What is involved in the real estate settlement process?

The real estate settlement process encompasses the completion of the transaction, which includes the transfer of ownership from the seller to the buyer. This stage is critical as it is the culmination of various pre-contract negotiations, property evaluations, and financial arrangements. During settlement, all necessary documents are signed, funds are exchanged, and the title of the property is legally transferred.

This process ensures that all parties involved fulfill their contractual obligations, which may include the payment of closing costs, addressing any liens on the property, and finalizing mortgage agreements. By completing these actions, the parties secure their interests in the property, making it crucial to the overall real estate transaction.

Other options, such as signing the contract or negotiating the sale price, are parts of the overall process but do not capture the full scope of what settlement entails. The legal examination of the property for defects is typically part of the due diligence process prior to settlement and does not occur during the actual settlement itself.