Formal closing definition
Formal closing means an in-person, face-to-face meeting with the homeowner conducted by and in the office of a closing agent who is not employed by or affiliated with the grantee to complete final documents incident to the sale or transfer of an interest in property, or the creation of a mortgage or equitable interest in property, during which the homeowner must be presented with a completed copy of any settlement statement required under state or federal law.
Formal closing means an in-person, face-to-face meeting with the homeowner