What Is “Closing”?
Closing is when all final paperwork is signed, money is transferred, and ownership of the property officially changes hands. It's the finish line of the transaction. In Tennessee, closings are typically handled by a title company, and often involve a split closing — where the buyer and seller each have their own title rep or closing attorney (see What Is a Title Company?).
What the Title Company Handles
- Coordinates the closing date/time with all parties
- Prepares final documents, including the deed, settlement statement, and loan paperwork (if applicable)
- Collects and distributes funds (down payment, loan proceeds, agent commissions, seller proceeds, taxes, etc.)
- Ensures all liens are cleared and the title is ready to transfer
- Records the deed with the county once everything is finalized
- Issues title insurance to protect the buyer and/or lender
What Buyers Do at Closing
- Review and sign loan documents (if financing)
- Sign final purchase documents
- Bring a government-issued ID
- Bring certified funds for the amount due (cash to close), or wire it in advance
- Receive a copy of everything signed
- Get the keys once the deed is recorded (often same-day)
What Sellers Do at Closing
- Sign the deed and transfer documents
- Confirm mortgage payoff information (if there's a loan to be paid off)
- Provide forwarding address and wiring instructions for proceeds
- Bring ID and any remaining house keys, remotes, or warranties
- Receive a settlement statement showing final numbers
Remote or In-Person?
- Buyers typically close in person, especially when financing
- Sellers often close remotely, with a notary or via mail-away package
- Many title companies also offer mobile closings or digital options (depending on lender)