Settlement of the Sale

Closing the Deal
The closing process, which is known as settlement, is nowadays increasingly computerised and automated. Usually the solicitor for the buyer and the solicitor for the seller get together and exchange documentation and pass over the necessary money.
" Settlement is nowawdays computerised and automated ..."

In most cases the buyers and sellers don't need to attend, as the lawyers attend to the necessary details. In practice, closing the deal brings together the two parties who are part of the transaction process and most of the conditions and terms that were set down, as part of the offer would have at this stage been completed to the satisfaction of both parties.

The lawyers attend to any final rates, insurance, or other costs, still unpaid on the premises and will pay from the funds before finally passing over of the money. They will also take out money...

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