Closing

The purchase agreement will set a date for completing the transaction, a process known as the “closing.” Prior to the closing date, the parties should resolve any remaining contingencies.

On the closing date, the parties may physically meet around a table, where the buyer may deliver the final payment, and the seller may sign and deliver the closing documents. Alternatively, the parties may send the foregoing documents to each other electronically or via a delivery service.

More and more closings are of the virtual type. In these situations, the closing documents are often mailed to the parties via courier for signatures and then sent back to the escrow agent for release at the closing date. This may seem anticlimactic, but an uneventful closing is preferred and is becoming more common. Round-table closings are becoming less common with the advent of technology.

A successful closing can occur smoothly when all parties are coordinated and prepared. You will want to be sure all documents have been prepared, approvals received, and that everything is ready for the closing so that you can begin the rest of your life.

Preparing Emotionally for the Closing

M&A Closing Process | A Complete Guide