The closing is the culmination of a real estate transaction where the legal transfer of ownership of the property from the seller to the buyer occurs. It involves several essential procedures and the signing of various documents. Here's an overview of the closing procedures:

1. **Preparation of Closing Documents**: Before the closing date, the closing agent or escrow officer prepares all the necessary documents required to complete the transaction. These documents typically include the settlement statement (HUD-1 or Closing Disclosure), the deed transferring ownership, loan documents (if applicable), and any additional legal paperwork required by state or local regulations.

2. **Final Walkthrough**: Before the closing, the buyer typically conducts a final walkthrough of the property to ensure that it is in the agreed-upon condition and that any repairs or agreed-upon improvements have been completed satisfactorily. This allows the buyer to verify that the property meets their expectations before finalizing the purchase.

3. **Signing of Documents**: On the scheduled closing date, the buyer, seller, and any other necessary parties (such as real estate agents, attorneys, and lenders) gather to sign the closing documents. The closing agent or escrow officer oversees the signing process and ensures that all parties sign the necessary paperwork accurately and according to legal requirements.

4. **Payment of Closing Costs**: At the closing, the buyer is responsible for paying the closing costs, which may include fees for the loan origination, appraisal, title search, title insurance, recording fees, and other charges associated with the transaction. The buyer may also pay the down payment and any prepaid expenses such as property taxes and homeowners insurance.

5. **Transfer of Funds**: Once all documents are signed and closing costs are paid, the closing agent or escrow officer facilitates the transfer of funds from the buyer to the seller. This typically includes the purchase price minus any earnest money deposit previously paid by the buyer. The funds are disbursed according to the instructions outlined in the settlement statement.

6. **Recording of Documents**: After the closing, the closing agent or escrow officer is responsible for recording the deed and other relevant documents with the appropriate government office, typically the county recorder's office. Recording the deed officially transfers ownership of the property from the seller to the buyer and ensures that the transaction is legally binding and publicly recorded.

7. **Distribution of Documents and Funds**: Once all documents are signed, funds are transferred, and the transaction is recorded, the closing agent or escrow officer distributes copies of the closing documents to the buyer, seller, and any other parties involved in the transaction. The buyer receives the keys to the property, officially taking possession of their new home.

8. **Completion of the Closing**: With the signing of documents, transfer of funds, recording of documents, and distribution of keys completed, the closing process is officially finished. The buyer becomes the legal owner of the property, and the seller completes their obligations under the sales contract.

Overall, the closing procedures represent the final steps in a real estate transaction, culminating in the transfer of ownership of the property from the seller to the buyer. It is a significant milestone in the home-buying process and requires careful attention to detail to ensure a smooth and successful closing.