the final action in a commercial transaction, especially the meeting between buyer and seller (and in some cases mortgagee), or their representatives, in a transaction for sale of real estate in which all documents are signed and all procedures carried out to complete the sale; -- called also real estate closing.
The conclusion of a real estate transaction where documents are signed and recorded; and property is transferred or funds are disbursed.
The time at which all loan documents have been signed and a period wherein the borrower has the right to rescind has passed. A loan has closed when funds are disbursed to the appropriate parties and a lien against the property has been placed by the creditor for the amount of the "closed" loan.
The process of finishing the sale transaction.
The process of signing documents (usually with a notary present), distributing and collecting fees and other payments. A closing usually takes place in under an hour, but can take place over time if different signatures are required. Corrections to closing documents may occur later.
The time when a transaction is consummated, or the actual signing over of the documents and delivery of the deed; the time after signing when the documents are recorded.
The sending through the Interchange of the credit card transactions accumulated by the merchant in the terminal or Host so the merchant can be paid for them.
The day on which the formalities of the real estate sale are concluded the certificate of title abstract & deed are generally prepared for the dosing by an attorney and this cost is charged to the buyer. The buyer signs the mortgage, and dosing costs are paid. The final closing merely confirms the original agreement reached in the agreement of sale.
The exchange of securities for payment in a new issue. This generally involves participation of representatives of the issuer, bond counsel, the underwriter and other relevant parties on the date of delivery of a new issue of municipal securities. On the closing date, the issuer delivers the securities and the requisite legal documents in exchange for the purchase price. In the case of book-entry securities, global certificates typically are delivered to a registered clearing agency in advance of closing, with the registered clearing agency effecting final delivery of the securities to the underwriter on the closing date by means of book entries. Sometimes a “pre-closing” is held before delivery, typically on the day preceding closing, to review the adequacy of the closing procedures and documents. See: DELIVERY DATE.
MP] On a home purchase, the process of transferring ownership from the seller to the buyer, the disbursement of funds from the buyer and the lender to the seller, and the execution of all the documents associated with the sale of the loan.
The conclusion or consummation or a transaction.
The event at which a sale is finalized and where the buyer signs the mortgage; also called settlement.
The last step in the process of buying or refinancing your home is the closing. You will meet at the title company with the sellers and realtors to finalize the transaction. At the closing you will pay your down payment and sign the legal documents that give you ownership of the home and the mortgage money to buy it with. Closing can also be referred to as settlement.
The final steps in the transfer of property ownership. Closing typically occurs at a formal meeting between the buyer, seller, settlement agent, and the buyer's and seller's agents. At the closing, the buyer signs the mortgage and mortgage note, the seller receives payment for the property, and the buyer and/or seller pay closing costs. Once accomplished, title is transferred from the seller to the buyer. Also referred to as Settlement.
A meeting, sometimes called a settlement, during which the title to the property actually changes hands, and the buyer signs the mortgage documents and pays the closing costs
"Closing the deal;" the meeting where the deed to property is legally transferred from seller to buyer.
After your mortgage loan has been approved, a meeting is set up with the buyer, seller, and an attorney or closing agent. At this time, the buyer receives the mortgage loan amount needed to purchase the property and pledges the same as collateral or security for repayment of the debt. The mortgage documents are signed, and the title to the property passes from the seller to the buyer.
A meeting at which a loan is finalized or settled.
The act of transferring ownership of a property from seller to buyer in accordance with a sales contract – also used in conjunction with a refinance whereby ownership stays the same, but a new loan is put on the property.
The final procedure in a real estate sale, in which property ownership is transferred in exchange for an agreed upon payment.
The conclusion of the transaction. Includes but not limited to the delivery of the deed, signing of mortgage note and the disbursement of funds to the seller and other interested parties.
A closing is a meeting where the sale of a property is finalized, where the buyer signs the mortgage documents and pays the closing costs.
The point at which documents are executed and recorded and real estate formally changes ownership.
The official transfer of property ownership from seller to buyer. It usually happens in the form of a formal meeting between the buyer, seller, settlement agent, and the buyer's and seller's agents. At closing, the buyer will sign the mortgage, the seller will receive payment for the property, and the buyer and/or seller will pay the closing costs. Also referred to as Settlement.
The meeting at which title to a parcel of real estate changes hands from seller to buyer.
This is the final step in the real estate transaction. This would include the delivery of the deed, signing of the notes and final disbursement of the funds. There will be various fees associated with a closing, such as attorney fees and taxes that are called closing costs.
The final stage in a real estate transaction, when the loan funds are disbursed, the seller is paid the purchase price, and the buyer receives the deed; also called settlement.
The act of transferring ownership of a property from seller to buyer according to the sales contract. Also, that period of time when a closing is to take place.
A meeting to sign documents which transfer a property from the seller to the buyer.
The transfer of title of real property in a real estate transaction.
formally transferring title.
Conducting a transaction, which offsets the original trade and liquidates an existing position.
A meeting at which a mortgage loan is finalized by the borrower signing the mortgage documents and paying closing costs. Also called "settlement".
when the money and the life insurance policy are formally exchanged between the viatical provider and the current policy owner; this period includes the signing of contracts and change of ownership and beneficiary at the insurance company; similar to closing of escrow on real estate.
A meeting among the buyer, seller and lender organization where the sale of a property is finalized. This is also referred to as "settlement."
The meeting at which a home sale is finalized. The buyer signs the mortgage, pays closing costs and receives title to the home. The seller pays closing costs and receives the net proceeds from the home sale.
The time at which a transaction is final.
The final step in the mortgage loan process. The closing is a meeting between the homebuyer, seller, and lender in which mortgage documents are signed and title to the property passes from the seller to the buyer.
