Definition: The settlement of a real estate transaction, when the parties complete required documents, account for funds, and carry out the agreed transfer. It is also called a title closing.
Example
The buyer supplies the required funds, the seller delivers the deed, and the closing agent accounts for the disbursements.
Keep the distinction clear
Signing, funding, recording, and possession do not always occur at the same moment. The contract and closing instructions determine the required sequence.
Related terms
Deed · Prorate · Pre-Closing Inspection
Keep studying
Cash Purchases and Closing Roles: What Changes Without a Lender?
References: California DRE: real estate glossary
Pronunciation (US): KLOH-zing (capitals show stress)
Pronunciation reference: Merriam-Webster
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