Closing (or settlement) is the final step in executing a real estate transaction. The closing date is set during the negotiation phase, and is usually several weeks after the offer is formally accepted. On the closing date, the parties consummate the purchase contract, and ownership of the property is transferred to the buyer. In most jurisdictions ownership is officially transferred when a deed from the seller is delivered to the buyer.
In recent times, online estate agents have grown in popularity, especially in the United Kingdom. A major reason for this…
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