There are a lot of moving parts involved in a commercial real estate closing and many people have questions about what happens during and after closing. In this article, we are going to talk about what happens during and after the commercial title closing process.
What Happens During Closing?
Closing on a commercial property can take several forms. Sometimes closings occur in person at a title insurance office. With an in person closing, you sit down with someone from the closing team and sign the various required documents and exchange the necessary funds. In other instances, closings do not happen in person, but via mail. With this remote version of closing, the required documents are sent to you for review and approval. Once all the documentation is in order, funds are released to the appropriate parties.
What Happens After Closing?
After you leave the closing table, the closing documents are returned to the title company. The title company then process those documents to make doubly sure that everything was recorded properly. If any mistakes were made, the title company will take steps to resolve any issues. Once this process is finalized, the title company will send you your original documents along with your new title insurance policies.
Get Help with Your Commercial Real Estate Transaction Today
Get the help you need with your next commercial real estate transaction by contacting the experts at Commercial Partners Title Company today. We have decades of experience facilitating title transactions for properties of all shapes and sizes. Let us put our knowledge to use on your next transaction. Our team of experts can walk you through your entire transaction from beginning to end and answer any questions you may have along the way. Contact us at our downtown Minneapolis office to learn more about the process and how we can help!