What Is Closing?

Closing across 2 exams

Closing appears on the following exams. Each defines it in the context candidates are tested on:

NC Broker

The final step in a real estate transaction where the deed is transferred from the seller to the buyer, funds are exchanged, and documents are signed. A closing attorney or escrow agent typically oversees this process in North Carolina.

FL Broker

The final step in a real estate transaction where title to the property transfers from the seller to the buyer, funds are exchanged, and all closing documents are signed. Closing may occur at a closing agent's office or attorney's office depending on the parties' agreement.