Definition
The completion of a real estate transaction where all funds are transferred, documents signed, and title transferred to you. Settlement is another term for closing, used interchangeably in many markets.
Not sure where this fits?
Answer a few questions and we’ll open the path that fits, at the right step.
Find my pathAbout this term
Settlement involves the coordinated transfer of funds from the buyer's lender, buyer's down payment, and earnest money to the seller. The title company coordinates settlement and ensures all obligations are met. Settlement is the moment ownership legally transfers to the buyer.
Pro Tip
Coordinate your move-in logistics for the settlement date. You'll typically receive keys immediately after settlement.
Example
Settlement occurred on Friday when the buyer's financing funds were wired, documents were signed, and title was transferred to the new owners.