Real estate closing is sometimes referred to as settlement, completion, or escrow. This is the final step in buying or selling a property. For example, if you placed an offer to buy a property and the owner officially accepted it, parties will come up with a purchase agreement where the closing date is declared. The buyer will officially be the owner of the property when it reaches the closing date.
During this time, the buyer or the new owner can move in, remodel, or renovate the property. However, there are many cases when legal disputes arise before closing. It can cause serious financials losses to either parties. With this, experts advise that in every real estate transaction, both parties, the seller and the buyer, must work with a reliable attorney that specializes in real estate closings Boca Raton.