Meeting where property sale is finalized by delivery of deed from seller to buyer; this includes buyer's signing mortgage documents and paying closing costs.
sometimes called settlement, this is where all of the necessary documents are signed and consideration made in order to transfer title to the property.
A meeting during which the agreement is settled when the buyer, seller, and lender meet and finalize the terms of the agreement.
The final step in the home buying process. The buyer and seller meet to execute documents, transfer title, and exchange funds.
The gathering of the buyer, seller and lender or their agents during which property and funds legally change hands. (Also called settlement.)
The final settlement of the transfer of property. Involves the buyer's signing the mortgage note and an exchange of title.
The consummation of a real estate transaction wherein certain rights of ownership are transferred in exchange for the monetary and other considerations agreed upon. Also called loan closing.
The signing of the documents and disbursement of funds necessary to complete the property acquisition and the Co-ownership transaction.
The signing of legal documents by a company in favour of venture capitalists and getting funds transferred from the venture capitalist to the company.
The act of consummating a transaction; also known as completing escrow
The meeting between the borrower, lender, and other relevant parties where the property and funds legally change hands
Procedure whereby property title is conveyed from seller to buyer.
the meeting between the Buyer, the Seller, and/or their agents, and the Lender to legally transfer the property and the deed from the Seller to the Buyer. The loan is also "closed" which is the legal transfer of funds between the Lender and the Buyer.
the delivery of a deed, the signing of notes, mortgages and other loan documents, and the disbursement of the money borrowed.
In real estate, the closing is the conclusion of the sales transaction. It includes the delivery of the deed, financial adjustments, the signing of notes, and the disbursement of funds necessary to the transaction.
The conclusion or consummation of a transaction. In real estate, it includes the signing of a mortgage, closing statement, the signing of a note and the disbursement of funds necessary for the sale (sometimes called loan settlement).
The formal meeting where loan documents are signed and funds disbursed.
The procedure whereby title is transferred from seller to buyer, settlement.
The final step in the sale, purchase or refinance of property where ownership of the property is transferred. Click here to learn more about the closing process.
The meeting where the sale of a property is finalized and/or the mortgage loan documents are executed. Also referred to as " settlement."
Also known as "escrow" or "settlement." The process of executing legally binding documents, such as deeds and mortgages most commonly associated with the purchase of real estate and the borrowing of money to assist in the purchase.
The final step in the mortgage loan process after loan commitment. The closing is a meeting between all parties involved in the mortgage transaction in which mortgage documents are signed.(Also known as, settlement)
A meeting to finalize the purchase of a property. At the meeting, the buyer signs the mortgage documents and pays all cash amounts due.
The final phase in a Real Estate transaction where all documents are executed, the property is transferred to a new owner and the sale is recorded.
A meeting to sign documents, settle closing costs, and transfer property from a seller to a buyer.
Final stage in a real estate transaction - seller receives the purchase money, buyer receives the deed and title is transferred.
The final step in purchasing property. Here in Georgia, it's conducted by a closing attorney where all parties come together to sign documents and pass the deed.
The actual transfer of title for money or other consideration. This is the day that parties actually consummate a deal.
In real estate sales, the final procedure in which documents are executed and/or recorded, and the sale (or loan) is completed. Normally, a title company chosen by the Seller or Seller's agent conducts the closing.
A meeting at which a sale of a property is finalized by the buyer signing the loan documents, deed of trust, and paying for the property. Also called "settlement."
The concluding day of the real estate transaction, when title and deed pass from seller to buyer, the buyer signs the mortgage and pays the purchase price and closing costs.
A meeting at which the sale of a property is finalized by the signing of necessary documents, and the disbursement and payment of closing costs.
the deed to property is legally transferred from seller to buyer and documents are recorded in the public record.
Also called "settlement." A meeting of all parties involved in a property transaction during which the transaction is consummated.
In real estate, the closing refers to the completion of the real estate transaction. Before closing can occur, there are a number of things that must happen. For example, the deed must be delivered to the buyer, the money must be transfered for the purchase price, the notes must be signed, and the closing costs must be paid in full.
Conclusion of a real estate sale where the title of the property is transferred to the new owners and funds are transferred to the appropriate parties ( seller, old lender, real estate broker, etc.).
The conclusion of the financing process when the homebuyer and lender sign the security-agreement note for the mortgage loan, stating all the terms and conditions of the loan have been met, and the funds for the loan are turned over to the homebuyer's closing agent.
Closing is the final stage of the loan process that requires an exchange of any funds due the other party and any signatures for recording the transaction. Closing costs are paid at the closing.
Also called settlement, this refers to the meeting between the buyer, seller and lender or their agents at which the property and funds legally change hands.
Often referred to as "settlement". The process of completing a real estate transaction during which deeds, mortgages, leases or other required instruments are signed or delivered. Additionally, the accounting between parties is made, monies disbursed and recording of all pertinent documents prepared.
Act of transferring ownership of a property from seller to buyer in accordance with a sales contract. Also the time when a closing takes place.
A meeting at which a sale of property is finalized by the buyer signing the mortgage documents, paying closing costs, and transfer of the deed to the property.
The occasion on which and real estate transaction or mortgage is finally settled ("closed") between the parties.
The occasion when a sale is finalized; the buyer signs the mortgage and closing costs are paid.
Also called settlement. The act of transferring a property interest and money between buyer and seller, or borrower and lender, once the documents needed to effect the transfer have been executed and the required funds are available for immediate disbursement.
The completion of a real estate transaction that transfers rights of ownership to the buyer.
The point at which the property's sale becomes final. The borrower signs the mortgage papers and in return receives the deed to the property. It is at this point that the down payment and closing costs are paid to the lender.
The final procedure in which documents are executed and/or recorded, and the sale or loan is completed.Payment of a debt in equal installments of principal and interest rather than interest-only payments.
