If this is your first time buying property, you’ll want to know ‘what is a real estate closing?’
It’s more complicated than you think.
The closing is the real estate term for the final step in the home-buying or selling transaction. Buyers finalize ownership of the property and receive the keys. Sellers receive the proceeds.
In Florida, a real estate closing can take up to 43 days on average, and closing costs in 2025 so far average 3.25% of the property’s price, according to the experts.
The prospective buyer has to shop for a mortgage and compare rates, but that’s just the beginning. Most lenders require property insurance to proceed. Lang Realty agents are experts in helping buyers hire an appraiser, property inspector and title company to do a “title search.” That ensures there are no other claims on ownership. Agents also negotiate other issues, such as repair costs and add-ins such as appliances and fixtures. In Florida, that often includes ceiling fans and furnishings.
What to expect on closing day as a buyer?
There’s tons of paperwork and signatures required to seal the deal at the closing. The buyer, the real estate agent, the seller, closing agent, the lender’s representative and attorney usually attend a closing.
What to expect at closing when selling a house?
Sellers often offer to pay for repair or cover part of the buyer’s closing costs. That sum will be paid at closing. Who pays for what on closing day can vary from county to county in Florida. Trust your Lang Realty agent to know the territory and advise you accordingly.
