Many people who are purchasing commercial real estate want to know when is the best time to set the closing date. It’s true that most real estate closings occur at the end of the month, but is that really the best time? In this article, we are going to offer some suggestions for when to close on your commercial property to ensure the best possible service.
End of Month Service
The end of the month is when a lot of closings occur. As a result, it is almost always the busiest time of the month for title closers, escrow agents, and underwriters. Setting your closing date for the 29th, 30th, or 31st, while common, will result in slower service from your title company because they are working as efficiently as possible to close dozens of transactions.
Closing earlier in the month will all but ensure better service from all of the people who are working with you on your transaction in the lending and closing industries.
Time can Kill (or Delay) Deals
In addition to better service, another reason to set your closing for early in the month is to avoid any potential unforeseen issues that might prevent or delay closing. Fires, deaths, tornadoes, and more can all significantly delay your transaction. We find that it’s best to close on your property as soon as you are ready, rather than waiting until the end of the month.
MN Commercial Title Company
At Commercial Partners Title, our escrow agents, title closers, and support staff are recognized as experts in commercial transactions – both in Minnesota and across the country. We have been facilitating commercial transactions for our clients for decades. Contact us today to discuss the details of your transaction and how our title experts can help!