Closing is a crucial step in any real estate transaction as it marks the transfer of ownership from the seller to the buyer. It usually takes place in the presence of a closing agent or a title company who ensures that all the necessary legal documents are signed and the necessary payments are made. During closing, the buyer is required to pay for the property, while the seller hands over the keys and any other necessary documents to the buyer. It is important for both parties to carefully review and understand all the documents before signing them to avoid any future legal issues. Once the closing is complete, the buyer can move into their new property and the seller can move on to their next venture.