LitaWrites (real_lawyer) wrote,

Do You Want The Money Or Not?

For not the first time, and probably not the last, I am put in a position of having to pester the attorney for the sellers to provide me with a list of checks needed at the closing.

If my clients, the buyers, don’t show up with the right checks in the right amounts, the sellers may be unable to pay off their property’s liens and/or have the correct sums to turn around and buy at the next closing.  That’s why it is imperative that the sellers’ counsel, the only one who knows what’s what and who owes whom, clue me in so I can assist in ensuring the closing isn’t adjourned nor delivery of possession delayed.

Yet again, less than 48 hours before a closing, I’m initiating the same “what checks do you require?” discussion I’ve done twice since the closing was set, because if there’s a problem, my clients can get hurt.  In some cases, a prior closing (or two) in a string of buys & sells may not happen if timely vacancy can’t be promised and/or those buyers’ counsels can’t be advised how to cut checks. In others, a long arranged and difficult to maneuver day off may be squandered, or a mortgage interest rate may expire.

So much of this business is outside of my hands, and yet the responsibility falls squarely on me to make sure nothing goes wrong.

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