What does the buyer receive at a real estate closing?

At a real estate closing, the buyer receives ownership of the property. This moment is significant as it marks the formal transfer of title from the seller to the buyer. During the closing process, all necessary documents are executed, including the deed, which is the legal instrument that conveys ownership. Once the deed is recorded, the buyer's ownership rights are legally recognized, enabling them to take possession of the property.

The other options—inspection reports, a loan agreement, and tax assessments—may indeed be important documents in the real estate transaction process but are not what the buyer receives at the closing itself. Inspection reports are generally provided prior to closing to inform the buyer about the property's condition, a loan agreement relates to the financing of the purchase rather than the transfer of property ownership, and tax assessments pertain to the property's taxation but do not indicate ownership. Thus, the correct answer highlights the primary purpose of the closing: to finalize the transfer of ownership.