My clients and I get paid, and the buyers get a property.

Hopefully the seller and buyer are smiling because they are so happy they are closing. Keys change hands. Money changes hands. Ahhhh

PAYDAY for ALL... Sellers get their Profit, Buyers get their Home, and I get PAID for helping make ALL their DREAMS comes TRUE and make some NEW Friends!!!

The deed and ownership of the property are transferred from seller to buyer. The deed is recorded by our County Recorder. Disbursements are made out of proceeds to whoever is owed payment. And the transaction is closed.

Documentation is executed, clear title is shown and then the deed is passed for money!

In AZ it simply means the buyers have signed the final paper work as have the sellers.  The actual 'closing' occurs once it records at the county.  At that point agent will deliver keys to buyer and buyer takes possession of home.

Documents are signed, money is paid for real property, keys are left with the attorney for buyers (if a structure is involved) then, the Deed is recorded.   

The details? It's like the Matrix. You have to experience it. No one can tell you

The financial aspects of the transaction are completed and the documents are executed.

Monies get accounted for as far as debits and credit, funds get sent, and it is sent out for recordation.  That is, after all paperwork is signed.

If done correctly and well, sellers get the funds from the sale of their home and the lucky buyer whose offer was accepted gets the keys to their new home. 

All parties are happy dancing. 

This is what happens in Silicon Valley, California. 

Usually everyone is happy!

Our volunteer time spent on getting everyone to the closing time becomes paid time. 

It varies by state in terms of the actual process, but ultimately the property legally changes hands from seller to the new and happy buyer who then takes possession!

As everyone has said - money is paid to title, money is paid to Seller, keys are exchanged, and REALTORs get paid.   Title records sale.

One party dumps debt while another swaps rent for real debt.
Both parties REJOICE.
Agents pry for testimonials and referrals and harvesting the ripples.
No time to party. The next harvest may be months away.

I am guessing that you are a student and this question has been assigned to you by your instructor.

You may find it interesting to know that closings are handled differently in different states according to the local laws and customs.

In the San Francisco Bay Area, the buyers and sellers sign their respective documents, appropriate notarization is done, final funds to cover closing costs and down payment are deposited by the buyers, the loan funds are provided by the lender and the deed is released by the title/escrow company to the county recorder to be recorded…on the next business day. Once recording has taken place, the transaction is finalized, and the escrow has closed. The results are that the property has changed hands and the sellers walk away with whatever funds are due to them. There also other costs and fees which are paid at closing which I have not detailed.

Bob Crane said it best! That is what happens when things go smoothly.

Unless it is cash, the lender gets a new longtime client, all parties involved get paid and the buyer walks away with keys to a home that will hopefully be a solid investment choice.

Champagne corks pop

Pretty much nothing up here, lol   The lawyers for both parties have done their job days in advance ie signing, bank instructions, etc.  Buyer's lawyer would have been in possession of keys in advance.  Realtors do not attend!

It depends. It can vary with closings.

Title transfers from the seller to buyer.

sellers hand over the keys, attorney gives sellers a check for equity in house minus the commission which is paid to brokerages.

in my state buyers get keys (unless contract provides otherwise) and sellers get funded and brokers get paid.

Depends on your state and sometimes area of state. Table funding or escrow...

Escrow state: buyer meets with notary. 150 pages signed. Wires final funds to title company. Everything is checked and balanced. Next day the deal records as long as all the t's are crossed. Usually escrow involved (unless Northern California it's Title)

Table funding: everyone shows up same day, in morning, funds wire, everything signed and notarized, deal records same day after all things are checked and balanced. Usually attorney involved