The final stage of the home buying process, during which the buyer signs the mortgage, closing costs are paid, and the real estate transaction is consummated.
The occasion where a sale is finalized and the title is legally transferred to the Buyer.
The process by which parties to a real estate transaction agree to and conclude the details of a sale / mortgage including the execution of documents relating thereto and the distribution of the appropriate funds. (Back to Terms list)
In real estate transactions, the final set of procedures in which documents are executed and the transaction is finalized.
Handled at a title company or in an attorney's office, this is when buyers and sellers sign all the required papers to transfer ownership.
A meeting to sign the documents that transfer property from a seller to a buyer (also referred to as a settlement).
A meeting or settlement of the finalized sale on a property where documents are signed, and monies exchanged
The consummation of a real estate transaction. The closing includes the delivery of a deed, financial adjustments, the signing of notes, and the disbursement of funds necessary to complete the sale and loan transaction.
(1) Process by which all the parties to a real estate transaction conclude the details of a sale or mortgage. The process includes the signing and transfer of documents and distribution of funds. (2) Condition in description of real property by courses and distances at the boundary lines where the lines meet to include all the tract of land.
the final execution of a sale which is affirmed by the recording of documents pertinent to the sale.
Time when new mortgage and note are signed by parties in title or parties taking title to real property.
Real estate "closing" is a term generally associated with Eastern states. These closings generally involve a meeting with an attorney for the buyer and an attorney for the seller at the title company. In this process, the seller's deed would be surrendered to the title company for recording and the buyer's payment would be transferred to the seller's attorney. In California this cumbersome process is handled by an escrow company.
The time and date set for the transfer of the property from seller to buyer and/or for the signing of the loan documents.
The point at which property and funds legally change hands in a real estate transaction. This usually consists of a meeting involving the seller, buyer, title agent, and lender, and/or their respective agents.
The sequence of actions required to properly transfer ownership of a property. In some states a real estate transaction is not consider "closed" until the documents are recorded at the local recorders office. In other states, the "closing" is a meeting where all of the documents are signed and money changes hands.
A meeting at which a sale of a San Jose home is finalized by the buyer signing the mortgage documents and paying closing costs.
For a purchase transaction, a meeting between the homebuyer, seller, lender and title insurance company in which mortgage documents are signed and title to the property passes from seller to buyer. At the same time, the homebuyer receives the funds needed to purchase the property and pledges the property as security for repayment of the debt. For a refinance transaction, a meeting between the borrower, lender and title insurance company in which mortgage documents are signed and the homeowner pledges the property as security for repayment of a new debt. Sometimes called "Settlement".
or settlement is when the property is formally sold and ownership of the property is transferred to the buyer. The date for the closing is negotiated in the contract to buy the property. Closings are usually a scheduled for few weeks to a couple of months from the time of the offer to give the buyer time to have the property inspected, secure a mortgage and have an attorney review the title and/or deed to the property. The buyer actually accepts the loan from the lender and becomes responsible for paying it back. Usually all outstanding fees -- such as attorney's fees, real estate agents's commission, loan points -- are due at closing.
The final step in the home buying process, which brings the buyer and seller together to exchange money and sign documents pertaining to the sale. Closings can be done by lenders or real estate brokers, but, in the Kalamazoo area, are most commonly done by title insurance companies who act as agents for the lender.
A meeting of the parties to the transaction at which the legal ("closing") documents (e.g. deed, note, mortgage, affidavits) are executed and funds disbursed in accordance with the terms of the sales contract or loan commitment.
The date on which a property legally changes hands from seller to buyer.
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.
The meeting between all parties to the loan or their agents, where the property and mortgage funds change hands.
The time and place at which all documents for your loan are signed, dated and notarized.
A meeting at which a sale of a property is finalized by the buyer signing the mortgage documents and paying closing costs. Also called "settlement."
In a real estate transaction, a meeting in which the deed is delivered to the buyer, payment is made to the seller, title is transferred, and agreed-on costs are paid. Also called "settlement."
The occasion where a purchase or refinance transaction is finalized: where the buyer signs the mortgage, and closing costs are paid.
Last phase of a project where a final assessment of the project is realized.
The act of finalizing a real estate transaction. In Georgia we close at a Closing Attorney's office. This attorney represents the Lender, not the Buyer or Seller, although they will generally be happy to answer any questions you may have.
A meeting held to finalize the sale of a property. The buyer signs the mortgage documents and pays closing costs. Also called "settlement."
The final procedure of a mortgage and/or real estate transaction, documents are signed and property ownership is transferred (if it is a purchase transaction). Also called, "Settlement".
The closing is when the transaction is closed. At that point every contingency in the contract evaporates. The operatic lady sings. There is no going back.
For a home purchase, the time when loan documents are signed, legal title is transferred from the seller to the buyer, and funds are dispersed from the buyer and the lender to the seller. For a refinance, there is no transfer of ownership, but the closing includes repayment in full of all sums owed the old lender.
The final transfer of ownership of the home, is called "close of escrow" or "settlement."
Also referred to as settlement. The process of finalizing the purchase or refinance of a property, including but not limited to, signing papers, disbursing money, and preparing the deed and transfer of ownership.
Conclusion of a real estate sale, at which time title transfers and necessary funds change hands.
The conclusion of the loan transaction, which includes delivery of a deed, financial adjustments, the signing of notes and mortgages, and the disbursements of funds necessary to finalize the sale or loan transaction.
The time when a "deal" is closed or legally completed. For housing co-ops, closing is the time when the co-op legally receives its property and commits for its loans.
The completion of documents that transfer property from a seller to a buyer (also referred to as a settlement). Also used loosely to mean "reaching final agreement."
