What is the primary purpose of a real estate closing?

The primary purpose of a real estate closing is to finalize the property sale and transfer ownership. This event marks the culmination of the buying and selling process, where all relevant documents are signed, funds are exchanged, and the property's title is officially transferred from the seller to the buyer. This process ensures that both parties fulfill their contractual obligations and that all legal requirements for the sale are met.

While verifying inspection results, evaluating mortgage terms, and negotiating prices are all important aspects of the overall real estate transaction, they occur prior to the closing. The closing itself focuses solely on ensuring that the transaction is legally completed and that ownership is transferred effectively.