How Ohio Home Closings Work From Contract To Keys

Buying or selling in Lockbourne and wondering what happens after you sign the contract? You are not alone. The path from contract to keys includes inspections, appraisals, title work, loan approvals, and county recording steps that vary by location. In this guide, you will learn the exact flow for Ohio closings, what to expect in Franklin and Pickaway counties, who typically pays which fees, and how to avoid last‑minute delays. Let’s dive in.

Contract to keys: the big picture

Closing timelines can vary, but most Ohio purchases follow a predictable sequence. Your specific contract and lender will set exact dates.

Verify your county first

Lockbourne straddles the Franklin and Pickaway county line. Many steps depend on which county your parcel is in. Confirm early by looking up your parcel with the Franklin County Auditor or the Pickaway County Auditor. This helps your title company search the correct records and apply the right recording and transfer fees.

Typical timeline (contract to close)

• Days 0–3: Earnest money is deposited per the contract. It is commonly held by the title company or listing broker.
• Days 3–10: Inspection window, often 7–10 days. You schedule the general inspection and optional tests like radon, well, septic, or pest.
• Days 3–21: Appraisal is ordered by your lender and typically returns in 7–14 days.
• Days 3–14: Title search begins and the title commitment is issued, often within 5–10 business days.
• Days 7–30: Underwriting reviews your file and clears conditions.
• At least 3 business days before closing: You receive the Closing Disclosure.
• Closing day to 1 business day after: Funds are disbursed, the deed and mortgage are recorded, and you get the keys once recording and funding are confirmed.

Common contract‑to‑close ranges: conventional and FHA/VA loans often run 30–45 days. All‑cash deals can close faster, sometimes 7–21 days, if title and inspections are ready.

Title, escrow, and recording

Ohio closings are typically handled by a title company that manages escrow, coordinates documents, and issues title insurance.

What the title company does

• Opens escrow, collects the contract and earnest money.
• Searches public records for liens, mortgages, judgments, easements, and restrictions.
• Issues a title commitment listing exceptions and items to cure.
• Resolves title issues, obtains payoffs and releases, and prepares closing documents.
• Issues owner’s and lender’s title insurance policies at closing.

Where documents are recorded

Deeds and mortgages are recorded with the county recorder where the property sits. In Lockbourne, this is either the Franklin County Recorder or the Pickaway County Recorder. Recording and conveyance fees vary by county and are often negotiated in the contract. Your title company will confirm the correct office and fee schedule.

Inspections, appraisal, and underwriting

Getting ahead of inspections and lender requirements keeps your closing on track.

Home inspection and optional tests

Most buyers schedule a general inspection during the contingency window and receive a report within 24–48 hours. In and around Lockbourne, properties may use private well or septic. If so, contact the appropriate health department early: Franklin County Public Health or Pickaway County Public Health. Radon testing is common in Ohio, and the EPA recommends testing as part of a home purchase. If a home was built before 1978, federal law requires a lead‑based paint disclosure.

Appraisal basics and value gaps

Your lender orders the appraisal after loan application. Turnaround is typically 7–14 days. If the value comes in low, you can renegotiate the price, submit better comparable sales, add cash to cover the gap, or cancel if your contract allows.

Underwriting and clearing conditions

Underwriters review your finances, the appraisal, title evidence, and HOA documents if applicable. Common conditions include updated bank statements, proof of insurance, payoff statements for the seller, and resolving title exceptions. Respond quickly to requests to help avoid delays.

Who pays what in Central Ohio

Many fees are negotiable in the purchase agreement. Local custom is a starting point, not a rule. Confirm what your contract says.

Typical seller costs

• Real estate broker commissions.
• Owner’s title insurance premium in many Ohio markets.
• Payoff of mortgages, release fees, and any liens or judgments.
• Prorated property taxes through the closing date.
• Agreed repairs or credits.
• County conveyance or transfer fees, often seller‑paid but negotiable.

Typical buyer costs

• Loan application, underwriting, and credit report fees.
• Appraisal fee.
• Lender’s title insurance premium.
• Recording fees for the mortgage and often a share of deed recording costs, depending on the county and contract.
• Survey, HOA transfer fees, and specialty inspections such as well, septic, or radon.
• Escrows for property taxes and homeowner’s insurance as required by the lender.

Closing week: disclosures, signing, and keys

The 3‑day Closing Disclosure rule

For most financed purchases, federal TRID rules require that borrowers receive the Closing Disclosure at least 3 business days before closing. Review it as soon as you receive it and ask questions early. You can read more about the rule from the CFPB’s Closing Disclosure guidance.

What happens on closing day

You sign at the title company, an attorney office, or via a remote option if your lender and title company allow it. Bring a valid ID and confirm wire instructions by phone using a known number for the title company. After signing, the lender funds, the title company records the deed and mortgage with the correct county, and the transaction disburses.

Final walkthrough and possession

You typically complete a final walkthrough within 24–48 hours of closing to verify the home’s condition and any agreed repairs. Keys and possession usually transfer after funds are disbursed and the deed is recorded. Some contracts set a different possession date, so review your agreement.

Avoid last‑minute delays

• Loan underwriting: Get fully pre‑approved, keep employment and assets stable, and respond quickly to lender requests.
• Title issues: Open title early, provide payoff info, and address probate or judgments as soon as they surface.
• Appraisal shortfall: Price realistically, prepare comps, and consider appraisal gap strategies.
• Septic and well: Determine utility type early and order required inspections and tests right away.
• HOA or municipal items: Request HOA estoppel and rules early; some take time to process.
• Wire fraud: Always verify wiring instructions by phone with your title company. Do not rely on email alone.
• Closing Disclosure review: Compare to your loan estimate and ask questions as soon as you receive it.
• Recording office timing: Avoid scheduling right before weekends or holidays if same‑day recording matters.

Quick county resources

• Parcel and tax records for Franklin County: Franklin County Auditor
• Parcel and tax records for Pickaway County: Pickaway County Auditor
• Recording information for Franklin County: Franklin County Recorder
• Recording information for Pickaway County: Pickaway County Recorder
• Septic and well guidance: Franklin County Public Health and Pickaway County Public Health
• Radon information: EPA radon resources

Closing in Lockbourne can be smooth and predictable when you know each step and verify the right county early. If you want a local pro to manage the moving parts and keep you informed at every stage, connect with Brad Gregg for clear guidance from contract to keys.

FAQs

How long do Lockbourne home closings usually take?

• Most financed purchases close in about 30–45 days, while all‑cash deals can close faster if title and inspections are ready.

How do I confirm if my Lockbourne property is in Franklin or Pickaway County?

• Look up the parcel using the Franklin County Auditor or the Pickaway County Auditor; your title company can also verify the parcel ID.

What happens if my appraisal comes in low in Ohio?

• You can renegotiate price, challenge the appraisal with better comps, cover the gap with additional funds, or cancel if your contract allows.

When do I get my keys in Franklin or Pickaway closings?

• You typically receive keys after the lender funds and the deed is recorded with the county, unless your contract sets a different possession time.

What is the Closing Disclosure and when will I receive it?

• It is a final summary of your loan terms and closing costs that you must receive at least 3 business days before closing; see the CFPB overview for details.

Are radon tests common in Central Ohio home purchases?

• Yes, many buyers test for radon during inspections, and the EPA recommends testing as part of a home purchase in areas with radon potential.