Legal Definitions - house closing

A house closing is the last step in buying or selling a house. It's when the ownership of the house is officially transferred from the seller to the buyer. This happens after both parties have met all the terms of their agreement and the deed has been recorded.

After months of searching, John found his dream home. He made an offer, and the seller accepted it. They both signed a contract that outlined the terms of the sale. John had to get a mortgage, and the seller had to make some repairs. Once everything was done, they scheduled a house closing. At the closing, John paid the seller, and the seller gave John the keys to the house. The ownership of the house was officially transferred to John.

Another example could be:

Mary decided to sell her house. She found a buyer who made an offer, and she accepted it. They signed a contract that outlined the terms of the sale. The buyer had to get a mortgage, and Mary had to move out. Once everything was done, they scheduled a house closing. At the closing, the buyer paid Mary, and Mary gave the buyer the keys to the house. The ownership of the house was officially transferred to the buyer.

These examples illustrate the definition of house closing because they show the final step in a real estatetransaction. The ownership of the house is officially transferred from the seller to the buyer, and both parties have met all the terms of their agreement. The deed is recorded, and the transaction is complete.