Closing on a piece of commercial real estate is a big deal and you need to make sure you are fully prepared before you sit down at the closing table and start signing documents. In this article, we are going to provide a quick checklist of items you need to have ready for closing your commercial transaction.
Consult with a Title Company
Well in advance of closing, it’s important to consult with a title company to begin preparations. There are a lot of things that need to get done before you’re ready to close on your property and the earlier you start checking things off your list, the better.
Bring All the Required Physical Items
Whether you’re a buyer or a seller, there are a handful of physical items you need to bring with you to the closing, including:
- A photo ID (driver’s license, passport, or state-issue ID card)
- Your copy of the purchase agreement
- Cashier’s checks for any required payments
- Invoices for any unpaid utilities, taxes, or assessments
- Proof of purchase of insurance (buyer only)
- Bill of sale (seller only)
- Receipt for the most recent payment of mortgage interest (seller only)
Commercial Partners Title in Minneapolis, MN
Commercial Partners Title is your go-to expert on all things title insurance. We have decades of experience facilitating commercial title transactions in Minnesota and across the country. We have built up a reputation as experts in commercial title insurance around the United States. Our team of title closers and underwriters can help make sure that you are fully prepared for your closing. Contact us today at our offices in downtown Minneapolis to get to know us better and discuss the details of your upcoming commercial transaction.