Oregon 30-Hour Real Estate Law Practice Test

In a face-to-face closing, who typically meets with whom?

1. Buyer and buyer's agent

2. Buyer and lender

3. Buyer and seller

4. Seller and seller's agent

The correct answer is: Buyer and seller

In a face-to-face closing, it is typical for the buyer and seller to meet together along with their respective agents to finalize the transaction. This meeting is crucial as it allows both parties to sign all of the necessary documents such as the deed, settlement statement, and any other relevant paperwork. The in-person aspect of the closing serves several purposes: it provides an opportunity for the buyer to ask questions directly to the seller about the property, address any last-minute concerns, and allows the process to be more personal, which can help to build rapport and ensure that both parties are satisfied with the transaction. While other options involve interactions with agents or lenders, they generally do not encapsulate the essence of a face-to-face closing as directly involving both the buyer and the seller in the transaction.