What is the term for the process of finalizing a real estate transaction?

The process of finalizing a real estate transaction is commonly referred to as "Closing and Settlement." This phase encompasses the legal and administrative steps required to transfer ownership of property from the seller to the buyer. During this process, various documents are executed, funds are exchanged, and the title to the property is officially transferred to the new owner.

Closing and settlement typically involve a real estate agent, attorney, and often a title company, all working together to ensure compliance with legal requirements and equitable transfer of the property. This stage also includes the payment of closing costs, adjustments, and obtaining final signatures. By using the precise term "Closing and Settlement," it clearly signifies the culmination of all efforts and negotiations that have taken place leading up to this critical moment in the real estate transaction.