The Real Estate Encyclopedia
What Is A Dry Closing?
Category - Home Selling Questions - General Home Selling FAQ's

A closing that is complete except for the final act of disbursing funds and delivering documents is a dry closing.  The parties have fulfilled their obligations of signing documents and paying money. 

 

A dry closing may occur if all parties have gathered for the closing and there is a delay in funding the loan, which might be caused by a last minute underwriting issue or a missing supporting document.  If all terms of the contract have been met and all parties agree, the closing attorney may move forward with the signing of all documents and disburse the funds the following day or as soon as available. 

 
Category(s)
Home Buying Questions - Buying Legal & Closing FAQ's
Home Buying Questions - General Home Buying FAQ's
Home Selling Questions - General Home Selling FAQ's
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