What typically happens during a closing process in real estate?

During the closing process in real estate, the primary focus is on finalizing the transaction between the buyer and seller. The crucial step in this process involves the signing of final documents, which are essential for legally transferring ownership of the property from the seller to the buyer. This transfer solidifies the deal and allows the buyer to officially take possession of the property.

The closing process also typically includes the payment of closing costs, any agreed-upon repairs or concessions, and the disbursement of funds to the seller. It's a critical stage where all parties confirm their understanding of the terms laid out in the purchase agreement and ensure that all legal requirements are met.

The other options, while they may be part of the broader context of a real estate transaction, do not encapsulate the central action of the closing process as effectively. For example, reviewing the property history or presenting property evaluations happen earlier in the transaction process, not at closing. Additionally, initiating a new mortgage can occur prior to closing but is not necessarily a defining feature of the closing itself.