Residential Real Estate Closings
A residential real estate closing refers to the final stage of a property purchase transaction, where all necessary legal and financial paperwork is completed. It typically involves the transfer of ownership from the seller to the buyer. The closing process typically includes the exchange of funds, signing of various legal documents (such as the deed and mortgage), and the recording of the transaction with the appropriate government agency. Additionally, any outstanding fees, taxes, and other expenses related to the property are settled during the closing. It is a crucial step in the home-buying process that ensures a smooth and legal transfer of property ownership.