What is a house “closing”?
The so-called “closing” is the final transfer of the house to the buyer. It occurs after both the seller and the buyer have met all the terms of the contract and the deed has been recorded. Closing also refers to the time when the transfer will occur, such as “the closing on my house will happen on January 27 at 10:00 a.m.” The event referred to as the closing frequently takes place at the office of the professional who handles the transaction, such as a title officer or real estate lawyer.
The so-called “closing” is the final transfer of the house to the buyer. It occurs after both the seller and the buyer have met all the terms of the contract and the deed has been recorded. Closing also refers to the time when the transfer will occur, such as “the closing on my house will happen on January 27 at 10:00 a.m.” The event referred to as the closing frequently takes place at the office of the professional who handles the transaction, such as a title officer or real estate lawyer.
The house closing is the final transfer of the ownership of a house from the seller to the buyer, which occurs after both have met all the terms of their contract and the deed has been recorded. This term can also be used to explain the timing of when the deed/ownership of the house will be transferred to the new owners. The closing usually takes place at the office of someone like a title officer, escrow officer, or real estate lawyer—someone who is licensed in initiating the transaction and purchase agreement.
Related Questions
- I already have my house plans, builder, and lot picked out. Can I get a one time closing to build my house as well as buy the land?
- Do I need legal advice when making an offer on a house, signing a purchase & sale, or when signing closing documents?
- What are the steps to buying a house and closing on it?
