Closing is a step in the mortgage process that puts you closer to becoming the owner of your home.
At Closing, you will sign loan documents, closing funds will be collected and the title agent will send specific documents to be recorded to transfer legal ownership of the property to you. Closing a mortgage is a legal process, so procedures and requirements will differ according to state and local laws.
Generally, the closing agent conducts the closing meeting and makes sure that all documents are signed and payments are properly disbursed. Some states require you to be represented by an attorney, others do not. Although, having an attorney present at the closing may not be required by law, you may want one to review the closing documents. The lender, seller, or their representatives and the real estate agents may or may not be at the closing. It is not unusual for participants to complete their part of the transaction without ever meeting.
Once the closing agent and the lender are satisfied that all of the instructions for closing are complied with, the transaction is complete and you are now the owner of the property.