Closing Dates in Conveyancing Transactions-Practical Property Advice
It’s always worth bearing in mind that you should treat the closing date as a “target date” to be reached by both parties to the transaction. It is not uncommon for things to go awry on that date. The purchaser doesn’t have cleared funds from his lending institution on the day. The Vendor is in a chain and his house is not ready so he won’t budge until it is. You name it and it can go wrong. Leave yourself some margin for error. That’s not to say everyone needs to work hard towards closing on that date. All we are saying is that it is prudent and will make it less stressful if you haven’t given notice on your existing accommodation for that date.
Property Department, Healy O’Connor Solicitors Dublin and Cork