To close on a home is when you finalize the transaction of the purchase of the home. The whole accounting of the transaction is done, the buyer pays his money, all of the parties involved in the transaction are paid and the seller transfers title over to the buyer and the buyer becomes the actual homeowner.
At that time is when the seller transfers or signs over the warranty deed. Title searches are completed and marketable titles provided through the signing of the warranty deed or special warranty deed by the seller.
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