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Real Estate vocabulary · Buying & Selling

Closing

Meaning in real estate, with examples

/ˈkloʊzɪŋ/nounCore term

In real estate, closing means: The final stage of a property sale, when the remaining money is paid, the documents are signed and ownership passes from the seller to the buyer.

In Turkish: tapu devri, satışın tamamlanması, devir işlemi

How it is used

American English. Buyers and sellers sign on the closing date, often at a title company or a lawyer's office, and receive a closing statement listing every cost. British English calls the same stage completion.

Example sentences

  1. Closing is set for June 15, so the movers are booked for the 16th.

  2. Please bring your ID and a cashier's check to the closing.

Common collocations

  • closing date
  • closing costs
  • closing statement
  • close on a house
  • at closing
  • closing costsThe fees and charges paid when a property sale is completed, on top of the price, such as lender fees, title insurance, taxes and legal costs.
  • escrowAn arrangement in which a neutral third party holds money or documents until all the conditions of a deal are met, then releases them to the right person.
  • deedA signed legal document that transfers ownership of a property from one person to another or proves who owns it.
  • conveyancingThe legal work involved in transferring ownership of a property from seller to buyer, from checking the title to registering the new owner.
  • purchase agreementA written contract between buyer and seller that sets out the price, conditions and dates of a property sale before ownership is transferred.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Buying & Selling

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