Settlement services refer to the various processes and activities that occur during the closing of a real estate transaction. These services ensure that all legal and financial obligations are met before the transfer of property ownership. Key components include title searches, document preparation, and the disbursement of funds. Typically, a settlement agent or escrow officer oversees these services, coordinating between buyers, sellers, and lenders. They ensure that all necessary paperwork is completed and that the transaction complies with local laws. This helps to protect the interests of all parties involved and facilitates a smooth transfer of property.