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This provision acknowledges a negotiated time to ?close? and is not a firm date that can immediately lead to a material breach of the Contract. The ?on or about? date provides for flexibility in which the parties must adhere to the terms of the Contract and close.

If you are buying or selling a home in the state of New York, it is required that you work with an attorney to process all contracts and represent you at the closing. In addition, your attorney will assist you by: Preparing the first draft of the sales contract. Finalizing the contract between the buyer and seller.

Whatever the reason, you will need to retain an attorney, experienced in real estate, to draft a new deed conveying (i.e., transferring) your home to yourself and the person you wish to add to your title. In addition to the deed, your attorney will also need to prepare transfer tax returns.

A real estate transaction closing in which the transaction parties, their counsel, a representative of the title insurance company, and any other necessary parties convene in person to execute and exchange the closing documents and transfer closing funds.

Buyer, seller and lender attend closing. All parties and their attorneys will typically attend the closing, although closings can be arranged without all parties present, either by using a power of attorney or closing in escrow by mail.

Another variation is the "New York Style" closing. For this closing, the documents are recorded before disbursement, but the later date need not reflect the posting of those documents. The transaction can usually disburse the same day. Most Deed and Money closings are actually done "New York Style."