What is commonly considered an essential part of closing a real estate transaction?

The essential part of closing a real estate transaction is the title transfer. This process involves formally changing ownership of the property from the seller to the buyer. During the closing, all necessary documents are signed, and the purchase price is paid, which culminates in the recording of the new title with the local government. This step is critical as it ensures that the buyer has a legal claim to the property and that the seller has fulfilled their obligations under the agreement.

While property staging, home inspections, and open house events play important roles in preparing a property for sale and attracting potential buyers, they do not directly influence the legal transfer of ownership, which is why title transfer is recognized as a key aspect of closing a transaction.