The stuffing behind a closing
Do you know the difference between Closing and Closed? What About Stuffing and Dressing? I know they are all good things served up with a tasty purpose.
Stuffing, according to Merriam-Webster, is "a seasoned mixture (as of bread crumbs, vegetables, and butter) that is typically placed inside the cavity of a turkey, pepper, etc. ... Dressing is cooked in a dish separate from your poultry—like in a casserole dish—and is often used to "dress" your meal up.
The word "Closing" can be heard several times throughout your real estate transaction and it can carry several meanings. At the end of your transaction it is time to sign "the closing documents". These document types can vary, but while your signing those documents you are "closing". The title company then compiles all the necessary documents, funds and obtains funding approval from the necessary parties; During this systematic process, you are still in the "closing" process. Once approval is granted by all involved and the transaction is of record you can now considered your transaction “closed”.
Although often used interchangeably, Stuffing and Dressing are not one in the same nor is Closing or Closed.
So, take all the ingredients and combine them into bowl, While you are cutting, chopping and seasoning the stuffing you are “in closing” When the final product is presented and it’s time to eat, you can consider it closed!
On a side note, if it’s under cooked, or the transaction has post-closing issues, things can get messy, but that’s a topic for another day.
Chris Barnes, Vice President