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The closing

The closing (also commonly known as "settlement") is the final step when selling a home. This is where money and keys are exchanged. During this stage, many documents are signed by both the seller and the buyer. In fact, the buyer has to do much more to prepare for closing than the seller (see our Buyer's Guide: Closing section for more valuable information on closing from a buyer's perspective). Once the closing is over the buyer is now the new owner. The seller usually will need to move prior to this, unless there is another agreement between seller and buyer.
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