The specific time and place at which all appropriate documents associated with the equity loan or refinance are signed and notarized as required.
final settlement, including the buyer’s signing of the mortgage and mortgage note, and exchange of title.
A meeting of the parties involved in a real estate transaction to finalize the process. In the case of a purchase, a closing usually involves the seller, the buyer, the real estate broker and the lender. In the case of a refinance, the closing involves the borrower and the lender. Sometimes referred to as the settlement or the close of escrow.
the finalizing of a sale; the buyer signs the mortgage, and closing costs are paid.
A meeting at which the buyer finalizes a sale of a property signing the mortgage documents and paying closing costs.
The date the purchaser and vendor agree to complete the transfer of title.
The meeting between the buyer, seller and lender or their agents where the property and funds legally change hands. Also called settlement. Closing costs usually include an origination fee, discount points, appraisal fee, title search and insurance, survey, taxes, deed recording fee, credit report charge and other costs assessed at settlement. The cost of closing usually are about 3 percent to 6 percent of the mortgage amount.
The transfer of ownership of a property from the seller to the buyer according to the sales contract.
The time when loan documents are signed and closing costs are paid to finalize the loan.
The time when money is exchanged for assignment of the ownership of a life insurance policy, similar to "closing" of escrow on real estate; transfer of ownership
Also referred to as settlement. The process of finalizing all dealings in the purchase of a property, including signing of papers, disbursement of money, preparation of deed, and transfer of ownership.
also known as settlement, this is the time at which the property is formally sold and transferred from the seller to the buyer; it is at this time that the borrower takes on the loan obligation, pays all closing costs, and receives title from the seller.
The final step in transferring ownership of a property from seller to buyer.
The final transaction in a real estate purchase. Includes the delivery of a deed, financial adjustments, signing of notes, putting funds in escrow for payment of taxes and insurance, etc.
In real estate, Closing is the delivery of a deed, the payment of the purchase price, the signing of promissory notes, and the paying of closing costs, which completes a real estate transaction.
The final accounting of the real estate sale. The closing Statement outlines the costs on both the buyers and the sellers side of the transaction.
The actual process whereby all parties to a real estate transaction conclude the details of a sale or mortgage. This process includes the signing and transfer of documents and the distribution of funds.
When the real estate transaction between buyer and seller is completed. The buyer signs the mortgage documents and the closing costs are paid. Also known as the settlement date.
The process by which all the parties to a real estate transaction conclude the details of a sale or mortgage. The process includes the signing and transfer of documents and distribution of funds. The closing is conducted by a Settlement agent responsible to collect and compile all necessary documents, prepare the Settlement statement and disburse the money. The Settlement agent records the deed, deed of trust/mortgage at the local courthouse.
The same as Close of Escrow or COE. The final procedure in a real estate transaction. This is the day the new owner can take possession of the house and actually owns it.
THE DATE WHEN THE OFFER OF PURCHASE AND SALE AGREEMENT BECOMES FINAL AND THE SALE IS COMPLETE. THE MORTGAGE IS REGISTERED ON THIS DAY AND THE MORTGAGE LOAN IS ADVANCED. THE OWNERSHIP OF THE PROPERTY IS CHANGED FROM ONE PERSON (VENDOR/SELLER) TO ANOTHER (PURCHASER/ BORROWER).
"This has different meanings in different states. In some states a real estate transaction is not consider ""closed"" until the documents record at the local recorders office. In others, the ""closing"" is a meeting where all of the documents are signed and money changes hands."
Also called "Settlement" or "Close of Escrow" - The process of signing the final loan documents (note, mortgage, settlement statements, deed, etc.), recording of legal paperwork at the county court house, and disbursement of loan funds for benefit of the borrower. At closing, the settlement agent (often an attorney or title insurance company) collects funds from the buyer and/or the lender, pays the expenses of the transaction (appraisal fees, Realtor's commission, document recording fees, etc.) and pays the seller for the net proceeds of the sale.
The fun part for a new purchase: Where buyer and seller sign a pile of papers and shake hands. Then you can breathe a big sigh of relief. The fun part for a refinance: Where the owner signs another pile of papers and may walk away with money in their pocket and/or a lower rate and a smile on their face.
The meeting (usually in the presence of an attorney) where the transfer of the title of the property takes place from the seller to the buyer.
A closing usually consists of a meeting between, or among the parties to the contract of sale such as the buyer and seller (all pertinent parties involved such as the attorneys, realtors, and representatives from the title company). When all negotiations have been finalized and the terms of the contract have been complied with, the seller signs and delivers the deed to the buyer. The buyer then in turn authorizes the payment of proceeds of the sale to the seller, mortgage company, taxing authority and any other applicable liens.
In the sale of real estate it is the final moment when all documents are executed and recorded and the sale is complete. Also a general selling term where a sales person is attempting to sell something and the buyer agrees to purchase
The final step of the sale transaction in which the title to, or ownership of, real estate is transferred from the owner to the buyer.
Also called settlement. Closing is the conclusion of a real estate transaction. Documents that transfer legal ownership of the property are signed and closing costs are paid at this time.
The time in a real estate transaction when all documents have been executed and the funds have been deposited with Escrow so the documents may be recorded or distributed, and the funds disbursed.
This is the meeting at which the loan is made to the buyer, the buyer pays the purchase price to the seller, and the seller transfers title to the house to the buyer. The closing is usually held at the office of the closing attorney, and is attended by the buyer, the seller, and the closing attorney. The buyer's and seller's real estate agents, and the buyer's mortgage broker may also attend.
The meeting at which the sale of a property is completed. The buyer signs the lender agreement for the mortgage and pays closing costs and escrow amounts. The buyer and seller sign documents to transfer ownership of the property. Also known as the settlement.
