A dry closing – also known as a table closing or signing appointment – is the final step in purchasing real estate. It’s when all documents are signed and exchanged, officially transferring ownership of the property from seller to buyer. During a dry closing, both parties meet at an agreed-upon place (usually with their real estate agents) to sign the necessary paperwork, after which the buyer takes possession of the property.
It’s a relatively straightforward process that marks the end of a real estate transaction. At this point, it’s important to make sure everything is in order and all parties are satisfied with their purchase or sale. Dry closings allow buyers and sellers to navigate legal matters quickly and efficiently, making sure all involved parties are happy with the outcome.
Overall, a dry closing is an important milestone in any real estate transaction and can be handled quickly and efficiently if both parties are well-prepared. Doing so ensures that all paperwork is accurate, signed correctly, and filed properly – ensuring that ownership of the property has been transferred without any problems. There are many resources available to help with this process and ensure the transition is as smooth as possible.
Please feel free to reach out if you have any questions about how a dry closing works or how to prepare for it! We’ll be more than happy to answer your questions.