The process of closing on a property involves an escrow agent obtaining the appropriate documents and instructions from the buyer, seller, and mortgage lender.  Assuming there are no problems with the documents and instructions, the seller signs the deed to the property, the buyer signs the mortgage and delivers the down payment, and the escrow agent sends the signed papers to the new lender. The lender approves the loan (they are often pre-approved so this may be a formality) and sends back the completed mortgage documents to the escrow agent and delivers the money for the property to the escrow account. The escrow agent then disperses the money to the seller, the sellers lender (if applicable), the real estate agents, the title companies, and any other parties due payment from the sale proceeds.  The escrow agent officially records the event, delivers the documents to the appropriate government agencies and property owners (lender and buyer), and the process is complete.