Process by which all the parties to a real estate transaction conclude the details of a sale or mortgage. The process includes the signing of documents, transfer and distribution of funds. I attend all of my client’s signings.
Also called the Settlement. The consummation of a real estate transaction in which all the documents are executed and the sale is completed.
A meeting between a lender and borrower or a buyer, seller and lender or their agents when the loan documents are signed and the funds legally change hands. Also known as a settlement.
The meeting during which the title to property actually changes hands, documents are executed and the sale of the property and/or the loan is completed. It is usually attended by the buyer, the seller, a bank representative, each party's attorney and the title company representative.
A meeting comprised of the lender, buyer and seller to legally exchange the property and funds (see Closing Costs.)
The final method in which documents are signed and recorded, and the sale is completed.
The process that brings a loan into legal existence, including the signing of all loan documents, their delivery to the appropriate parties, and the disbursing of at least some of the loan funds.
The final step in the home equity process after a line of credit or loan is approved. The closing is a meeting between all parties involved in the transaction during which required legal documents are signed.(Also known as settlement)
the meeting between the buyer, seller and lender or their agents where the property and funds and real property change hands, and a new deed is made ready for recording.
The final act of a real estate purchase when the sale and/or loan documents are completed.
Although this has different meanings in different states, it's basically when all is said and done. In some states a real estate transaction is not consider "closed" until the documents are recorded at the local recorder's office. In others, the "closing" is a meeting between the parties where the documents are signed and the money changes hands. In any case, it's the end of the road.
The meeting between the buyer, seller and lender in which the property and funds legally change hands. Also called "Settlement."
The point at which the buyer signs the mortgage documents, pays closing costs, and becomes the owner of the property. Also called a settlement.
The final procedure in which loan and title documents are signed between the buyer and seller and their respective representation.
(Also called “Settlement.”) The completion of a real estate transfer, where the title passes from seller to buyer, or a mortgage lien is given by the borrower to secure debt undertaken by the buyer to purchase the home.
The meeting between the buyer, seller and lender (or their agents) where the property and funds legally change hands. Also referred to as "settlement".
The property is formally sold and the title is transferred to the buyer; who is responsible for the loan obligation.
The culmination of any transaction in which the interested parties (or their representatives) meet to exchange documents, funds, and property and, if necessary, to register the transfer of title.
Legal procedure to transfer property and/or finalize mortgage transaction.
A meeting between the buyer, seller, and lender where the property and funds legally change hands. Called a Settlement in some states.
When all the details of the business sale are completed and the money distributed to the seller, seller's agents, creditors and others.
The passing of a deed or mortgage, signifying the end of a sale or mortgage of real property. Also known in some areas as "passing papers" or "closing of escrow."
The ending of a real estate transaction resulting in title and fund conveyance.
The day when buyers and sellers actually swap money for title to the Real Estate. The closing finalizes the agreements reached in the sales agreement.
Also called settlement. The signing of documents and payments of funds to legally transfer house and its property from the buyer to the seller.
The meeting to sign documents that transfer title to the property and possession from the Seller to the Buyer
Meeting between the buyer, seller and lender escrow officer where the property and funds legally change hands. Also called settlement.
Also known as settlement, the finalization of the process of purchasing or refinancing real estate. The closing includes the delivery of a Deed, the signing of Notes and the disbursement of funds.
The conclusion of your real estate transaction which includes the delivery of the security instrument (Deed), signing of your legal documents and the disbursement of funds to the seller (in a purchase transaction) or to the current mortgage holder (in a refinance transaction).
The finalization of a real estate purchase, where all final paperwork has been executed by the buyer, seller, lender, and title company and the mortgage loan has funded and documents sent to record the transfer of title and release existing liens.
The process in which a borrower signs required documents to obtain a mortgage loan.
The process by which ownership of a property passes from the seller to the buyer. Also known as "settlement," closing includes the delivery of a title (or deed), financial adjustments, the signing of notes, and the disbursements of funds to complete the sale.
Last steps of a real estate transaction including transfer of funds and deed delivery.
Changing ownership of land from the current owner to the buyer.
The meeting at which a sale of a property is finalized by the buyer signing the mortgage documents and paying closing cost. Also known as "settlement."
A real estate transaction during which a seller transfers the ownership of a property to a buyer.
The final step in the sale and purchase of a property, when the title is transferred from the seller to the buyer and money due to the seller is handed over.
After the due diligence is done, and the VC finally decides to invest in the company, there is a legal closing of the deal. Involving lawyers and large contracts, the process can take one to four weeks.
The end of the real estate transaction. It comes when all requirements of the parties are met, funds transfer and the Deed is recorded transferring title.
The meeting where the deed to property (ownership) is legally transferred from the seller to the buyer.
When the deal is finalized and the title to the property is transferred to the buyer.
Is the act of transferring ownership of a property from the seller to the buyer. Usually the last step in buying a property. Documents are signed, the balance of the loan costs are calculated, funds are disbursed and the transaction is completed.
In real estate, the delivery of a deed, financial adjustments, the signing of notes, and the disbursement of funds necessary to consummate a sale or loan transaction.
The meeting where the deed to the property is legally transferred from seller to buyer. Also known as settlement.
Also referred to as settlement. The meeting at the conclusion of a real estate sale in which the property and funds are exchanged between the two parties involved.
The act of transferring ownership of a property from seller to buyer. Closing may also refer to the date on which this transfer takes place.
The day when all of the home equity documents for the memberâ€(tm)s loan are signed, dated and notarized. Note: After the 3 day Right to Rescind period and the recording of the mortgage note are complete, then we can disburse the loan proceeds to the member.
The final exchange of consideration and legal completion of a transaction, involving either a house purchase, a mortgage registration, or both.
