The closing process is always changing. Closings usually take about 45 days to complete. This mainly depends on the buyer's financing availability, successful home inspection completion, and various lender conditions (ex. title search, title insurance, home inspections, surveys and appraisals).
The closing process is the transfer of the title of the property from the buyer to the seller. The buyer will receive the keys to the home or the deed to the land, while the seller receives payment for the property. The amount the seller receives is based upon the amount that is still owed on the mortgage, any outstanding fees or taxes and any additional closing costs. All legal papers are filed with the local record office.