What is the main purpose of a real estate closing?

The primary purpose of a real estate closing is to finalize the sale and facilitate the transfer of ownership from the seller to the buyer. This process involves all parties coming together to sign the necessary legal documents that confirm the transaction, including the deed, which formally conveys title to the property. During closing, various financial and legal documents are reviewed and executed, ensuring that all obligations of the sale are met, including the payment of any closing costs and the arrangement of financing if applicable.

While obtaining financing for the buyer, increasing property value, and listing the property on the market are important aspects of real estate transactions, they do not encompass the primary function of a closing. The closing is specifically the culmination of the sale process, focused on the legal transfer of the property and securing the interests of both the buyer and seller.