The act of giving a propertyâ€(tm)s title to the buyer in exchange for payment.
In real estate, it includes the delivery of a Deed, Mortgage, financial adjustments, the signing of documents, and the disbursement of funds necessary to the sale or loan transaction.
A set time for the borrower to sign mortgage documents for a purchase or refinance transaction. Also called "settlement". At the closing for the purchase of a property, the closing includes the buyer and seller signing the documents needed to transfer legal ownership of the property. For a purchase, most buyers have an attorney present, as the deal is final after the papers are signed. For a refinance, an attorney can be present if desired, however the borrower has 3 days to review the paperwork on the refinance of their primary residence before the deal is final.
A closing (sometimes called a settlement), is the last stage of a real estate transaction. At the closing, the buyer finalizes his or her mortgage and pays any closing costs he or she is responsible for, while the seller finalizes and hands over the deed and the keys to the property.
The finalization of a real estate transaction which generally takes place when a mortgage loan has funded and the new deed is recorded.
The conclusion of a financing round whereby all necessary legal documents are signed and capital has been transferred.
The final meeting where the sale and transfer of property and/or loan settlement is fully executed. This meeting generally requires the borrower(s), seller(s), lender (or their agent) to be present. The closing includes the delivery of a deed, signing of notes, and the collection and disbursement of funds necessary to complete the sale and loan transaction. Also known as Settlement.
The final stage of a transaction, when a seller delivers the title to the buyer in exchange for the purchase price.
The final procedure in a real estate transaction; when documents are executed and/or recorded, title is transferred from seller to buyer, funds are disbursed, and the sale is completed.
The final step after a lender approves an application. The homebuyer and lender sign the security-agreement note for the mortgage loan, which states all the terms and conditions of the loan and the funds for the loan are turned over to the homebuyer's closing agent.
Actions and procedures required to effect the successful conclusion of a business transaction, such as a real estate purchase or loan consummation.
The event at which the lending institution finalizes the loan and executes all legal documentation. In the case of home equity loans, the borrower then goes through federally-mandated 3-day 'right of rescission' period, during which they may opt to cancel the loan. Actual funding of a home equity loan/line is done upon expiration of the 3-day rescission period.
The final step in the purchase of property, during which the buyer and seller sign the sale agreement. The buyer signs the loan agreement and pays the cost of closing. May include title search, points, transfer taxes and various other fees.
A meeting where the sale of a property is finalized by the buyers and sellers signing certain documents to transfer the title of the property and paying closing costs. Also known as the Closing Day or Settlement.
a meeting where documents are signed to "close the deal" on a mortgage; the time a mortgage begins.
The Finalization of a mortgage or loan.
A meeting at which the sale of a property is finalized when the buyer signs the mortgage documents and pays the closing costs. Also called "settlement".
The final event to complete the investment, at which time all the legal documents are signed and the funds are transferred.
Can also be called settlement or closing escrow. Completes the real estate purchase transaction and is usually handled by an attorney or representative such as a title company.
A meeting at which the buyer signs the mortgage documents and pays closing costs. Also called "settlement." In Nevada the deal is considered "closed" when the deed has been recorded at the Clark County Recorder's office.
The day when sellers and buyers finalize the agreements made in the purchase agreement, including signing documents, settling financial details, and transferring the title of a home to new owners.
(Sometimes referred to as Settlement.) The process of formally and finally exchanging all monies and documents as a result of terms defined in an agreement of sale.
The closing is the conclusion of your real estate transaction and includes a meeting between the buyer, seller and lender or their agents at which property and funds legally change hands.
The meeting between the seller and buyer when the property legally changes hands.
Point of a real estate transaction when the seller transfers title (ownership) to the buyer in exchange for the purchase price.
costs Costs associated with the purchase of a home that must be paid at the sale closing. These could include mortgage fees, title insurance, appraisal and inspection fees and points.
A meeting between the buyer, the seller, and the lender (or their agents), at which the property and funds legally change hands. This is also called "settlement."
The legal procedure in which the transfer of property becomes final. Also called settlement.
A meeting to sign documents which transfer property from a seller to a buyer. (Also called settlement)
A real estate transaction in which property changes hands. Generally, there is an exchange of money for the title to the land. An essential part of the closing is the registration of the title in the new owner's name.
is the finial act in which the lender transfers funds to the seller in exchange to the property's title. At this point the loan process is done and the property is bought by the borrower.
The time at which loan documents and funds are signed and delivered to finalize the funding of a loan. Sometimes called a settlement.
in real estate, the signing of loan documents and paying of closing costs (attorneys' fees, title insurance premium, appraisal and inspection fees, survey cost, mortgage origination fees and points) and the delivery of the deed to the buyer.
Also called "settlement," the buyer of a home signs the mortgage documents and pays closing costs to finalize the sale of the property.
The meeting at which the buyer signing the mortgage documents and paying closing cost finalizes a sale of a property. Also known as "settlement".
In real estate, the final procedure in which documents are executed and/or recorded and the sale (or loan) is completed. Also called "settlement".
(1)- In real estate sales, the final procedure in which documents are executed and/or recorded, and the sale (or loan) is completed. (2) A selling term meaning the point at which the client or customer is asked to agree to the sale or purchase and sign the contract. (3) The final call in a metes and bound legal description which "closes" the boundaries of the property.
The meeting (usually in a lawyer's office) to sign documents to transfer the property title from the seller to the buyer. Same as Completion.
The "closing" is the period that marks that a loan transaction is final.
(Completion) The final settlement between the buyer and the seller. The date on which title passes to the buyer and the deeds are transferred.
The final procedure in the real estate sales process, where the sale and pertinent loan are completed by the execution of documents for recording. In some areas, this procedure is known as the closing of escrow.
The day the legal title to the property changes hands.
