THE CLOSING PROCESS
Know what comes next.
Before the deadline.
Each transaction has its own terms. These are the main stages to discuss with your attorney.
Start before signing
Tell counsel about the property, the parties, financing and your timing. Review the proposed contract and riders, including contingencies, deposits, included items and any occupancy arrangement, before making a binding commitment.
Track the contract conditions
Identify the dates and documents the contract requires. Financing, inspections and other conditions must be assessed against the actual agreement; an expected closing date is not a substitute for the terms you signed.
Address title and closing requirements
The transaction team coordinates the relevant title materials, lender requirements, payoffs and documents. Your legal review should identify unresolved issues, responsibilities and what must be delivered before closing.
Review the documents and funds
Understand the documents you will sign and the closing figures. Confirm payment instructions directly with the intended recipient through an independently verified contact method before transmitting funds.
Confirm remaining obligations
Recording, possession and other post-closing obligations depend on the transaction. Any agreed occupancy after closing should be addressed in the contract documents, with clear terms for possession and the responsibilities that continue.
General information, not advice for a particular transaction. Further reading: New York Department of State guidance on contracts and legal advice and CFPB guide to the Closing Disclosure.
YOUR NEXT MOVE