At a closing, the ownership of a property is officially transferred. All parties involved in the transaction are expected to attend this meeting. All pertinent documentation will officially be reviewed, verified and, once unanimously agreed upon, signed during this summit. This will authorize the transaction. Banks will come and present mortgage policy and financing documents to be reviewed and signed. The particularities vary across homes, condominiums and co-ops. Legal staff can help clarify the details. If necessary, new stock certificates will be issued. Eventually, the title form will be presented to the buyer, signifying the close of the deal. Closing costs encapsulate all of the various fees incurred during the buying process. These fees also vary case-by-case, but generally include escrow costs, broker fees, insurance-related costs, etc. Most of these costs are standard. A legal team can also help clarify the fine points of all closing costs.