical errors from past recordings

You will choose a buyer’s title insurance policy, and in most cases, you’ll also pay for a lender’s policy (required).

This protects you for as long as you own the home.

7. Final Mortgage Underwriting & “Clear to Close”

Your lender reviews:

• Employment

• Bank statements

• Credit

• Debt-to-income ratio

• Documentation provided during loan approval

Once everything is verified, your lender issues Clear to Close, meaning the loan is ready to be funded.

8. Review Your Closing Disclosure

Legally, your lender must provide your Closing Disclosure (CD) at least 3 business days before closing.

It includes:

• Final loan terms

• Interest rate

• Closing costs

• Cash needed to close

• Taxes, insurance, and prepaid items

Compare it carefully with your Loan Estimate and report discrepancies immediately.

9. Final Walkthrough of the Home

Usually completed 24–48 hours before settlement, this step confirms:

• Repairs were completed

• The home is in agreed-upon condition

• No new issues have appeared

Once you approve the walkthrough, you’re nearly at the finish line.

What Happens on Closing Day in Hampton Roads?

Expect to spend 1–2 hours signing documents at the title office (or sometimes via mobile notary).

Bring:

• Valid photo ID

• Cashier’s check or wire transfer instructions

• Proof of homeowners insurance

• Final closing disclosure

• Any required lender documents

You’ll Sign:

• Promissory note

• Deed of trust

• Final CD

• Title documents

• Tax forms

• Settlement statements

After signing, the title company sends the deed to be recorded with the city — and once recorded, you officially own the home.

Protect Yourself from Wire Fraud (Major Issue in Our Area)

Hampton Roads, like many markets, sees increased wire-fraud attempts.

Protect yourself by:

• Never relying on wiring instructions sent by email

• Calling your title company using a verified phone number

• Confirming account information verbally

• Questioning any last-minute changes

• Using two-factor authentication on your email

• Never sending sensitive information unencrypted

If you think something is wrong, call your lender or agent immediately.

After Closing: Recording & Keys

Once your funds arrive and the lender releases the mortgage money:

1. The title company records the deed

2. The seller is paid

3. You receive your keys

4. You officially own your Hampton Roads home

Congratulations — welcome home!

Tips for a Smooth Closing in Hampton Roads

• Don’t change jobs during the process

• Avoid new credit inquiries or major purchases

• Respond quickly to lender requests

• Keep your documentation organized

• Stay in communication with your agent and lender

These small steps prevent delays and keep your closing on track.

Ready to Buy in Hampton Roads? We’re Here to Help.

Closing doesn’t have to be confusing — especially when you have local experts guiding you. Whether you're planning to buy in Virginia Beach, Chesapeake, Norfolk, or Suffolk, we’ll walk you through every step and help you close with confidence.

📲 Tom & Dariya Milan — Luxury Elite Team | VAHomes.com
Your Hampton Roads Real Estate Specialists