CLOSING

Closing

Closing is the final step in executing a real estate transaction. The closing date is set during the negotiation phase, and is usually several weeks after the offer is formally accepted. On the closing date, the parties consummate the purchase contract, and ownership of the property is transferred to the buyer. In most jurisdictions ownership is officially transferred when a deed from the seller is delivered to the buyer.

The above text is a snippet from Wikipedia: Closing (real estate)
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closing

Noun

  1. The act by which something is closed.
    openings and closings of doors
  2. The end or conclusion of something
    The closing of the curtains.
  3. The final procedure in a house sale when documents are signed and recorded.

Adjective

  1. Coming after all others.


The above text is a snippet from Wiktionary: closing
and as such is available under the Creative Commons Attribution/Share-Alike License.

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