Weeks of house hunting, a series of offers and negotiations, and you finally got the right deal on the right house. All that is left is the closing. When it comes to home buying, the closing is the final exam, the Super Bowl, and saying "I do" -- all rolled into one.

Everyone has heard terrifying stories of closings gone wrong. While there are reasons for problems on closing day, the majority go smoothly. The keys to a good closing are knowing what to expect, planning ahead, and staying organized.

What happens before the closing
When your offer is accepted, you will sign a contract on your new home. If you've ever wondered what those "under contract!" banners attached to "for sale" signs mean, this is it. The real estate company is announcing they have successfully reached the contract point, which most likely means the property is off the market -- as long as the closing goes well, that is.

Along with the contract, you as the buyer will make a deposit of "earnest money," a good faith deposit to show you are serious about buying the house. If the buyer backs out for some reason, the earnest money goes to the seller. At this point, you and the seller will agree to a closing date. Your closing agent will help you set a variety of processes into motion so that your mortgage application, title guarantee, and home inspection will all take place in time for the closing.

Things to consider when setting your closing date
It is important to choose a closing date that allows plenty of time for the necessary paperwork to be ready, but not so far away that your mortgage guarantee will expire. Re-applying could increase your interest rate, which might throw off your budget.

If the seller has agreed to numerous repairs or improvements, you will need to have time to do an additional walk-through after they have been completed. You need to see for yourself that everything was done as agreed.

Decisions about when and how you will move into your new house may affect the day or even time of day you want to close. For inexperienced home buyers it is smart to schedule the closing on a day that can be taken off from work. While some closings can be completed on a lunch break, difficult ones may involve spending a few hours resolving unexpected issues.

What happens at the closing
Between the contract and the closing, your mortgage application will go through, the ownership of the property will be researched to make sure the seller is legally able to sell you the home, and the property will be inspected. Numerous other documents will be prepared for your signature, and your closing agent will advise you on any other services you need to secure.

Along with scheduling a home inspection, the buyer does their own walk-through to confirm that the house is the way they expected it. If any problems are found with the property, the buyer will either negotiate with the seller in advance or agree to address the issues at the closing. Some buyers prefer to negotiate at the closing, hoping the extra pressure will motivate the seller into conceding more. This can be risky, however, so if you really want that house, the safe bet is to resolve everything in advance of closing day.

When you arrive at the closing, everyone present will show picture ID. If no other issues need to be negotiated, a long process of signing papers will begin. The closing process normally involves both the buying of the home and the buyer's commitment to the mortgage -- they are done together because one is not much good without the other, and you do not want to commit to one if the other may fall through for some reason.

Once all of the paperwork is signed -- including the promissory note committing to pay the mortgage -- the buyer hands over the money. The down payment, any closing costs the buyer has agreed to, and outstanding payments for any services such as home inspection will be settled. Part of your closing agent's job is keeping the buyer informed of all expenses, so you will be prepared for this.

Common closing problems
Along with the general inspection, the property is inspected for termites, and research is done on the history of the property to make sure no debts are outstanding. If anything is wrong on the seller's end, they have to resolve it or they are not able to sell the property. If this has not occurred by the closing date, the closing may be rescheduled or you may have to find another house to buy. As unfortunate as that would be, it is better than getting stuck in the middle of a title dispute.

Title issues are rare, however. The majority of closing problems come from issues with the home itself. Repairs or improvements agreed on in the contract may not have been completed, or the need for new repairs may have surfaced in a later inspection or walk-through.

Generally, the seller will offer to write a check back to the buyer to cover the cost of these repairs. It is important to be cautious in these negotiations, because you may be signing away your right to complain if the repairs turn out to be worse than expected. Make sure your desire to close on the house does not get in the way of protecting your best interests, and be prepared to postpone the closing if necessary.

Once an agreement is reached, the closing agent will draw up a contract covering the additional circumstances and add it to the paperwork for the home. The signing can continue, and the money can be handed over.

After the closing on your new home
When the last paper is signed and the checks have been handed over, the buyer receives duplicate copies of the closing package for their records finally gets the keys to the house.