What happens at closing?

Closing is the final step in a real estate transaction — the formal meeting at which ownership of the property is legally transferred from seller to buyer. During this meeting, a significant number of documents are reviewed and signed, funds are distributed, and the deed is exchanged. In New York, both parties are typically represented by their own attorneys, and the closing is usually conducted at one of the attorney's offices or at a title company.

In the Western Catskills, closings for properties in Delaware, Ulster, Greene, and Otsego counties are generally conducted in person, often at the office of the buyer's or seller's attorney. The process can take anywhere from one to several hours depending on the complexity of the transaction. Rural properties with wells, septic systems, right-of-way agreements, or large acreage may involve additional documentation. Buyers should arrive prepared to sign numerous documents and bring any required certified funds — your attorney will advise you of the exact amount in advance.