When dealing with the sale or purchase of a commercial property, many people wonder when is the most beneficial time to schedule the closing. Often, people purchasing commercial property simply assume that all closings happen at the end of the month. However, that’s not always the case. In fact, the end of the month may not be the best time to close on your property. In this article, we are going to discuss how to choose the best time to close on your commercial real estate transaction.
The Earlier in the Month, The Better
In general, when scheduling a commercial real estate closing date, the earlier in the month, the better. Why is that, exactly? Most closings end up happening near the end of each month, so it’s going to be harder to find a time for your closing at the month’s end. Because title companies are generally less busy earlier in the month, you will likely receive better, faster service if you schedule your closing date early on.
Another reason it’s good to schedule your closing early in the month is that it builds in a buffer for your transaction. Sometimes, there are factors that arise during closing that can derail your transaction. If you are closing on the last day of the month, there may not be enough time to resolve these issues before the end of the month.
Minnesota Title Company
Commercial Partners Title Company has been providing commercial title underwriting services to clients throughout the state of Minnesota and greater United States for decades. Our team of underwriters, escrow agents, and title closers can work with you throughout the length of your transaction and answer all of your questions along the way. Contact us today at our primary offices, located in the heart of downtown Minneapolis, to learn more about our service catalogue and how we can help with your next commercial transaction.