Tennessee Realtor State Practice Exam

A closing where all parties and their representatives sit together at a table is known as what?

1. A virtual closing

2. A drive-thru closing

3. A face-to-face closing

4. A delegate closing

The correct answer is: A face-to-face closing

A closing where all parties and their representatives sit together at a table is referred to as a face-to-face closing. This type of closing allows for direct interaction among all parties involved in the transaction, including buyers, sellers, real estate agents, and any necessary representatives such as attorneys or lenders. The benefits of a face-to-face closing include the ability to discuss any questions or concerns in real time, ensuring everyone understands the documents being signed, and fostering an atmosphere of collaboration and transparency. Additionally, being physically present can help to build trust and facilitate better communication, which is beneficial in completing the transaction smoothly. Other types of closings, such as virtual or drive-thru closings, involve different dynamics and arrangements that may not provide the same level of personal interaction and engagement among the parties involved.