Closing refers to the final step in a transaction, such as a real estate deal or a business agreement. During this process, all parties involved review and sign necessary documents, ensuring that terms are met and funds are transferred. It marks the official completion of the agreement. In real estate, closing often involves a title company or escrow agent who facilitates the transaction. They ensure that the property title is clear and that all financial obligations are settled. Once closing is complete, the buyer receives the keys, and ownership is officially transferred.