A real estate transaction involves the process of buying, selling, or leasing property, such as land or buildings. This process typically includes several steps, including negotiations, inspections, and financing arrangements. Both buyers and sellers often work with professionals like real estate agents and attorneys to ensure a smooth transaction. Once an agreement is reached, a purchase agreement is signed, outlining the terms of the sale. The transaction usually culminates in a closing meeting, where ownership is officially transferred, and necessary documents are signed. This process ensures that all legal requirements are met and that both parties fulfill their obligations.