Property Closings

Beginning A New Chapter

Investing in a new home or deciding to sell your property can be one of the most exciting, life-changing decisions you can make. It presents an incredible opportunity to jumpstart a brand new chapter of your life. While this can be an exhilarating experience it’s important to consider the risks that are involved if your closing isn’t handled properly. Careless or fraudulent behavior can cause horrific scenarios where vast amounts of money are lost. Fortunately, whether you’re buying or selling a property Rivertown Law can make the complicated closing process seem easy, providing reliable legal assistance that is sure to help your closing go flawlessly. 

Residential Closings vs. Commercial Closings

Before discussing the differences between residential and commercial closings, it’s important to understand what a closing itself is. A closing is the final stage of the real estate process where documents and payments are transferred to transfer ownership of a property from the seller to the buyer. There are two main forms of closings: residential and commercial closings.

Residential Closings

A residential closing is a closing on a property that is being used for individual use and is classified as a “single family home/property.” Apartments and condos don’t fall under residential closings, for example, because they are considered to be multi-family housing. The process for conducting a residential closing is fairly straight-forward, as you typically only have one other party to deal with. 

Commercial Closings 

A commercial closing is a closing on a property that is being used for business purposes or is considered to be “multi-family housing.” Offices, apartment complexes, and hotels are all examples of properties that would be considered to be commercial. The process for a commercial closing is typically more complex than a residential closing as there are multiple parties involved in the matter.  

The Role Of The Attorney

Understanding the type of closing you need and what that process will look like is crucial for your closing to be successful. Laws regulating the two forms of closings and the procedures that must be followed for each are vary in at least a few components, so having someone with knowledge on the closing process will ensure that your closing goes as smoothly as possible.

South Carolina takes a unique stance to help promote this success. In the state, you are required to have an attorney present at your closing. Your real estate agent plays a very important role here. They will present you with a few options for which attorney you can select to assist you in your closing. They’ll present these options in consideration of your best interests and who will help you guarantee the success of your closing. As their client, you have the task of selecting which attorney you want to assist you in your closing. 

When you evaluate each of your options, you’ll have a choice to make. You can select an attorney only cares about getting your closing done so they can move on to the next case, completely disregarding your personal needs and concerns, or you can select Rivertown Law, who will make you and your closing a priority. Our team has a combined 80+ years of successful real estate experience in the Myrtle Beach area as well as surrounding cities. As highly reputable litigators, our expertise in the field can help you tackle your closing so you can begin an exciting new chapter of your life. 

Get the proper legal assistance you need to protect what matters: Contact Rivertown Law today to schedule a consultation with one of our attorneys that will work diligently and effectively on your residential or commercial closing.