Pre-Closing Checklist
Closing delays cost capital, damage reputations, and kill deals. A real estate transaction involves dozens of moving parts across multiple external organizations—lenders, attorneys, title officers, and syndicators. Relying on disorganized email threads to manage this process guarantees operational failure. This Pre-Closing Checklist provides a rigorous, standardized framework to execute transactions flawlessly, ensuring that every legal document, due diligence report, and capital wire is verified before funds go hard.
Due Diligence and Contingency Verification
The narrow window between an executed Purchase and Sale Agreement (PSA) and the expiration of the due diligence period is the highest-risk phase of any acquisition. This checklist enforces absolute discipline during this critical period. It tracks the exact deadlines for physical inspections, Phase 1 Environmental Site Assessments (ESA), ALTA surveys, and detailed lease audits. Users must explicitly check off the clearance of these contingencies. If a deadline is rapidly approaching and a third-party report is missing, the system highlights the vulnerability, allowing operators to either aggressively secure an extension or terminate the contract before the earnest money deposit becomes non-refundable.
Title, Escrow, and Legal Document Prep
Clear title is non-negotiable for institutional execution. The checklist dictates a strict sequence for legal review. It tracks the initial receipt of the title commitment, the drafting and filing of title objection letters, and the final clearance of all schedule B exceptions. Furthermore, it mandates the strict verification of all corporate entity documents. Users must confirm that the purchasing LLC is in good standing with the state, that corporate resolutions authorizing the purchase are signed by all members, and that the seller’s deed is properly drafted. Centralizing these requirements prevents last-minute scrambles for missing signatures that routinely delay commercial closings.
Funding Protocols and Settlement Coordination
The final phase of any transaction requires absolute financial precision and security. The Funding Coordination module tracks the logistics of capital deployment. It mandates the review and approval of the final ALTA Settlement Statement, ensuring that all pro-rations for taxes, rents, and broker commissions are mathematically correct. Crucially, the checklist requires dual internal verification of all outbound wire instructions to prevent catastrophic wire fraud. By standardizing the funding sequence—from LP capital calls to the final authorization of the closing wire—the checklist ensures a frictionless, highly secure transfer of asset ownership.
