What is a Closing?

A real estate closing is the final step in a property sale. It's the moment ownership of the property transfers from the seller to the buyer.

Key things that happen during a closing:

• Signing documents: Both the buyer and seller sign numerous legal documents, including the deed, mortgage, and closing disclosures

• Transfer of funds: The buyer pays the remaining balance of the purchase price, often through a lender

• Title transfer: The property title is officially transferred to the buyer.

• Distribution of funds: The seller receives the proceeds from the sale, minus any outstanding debts or closing costs.

Would you like to learn more about Real Estate? Have you ever wanted to become a New Jersey Real Estate Salesperson License holder? Want to know more about being a New Jersey Licensed Real Estate Agent? Click on the link for the schedule of our upcoming classes for Real Estate: tocrres.com

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