Closing the Real Estate Transaction Choose four terms or concepts that might be used during a Real Estate closing. Write a formal, 6 - 10 page APA formatted research paper explaining the meaning of each term, why it is important, to whom it is important (buyer, seller, real estate agent, closing agent, or lender). List any important issues and concerns or advantages and disadvantages. The Real Estate terms used should illustrate the field's current terminology. Some examples of such terms include HUD-1, escrow closing, deed, note, mortgage, marketable title, title search, binder, deed of trust, warranty or other deeds, closing costs, prorated prepaid expenses, transfer tax, etc.