Abraham paid the full amount and completed the deal. He avoided debt by not accepting gifts from the people (compare 14:21–24). The Hittite elders witnessed the deal, ensuring no one could dispute Abraham's ownership of the land. The transaction happened at the city gate, where they conducted public legal and business matters (see 19:1).
The land became Abraham's permanent property, a first step toward God's promise to give him the land. God had not yet fulfilled his promise with this purchase. Abraham knew it, so he planned for the future (12:7). By buying land for his dead, he showed that God's promises continue beyond this life. This is the hope for all who die with faith.