We Are Experts AtCommercial Real
Estate Closings

We provide comprehensive commercial real estate closing services that will guide you through every step of the process, from the opening of escrow all the way through to the settlement table.
Commercial real estate closing services
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Home » Our Services » Commercial Real Estate Closings

Simplifying The ComplexBuying Commercial Property?
We Can Help Settle The Transaction

Closing on a commercial property is similar but distinctly different and far more complex than closing on your home. There are a number of additional requirements to consider, and a lawyer will likely need to be involved as well.
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Manpower, time, and money are critical to a successful commercial real estate closing. Depending on the size and scope of the transaction commercial closings can be an extremely complex process that will require careful planning and expertise.

It makes sense, in this way, that you’ll need to consider multiple factors to carry out your closing: technical, legal, regional, and to some extent interpersonal factors.

Here’s the truth of the matter: the way you negotiate can make all the difference in a successful commercial real estate deal.

Navigating issues that fall outside your expertise, or that are outside of your control, can be risky — which is precisely where we come in.

Our experienced team will help you achieve a stress-free commercial real estate closing.

At Triumph Title Group, we offer a clear and concise approach to commercial closings. Our team carefully schedules each milestone in the process, connecting with the client to share our thoughts and keep them updated along the day.

Any questions or concerns that may arise will be addressed quickly. Meanwhile, our careful preparations and extensive expertise are designed to bring you peace of mind. With our team available for you 24/7, we will ensure your commercial real estate transaction is quick, easy, and thorough.

What We DoCommercial Closing
Services We Provide

Our firm works with commercial, industrial, retail, multifamily, government, and multi-property clients on a regular basis—closing the transaction and resolving post-closing challenges as needed.

Our expert staff comprise one of Florida’s most trusted title companies. Each specialist is trained to work directly with commercial clients alongside the attorneys, brokers, planners, surveyors, and other professionals involved in the real estate transaction.

  • Confirming receipt of the earnest money per the Contract of Sale.
  • Delivering the title commitment to all the relevant parties: seller, buyer, agents, and attorneys.
  • Reviewing the title commitment for curative purposes, working with the seller and their agent and/or attorney to resolve any issues that may arise.
  • Ordering payoffs for existing liens and tax certificates for both real and personal property.
  • Obtaining the documentation required to verify the legal status and authority of all corporate entities involved in the transaction.
  • Preparing the settlement statement per the Contract of Sale, along with any additional instructions.
  • Coordinating the review of all documentation by the seller’s and buyer’s agents and attorneys, plus the notarization and signatures of all documentation.
  • Closing the transaction, transmitting the loan documentation to the lender and recording the closing documents with the relevant county and Florida state authorities.
  • Issuing the owner and mortgagee title insurance policies and other relevant endorsements.

Crucial Steps To Take WhenClosing A Commercial
Real Estate Transaction

There are several steps involved in closing a commercial real estate transaction—and every detail matters. Here are four crucial steps to an efficient experience.

1. Craft a comprehensive transaction plan.

It’s imperative that you take a little time to save a lot of time. This is why establishing a detailed transaction plan is so important. Your plan should outline your objectives and what it will take to achieve them. It will guide you through all contract negotiations, including the steps needed to move through closing and into post-closing.

What else will this plan include? Think details such as zoning requirements, the building’s structural elements, and environmental regulations that may affect the transaction. And these are just some of the many factors you will want to feature in your plan.

While your transaction plan doesn’t have to be complex per se, it should definitely be thorough. It must also highlight the time required to get to closing, with some flexibility factored in for any challenges that may come up. This brings us to the next step in the process.

2. Pinpoint any potential issues that may arise.

You can expect a few hurdles as you approach the closing of your commercial real estate transaction. As such, you’ll need to expect the unexpected—and be prepared for any curveballs that might pop up.

The idea here is that anticipating issues before they become a problem can help you close your deal faster. It’s also important to note that many issues can later turn into opportunities. Risk-shifting methods are vital here. These may include title insurance with the relevant commercial endorsements, with help from a skilled lawyer and an expert title underwriter.

By being aware of each and every problem that may set you off course, and by engaging in multiple negotiation sessions with the relevant parties when necessary, you can mitigate potential problems and move swiftly through closing.

3. Identify and resolve third-party delays.

On paper, commercial real estate transactions involve a buyer and a seller. In reality, these transactions are far more complicated! From public agencies to vendors, there can and will be other parties involved in the process—and these entities may experience delays that will set your timeline off-course.

It’s key to remember that while you might have a deadline in mind, these third-party people and organizations do not (at least not necessarily). Your transaction is likely one of many these entities must navigate, and chances are they simply aren’t under the same level of pressure.

Fortunately, a seasoned commercial real estate attorney can navigate delays and leverage their network to push for a quicker response. Title companies’ in-house attorneys have generally developed close relationships with these third parties, and they can expedite the commercial transaction when necessary.

4. Stay organized and coordinate the details through closing.

The end of a commercial real estate closing can be anxiety-inducing. From relying on independent third parties to providing certifications on a moment’s notice, there’s a lot at stake during this part of the process. While approaching the closing date, it’s paramount that all real estate brokers, attorneys, and other representatives remain available and responsive.

This is because near the end of your transaction, you will almost definitely face tight deadlines and both new and unexpected requirements. Signatures issued too early in the process may well be void by the necessary time—and everyone involved will need to quickly resign to avoid any delays.

And so, staying organized and well-coordinated is truly indispensable. You will want to make reverifying your closing requirements, dates, and documentation top priorities. The closer you are to the end of your transaction, the more attentive and responsive you will need to be. Every party involved in the commercial transaction must stay in touch to ensure a smooth process.

With awareness and creativity, however, you will be well-equipped to solving any problems that may arise in your commercial closing.

Address: 228 Hillcrest St, Orlando, FL 32801 | Phone: (407) 217-9231
Toll Free: (866) 895-3911 | Fax: (407) 550-7444 | Email: info@triumphtitlegroup.com

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