closing a sale

Pines

I'm wondering what actually happens on the closing date in a private treaty sale for a secondhand home. Who needs to be physically present, what needs to be signed, and so on? Does everyone (vendors, purchasers, both solicitors) have to meet somewhere or is it done at a distance?

Thanks for any replies

Strictly speaking, the Solicitor for the Purchaser should attend at the offices of the Solicitor for the Vendor, bringing a draft for the balance funds. This is simply exchanged for the title deeds, supporting documents and keys and any other matters set out in the contracts or in replies to requisitions. It is not necessary for any client to attend, indeed it would be unusual.

However, in most cases closing now takes place by post. The documents referred to above are posted out and the moneys posted back with the usual phrase that they are forwarded strictly on the basis that they are to be held in trust pending receipt of all closing documents. The Purchaser's solicitor would then go through the documents and fax back any queries, or in the alternative confirmation that the funds can be released.

Pines

Thanks Conor. I unwittingly agreed to attend a series meetings on the day that I'm closing, so it's good to know I can leave it all in the hands of my solicitor.