Usually refers to purchasing and selling of real estate. It is the final exchange where the parties exchange the agreed on amount for the title and deed.
Merriam-Webster Online Dictionary
closing (noun)1.
a concluding part (as of a speech)
2.
a gap (as in an article of clothing) - closable
3.
a meeting of parties to a real-estate deal for formally transferring title
Merriam-Webster Online Thesaurus
closing (adjective)following all others of the same kind in order or time
SYNONYMS:
bottommost, closing, concluding, final, hindmost, lag, latest, latter, rearmost, terminal, terminating, ultimateRELATED WORDS:
consequent, ensuing, eventual, following, succeeding; conclusive, crowning, decisive, definitive; farthermost, farthest, furthermost, furthest, remotest; lowermost, lowest, nethermost; endmost, extreme, outermost, outmost, utmost; penultimateNEAR ANTONYMS:
eminent, premier, superiorthe last part of a process or action
SYNONYMS:
capper, close, closing, conclusion, consummation, end, endgame, ending, finis, finish, grand finale, home stretch, mop-up, windup, wrap-upRELATED WORDS:
acme, apex, capstone, climax, copestone, coup de grâce ( coup de grace), crescendo, crown, culmination, high-water mark, meridian, peak, pinnacle, summit, tip-top, top, zenith; aftermath, anticlimax, coda, epilogue ( epilog), postscript; shank, tag end, tail endNEAR ANTONYMS:
foreword, introduction, overture, preamble, preface, prelude, prologue ( prolog)