In real estate terminology, what does 'Closing' indicate?

In real estate terminology, "Closing" specifically refers to the finalization of the transaction where the deed is transferred from the seller to the buyer. This is a crucial point in the property transaction process, as it signifies that all conditions of the sale have been met, and official ownership of the property is being transferred. At closing, a variety of important documents are signed, and financial transactions occur, including the payment of the purchase price, settling of closing costs, and the transfer of funds from the buyer's lender if applicable. The closing process also typically involves the recording of the deed in public records, which is essential for establishing the buyer's legal ownership of the property.

The other options relate to different aspects of real estate transactions but do not accurately define "closing." Negotiating the sale price is part of the initial negotiation phase, preparing the property for sale occurs prior to listing and attracting buyers, and the initial signing of the Offer/Purchase Agreement is an earlier step that lays the groundwork for the transaction, leading up to the closing but is not representative of it.