Real estate · Reinvent NY glossary
Closing (also called 'settlement') is the final step in a US real estate transaction where the property officially changes hands. At closing, the buyer signs the mortgage documents, pays closing costs, and receives the keys. The seller signs the deed transferring ownership. An escrow agent or closing attorney facilitates the process. In New York, closings typically take place at the seller's attorney's office. The entire closing meeting lasts 1-3 hours. From accepted offer to closing, the timeline is typically 60-90 days for financed purchases and 30 days for all-cash deals.
The four states international buyers ask about most: New York up 5.2% on the year, California at a 4.22% yield, and what Texas and Florida really cost.
Indiana, Missouri and Ohio in 2026: state gains of 3-3.5% on the year with yields of 5.75-6.61%, and the secondary cities quietly outperforming the metros.
Baltimore in 2026: a $192,669 typical value, $1,799 rents and an 11.2% gross yield — the highest on the Northeast corridor, and what the price is telling you.
Ohio in 2026: a $251,502 state median up 3.5% on the year, with Cleveland at a 14.13% gross yield and Columbus at 6.96% — and what separates the two.
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