Buyers hear the phrase “Clear to Close” and assume they are finished. In reality, this stage means the lender has approved the loan and all conditions have been satisfied, but the closing process is not complete yet. In NYC, where lenders, attorneys and title companies coordinate closely, understanding Clear to Close is essential.

What Clear to Close Actually Means

The lender has completed:

• Final credit review

• Employment and income verification

• Appraisal approval

• Title clearance

• Document underwriting

At this point, the lender approves the loan for closing and releases the file to scheduling.

What Still Happens After Clear to Close

• Attorneys schedule the closing date and location.

• Title company prepares the final title bill.

• Lender prepares closing disclosures and funding documents.

• Buyer receives the final CD and must wait the required review period.

• Final walk-through is completed.

Clear to Close is the green light that allows all parties to move toward the finish line.

Common Misunderstandings

• Clear to Close does not mean the closing is scheduled.

• Buyers must not change jobs or take on new credit even after CTC.

• Missing insurance, walkthrough issues or title adjustments can still cause delays.

Understanding CTC helps keep the deal smooth and predictable.

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Joseph Ranola | Five-Star Staten Island & South Brooklyn Realtor® (30 + Google reviews)
Associate Broker · Matias Real Estate | Founder · Bridge & Boro Team
Serving 103xx and 11209 / 11214 / 11228 | $25 M + closed volume
📞 917-716-1496 | ranolarealestate.com