The final meeting at which the transfer of title of property passes from the seller to the buyer.
The consummation of a real estate transaction. The closing includes the delivery of a Deed, the execution of all the documents and disbursement of funds necessary to complete the sale and loan transaction. Also called "settlement".
The meeting (usually in a lawyer's office) where the title of property passes from the seller to the buyer.
The conclusion of a transaction. In real estate, the closing can include the delivery of a deed, payment of the purchase price and expenses associated with the transaction, the signing of any documents such as notes and mortgages, and the disbursement of funds necessary to the sale or loan transaction.
meeting between the buyer, seller and lender, (or their agents) and the lawyer or title company, where the property and funds legally change hands. Also called settlement.
The occasion when a borrower signs loan documents, including the mortgage or deed of trust, and when closing costs are paid. Also called "settlement."
The condition of a transaction. In real estate, closing includes the delivery of a deed, financial adjustments, the signing of notes and disbursement of funds necessary to the sale or loan transaction.
A meeting at which the buyer signing the mortgage documents and paying closing costs finalizes a sale of property. Also called a "Settlement".
The final procedure in which documents are executed and/or recorded, and the sale (or loan) is completed. Closing Statement: The statement which lists the financial settlement between buyer and seller, and also the costs each must pay.
In real estate, closing is the conclusion of the sale transaction and includes the delivery of the deed, financial adjustments, the signing of notes and other loan documents, and the disbursement of funds necessary for the sale or loan transaction.
the formal meeting, usually conducted by a title insurance company or agent, where the purchase price is paid and the signed deed is delivered to the buyer to be recorded. Legal title is transferred at closing and the transaction is "closed." Also sometimes referred to as the "settlement."
The final procedure in which documents are signed and recorded, and the property is transferred.
The process of finalizing the purchase of insurance or other financial products, by having the purchaser read and sign the final documents as well as any other legal details.
The final act in a real estate transaction, in which all financing is distributed to the parties and rights to the property change from seller to buyer.
The conclusion of a sales transaction when the seller transfers title to the buyer in exchange for consideration.
The end of the transaction; when the seller hands over the title to the buyer in exchange for payment.
the property is legally transferred from the seller to the buyer; same as Settlement
Ending settlement of a real estate transaction between the buyer and seller.
Final arrangements to transfer title of property as well as allocate charges and credits.
This is the final meeting, at which the property is officially purchased, paid for, and signed over. A closing may take place at a lawyer's office, or at the bank, or at the title insurer's office.
Also called a settlement, it's the meeting at which sale of a property is finalized with the buyer signing the mortgage documents and paying closing costs.
Also referred to as settlement. The delivery of a deed, the signing of a note, and the disbursement of funds necessary to consummate a sale or loan transaction.
The day when buyers and sellers sign the documents and exchange money for the title to the home. The agreements made in the sales agreement are finalized at closing.
also known as settlement. The meeting at which the sale of a property is finalized, closing costs and escrow amounts are paid, and the buyer and seller sign documents to transfer ownership of the property.
The conclusion or consummation of a real estate transaction. This includes the delivery of deed financial adjustments, the signing of notes and the disbursement of funds necessary to the sale or loan transaction.
(1) In real estate sales, the final procedure in which documents are executed and/or recorded, and the sale between buyer and seller, or when a loan refinancing is completed. (2) The final call in a metes and bounds legal description which "closes" the boundaries of the described property.
A closing is the meeting between the buyer, seller and lender, and their agents, where the property and funds legally change hands. Also called "settlement". Closing costs usually include such fees and charges as an origination fee, discount points, appraisal fee, title search, insurance, survey, taxes, deed recording fee, credit report charge, and other costs assessed at settlement. Actual closing costs vary by state.
The act of completing the registration of the Land Transfer to the Purchaser in the Land Title Office, obtaining Mortgage Funds, if any, and Paying out the Balance of Sale Proceeds to the Vendor.
The meeting where the buyers, sellers, and their representatives meet to finalize the legal exchange of property.
The process that affects the final transfer of the deed from the seller to the buyer, as well as finalizing all aspects of a mortgage of the property.
Actual moment when the property and the funds are legally exchanged
The meeting between the buyer, seller, and the agents to finalize a home sale. This is where the documents are signed, and money is exchanged.
The process of completing a real estate transaction. During this settlement process deeds, mortgages, leases, or other required instruments are executed by all required parties. In addition to the execution of documents, the accounting between parties is made, funds are disbursed and recording of all pertinent documents prepared.
Process by which all fees and documents required by a lender prior to disbursing loan proceeds are executed and filed. Usually used in reference to the completion of a real estate transaction that transfers rights of ownership in exchange for monetary considerations.
The final arrangements for transferring ownership of property.
The last step in a home sale at which time documents are signed and recorded anf property ownership is transferred.
In the sale of real estate it is the final moment when all documents are executed and recorded and the sale is complete. Can have different meanings in different states.
The completion of the real estate transaction between buyer and seller. The buyer signs the mortgage documents and the closing costs are paid. Also known as the settlement date.
The settlement or closing is the conclusion of your real estate transaction. It includes the delivery of your security instrument, signing of your legal documents and the disbursement of the funds necessary to the sale of your home or loan transaction (refinance).
An investment event occurring after the required legal documents are implemented between the investor and a company and after the capital is transferred in exchange for company ownership or debt obligation.
The completion of the buyer and seller transaction including all documentation.
A meeting of all parties involved in a real estate transaction where title to a property is formally transferred.
The final settlement at which time the title is transferred from seller to buyer, accounts are settled, new mortgages are signed, and all fees and expenses are dispersed or satisfied.
