What final step must George complete as part of the residential sales process after closing a transaction?

Retaining copies of transactional paperwork is the final crucial step in the residential sales process after closing a transaction. This step serves several important purposes. Firstly, it provides George with a record of the entire transaction, which is essential for both legal protection and future reference. Having a complete set of documents allows him to address any potential disputes or issues that may arise regarding the sale.

Additionally, retaining these copies is important for compliance with state laws and regulations, which often require real estate professionals to keep certain records for a specified period. It also aids in proper record-keeping for tax purposes, as George may need to refer back to these documents when filing taxes or dealing with any financial matters related to the property.

While the other options—such as depositing earnest money, scheduling contractors for repair work, and taking photographs—are relevant tasks in the real estate process, they do not constitute the final and comprehensive step required upon closing a transaction. Therefore, it is essential for George to ensure that he retains copies of all transactional paperwork as the last step in the process.