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The phrase "close to being finalized" is correct and usable in written English.
You can use it when something is nearly complete and just needs a few more steps to be done. For example: "The design for the new website is close to being finalized; we just need to make a few more tweaks before we can launch it."
Exact(3)
And that seems reasonable, given that a Senate deal appears close to being finalized and that, according to Robert Costa, of the National Review, John Boehner has agreed to allow a vote on the Senate plan in the House.
A broad deal with CBS which was reportedly very close to being finalized, was slated to be announced at CES.
It looks like it has taken slightly longer to pull things together than was anticipated at the time, but the addition of JD.com — a long-term Tencent partner, which is reportedly putting $100 million in — it is close to being finalized.
Similar(54)
Rather than letting people unbox their new units only to find that it was temporarily busted, Oculus held the shipments until the SDK was closer to being finalized.
membership is expected to be finalized this year.
The menu still needs to be finalized.
The deal is expected to be finalized by May.
All is clear and has to be finalized now.
Even tougher standards are expected to be finalized next year.
Development is scheduled to be finalized next year.
The project has to be finalized by the end of 2016.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com