(1) The end of a transaction process where the deed is delivered, documents are signed, and funds are dispersed.
(2) Closing is the final stage of the real estate transaction. The date is agreed upon when both the buyer and seller go under contract on the home. On the closing date, the property is legally transferred from seller to buyer.
(3) Yet another real estate definition that’s exactly what you think it is: the period during which you work with your client, agent counterpart, and their client to nail down the terms for closing a home purchase. Closing can take a day or two … or it can drag on for weeks. It all depends on how well you’re able to negotiate with your agent peer and how your client and theirs are able to meet in the middle to finalize everything. It’s not uncommon for deals to fall through during the process, meaning it’s vital to carefully guide your client through this oft-stressful experience.