Closing

Glossaries

Term	Definition
Closing	This term has different meanings in different states. In some states a real estate transaction is not consider "closed" until the documents are recorded at the local recorders office. In others, the "closing" is a meeting where all of the documents are signed and money changes hands. In most states, both definitions apply when a transaction for the sale and purchase of real estate is deemed as "closed".

Term

Definition

This term has different meanings in different states. In some states a real estate transaction is not consider "closed" until the documents are recorded at the local recorders office. In others, the "closing" is a meeting where all of the documents are signed and money changes hands. In most states, both definitions apply when a transaction for the sale and purchase of real estate is deemed as "closed".