A residential real estate closing involves two actual closings: the loan closing and the sales transaction closing.

Question

Quizplus · Accepted Answer

This statement is true, as a residential real estate closing typically involves both the loan closing and the sales transaction closing. The loan closing involves signing all the necessary documents related to the mortgage loan, while the sales transaction involves transferring ownership of the property and paying any associated fees and taxes. These two closings often occur at the same time and location.

A Residential Real Estate Closing Involves Two Actual Closings: the Loan