Whether you’re a buyer or a seller, there are a lot of things to keep track of in a commercial real estate transaction. In this article, we will share some of the essential items you need to bring to your commercial real estate closing – from the perspective of both the buyer and the seller.
What the Buyer Needs to Bring to Closing
As a buyer, here are a few of the items you need to make sure you have with you at the closing table:
- Photo ID (passport, driver’s license, or state-issued identification card)
- The purchase agreement (the buyer’s copy)
- Cashier’s checks for all necessary payments
- Proof of purchase of insurance
- Invoices for unpaid taxes, utilities or assessments
What the Seller Needs to Bring to Closing
On the other end of the closing table, the seller of the property will need to make sure to bring all of the following items:
- Photo ID (passport, driver’s license, or state-issued identification card)
- The purchase agreement (the seller’s copy)
- Invoices for unpaid taxes, utilities and assessments, as well as the most recent readings from the utilities meter
- Receipts for the most recent mortgage interest payment
- Bill of Sale
- Proof of satisfaction of any mechanics’ liens, chattel mortgages, judgments, or mortgages that were paid prior to the closing