Buying and Selling is buying or selling a piece of property. This is sometime called transactional work. In order to sell real estate, there must be a real estate contract signed by each party. Normally real estate contracts have contingencies such as financing, inspection, attorney review, or some other future event. After the contingencies are done, then a real estate closing occurs. A closing normally happens at a title insurance office with an escrow agent. The escrow agent acts as the middle person who accepts the money and the deed from each party. At the time of the closing, a title company will issue a title policy. A title policy is an insurance policy whereby that company agrees to pay the amount of the policy if there is a defect in title. The escrow agent will record the deed and if there is a mortgage, the mortgage too. After the closing the seller will receive the money and the buyer will receive title to the property.