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What’s the secret to closing a real estate transaction? The answer is very simple: there are no secrets. You, the brokers, the principals, attorneys, and everyone else involved in the transaction should
know every detail of the deal, whether it is a purchase or a lease,
before coming to the closing table. In a sense, the signatures and
activities at the closing table should only be formalities.
“No secrets should appear at the table,” asserts Jeff Bender,
SIOR, CCIM, executive managing director and principal of Cassidy
Turley in Cincinnati, OH. “The most important thing a broker can do
is plan ahead. What that means is all things that will occur at the closing table should be considered well in advance.”
Professional Report spoke with SIORs from Puerto Rico to
Quebec, and whether deeds are written in Spanish or the lingua
franca is French, there is little difference in processes.
“When you get to the closing table things must be already decided
and all parties should be aligned to close the deal,” asserts Hector
Aponte, SIOR, MBA, NAI Puerto Rico’s business director in
Or as Jean-Marc Dube, SIOR, MICP, a vice president with
Colliers International in Saint-Laurent, Quebec, observes, “getting
to closing is more about preparing the two parties about the ultimate
goal to be accomplished at closing. Be prepared with documentation
and make sure everyone is on the same page.”
This doesn’t mean that last minute entanglements, questions,
or the sudden appearance of undisclosed information doesn’t hap-
pen, but good preparation tries to diminish the likelihood of such