Introduction to Real Property Closings: Buyer and Seller Issues, Documentation, Pitfalls to Avoid

This CLE webinar will provide new real estate attorneys with an overview of the closing process for real property sales transactions, providing buyer and seller perspectives. The panel will discuss closing preparations, including drafting the closing documents, title searches, and handling funds. The panel will also examine what to expect on closing day and post-closing issues.

The closing of a real property sales transaction is the final, and perhaps most critical, phase of the process where the ownership transfers from one party to another. New attorneys should understand the closing process, unique considerations for buyer's and seller's counsel, and how to best protect their client's interests.

Much of the work related to closing happens before closing day and includes reviewing the sales agreement to ensure the provisions are in their client's best interests; conducting a title search and addressing any issues; and preparing closing documents. Counsel must coordinate with multiple stakeholders throughout the process and may act as an escrow agent handling funds.

On closing day, counsel's duties may include overseeing document signing, ensuring disbursement of funds, and finalizing the transaction. Additionally, counsel may have post-closing responsibilities, including filing a deed and other documents with the appropriate local government office and addressing any other issues that may arise.

Listen as our expert panel provides an overview of the closing process for real property sales transactions, including buyer and seller perspectives, and offers best practices for new attorneys.