The point at which real estate formally changes ownership. Closing costs are fees paid for services associated with a home's closing such as title insurance, surveying fees, recording fees, deeds, and affidavits.
the conclusion of a transaction. Includes the disbursement of funds necessary to the sale or loan transaction, the “Closing Statement” which gives an accounting of all funds received (including escrow deposits, taxes, hazard insurance, mortgage insurance) delivery of a deed, etc.
The legal transfer of the deed to a property from the seller to the buyer signifying the change in ownership.
The point at which the mortgage is signed and executed, also known as completion.
In regard to real estate sales, this is the final procedure in which documents are executed and recorded along with funds being disbursed to the appropriate parties causing the sale and/or loan to be complete.
A meeting between a lender and borrower where documents are signed, and the tranfer of ownership and funds is accomplished.
Also known as Settlement, this is the time at which the property is formally sold and transferred from the seller to the buyer. (last updated 03/19/2004)
The point at which settlement between the buyer and the seller is executed, and the new loan (mortgage) begins.
a meeting between seller, buyer and lender, or their agents, during which the funds and property change hands.
The real estate transaction's completion, when the parties involved agree that all legal and financial obligations have been met and the deed to the property is transferred from the seller to the buyer.
In a real estate transaction, this is the final exchange in which the deed is delivered to the buyer, the title is transferred, and the agreed-on costs are paid.
The day that buyers and sellers actually transfer title of the property in exchange for money. The closing finalizes the sales agreement reached. Closing Costs: The sum of all the costs incurred during the purchase of the home excluding the down payment.
The time when loan and mortgage documents are formally signed and the loan transaction is completed. Sometimes called "Settlement."
The document used for CLOSING A RISK.
The formality of finalizing a transaction, either the transferring or financing of a property. The final step of a property sale transaction, in which the legal ("closing") documents (e.g., deed, note, mortgage, and affidavits) are executed and funds disbursed in accordance with the terms of the contract or loan commitment.
The final settlement of real estate transaction between buyer and seller.
also known as settlement, this is the time at which the property is formally sold and title transferred from the seller to the buyer; it is at this time that the buyer takes on the loan obligation and pays all closing costs if the property is being financed by a mortgage.
Closing Cost Cloud on Title
A meeting with the buyer & seller (with lender or title company representatives) to sign all legal documents related to a property sale. Title of the property is transferred when the deed from the closing is recorded at the government registry of deeds.
The process of completing a real estate transaction during which the seller delivers title to the buyer in exchange for payment of the purchase price. Called a "settlement" in some areas.
A meeting at which the sale of a property is finalized by the purchaser signing the loan documents and paying closing fees. Sometimes also referred to as the settlement.
The transfer of ownership of a property from the seller to the buyer under the terms of a sales contract. The term closing usually refers to the meeting at which all parties involved in the sale of a property are represented and at which documents are signed and/or recorded to finalize the agreement.
The finalization between the buyer, seller and lender where the sale of real property legally changes hands.
A meeting at which a purchase or refinance of a property is finalized by signing the mortgage documents and paying closing costs. Also called "settlement."
Final settlement between the buyer and seller, the date on which title passes from the seller to the buyer.
When all parties to a real estate transaction have performed all the details of sale, including signing, transferring of documents, and distribution of funds, the transaction is closed.
The instance where all documents have been signed and paperwork is completed. In Utah, this happens before "recording" and "funding." Buyers typically don't take official ownership of a property until after the funds have cleared; usually the day after closing.
A meeting at which all documents are signed and all expenses are paid to transfer ownership of property. Also called "settlement."
The process of transferring real estate from a seller to a buyer.
A meeting to sign documents that transfer ownership of a property from seller to buyer.
A meeting to consummate a real estate transaction. It includes delivery of the deed, signing of forms and disbursement of funds (also referred to as a settlement).
A term sometimes used instead of completion – the point at which the mortgage contract is signed and executed.
The sale of a property is consummated with the buyer completing all applicable documentation, including signing the mortgage obligation and paying all appropriate costs associated with the sale
(known in Britain as Completion) In property transactions, the delivery of a deed, the payment of the purchase price, the signing of notes, and the paying of closing costs, which completes the transaction.
(1) In insurance sales, the part of an insurance sales presentation that occurs when an agent secures a purchase commitment from a prospect by asking for and obtaining the prospect's agreement to submit an application for the coverage recommended in the proposal. (2) Generally, a conclusion of a transaction, usually accomplished by satisfaction of all conditions stated in a purchase contract.
The process of finalizing the sale of property that includes the transfer of title from the seller to the buyer. Also called settlement.
Legal procedure in which property ownership is transferred.
The process of finalizing the purchase of property or making of a mortgage loan. At the closing of a purchase money loan, the deed is delivered, the mortgage and note are signed, financial adjustments are made, and loan proceeds are disbursed. For refinances and home equity lines and loans, funds are disbursed after the 3 business day rescission period has expired. For home equity lines of credit, checks are generally sent to the borrower 7 to 10 business days after closing.
final step in the purchase or refinance of a property, in which documents are signed and recorded and the property is transferred to the new owner.
Procedure for signing a mortgage, bonded issue or syndicated loan
The culmination of a real estate transaction in which documents are signed and recorded, funds are exchanged and the property is transferred. back
Completion of the sale, where the buyer signs the mortgage. Also called a settlement.
Conducted by a title company or an attorney, the conclusion of the sales transaction when the seller transfers title to the buyer.
The process that effects the final transfer of the deed from the seller to the buyer, as well as finalize all aspects of the mortgage of the property.
Closing (or settlement as it known in some parts of the US) is the final step in executing a real estate transaction.
Closing is a sales term which refers to the process of making a sale. The sales sense springs from real estate, where closing is the final step of a transaction. In sales, it is used more generally to the achieving the desired outcome, which may be an exchange of money or acquiring a signature.