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.
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Closing in real estate is final step in selling a new properties and transfer to other owner name.
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