The final phase includes preparation and the closing day.
1. Preparing for Closing
- Secure financing and ensure all lending requirements are met.
- Address regulatory requirements, including zoning and permits.
- Finalize due diligence and resolve outstanding issues.
2. Closing Day
On closing day, parties, with the assistance of real estate attorneys, will review documents and sign agreements, such as:
- Deed
- Bill of sale
- Lease agreement (if applicable)
- Financing documents
- Title insurance policies
Outstanding amounts, such as down payments and closing costs, must be settled before ownership transfer. The attorney will then record the transaction with the appropriate land registry.
