Tip 5-2014: President's Day & Potential Bad Weather

All local Clerk's Offices and most banks will be closed on Monday, February 17^th for Presidents' Day. In addition, many other offices (attorneys, surveyors, and title companies) will also be closed for this National Holiday. 

For closings, this means that if the deed needs to be recorded before the Buyer can occupy, try to schedule the closing for Thursday February 13^th, or, as a last resort, early on Friday the 14^th. If the deed is not recorded by Friday afternoon, the Buyer may have to wait until Tuesday to occupy.

Possible Alternative Strategy:  Arrange for the Buyer to get his keys once the Buyer has signed all of his loan documents and delivered his money to the closing attorney. Also, given the current winter weather forecasts, it is quite possible that offices will either open late, close early, or close entirely if the weather is bad enough in the next few days.  

Accordingly, all parties need to be on their toes and remain flexible when it comes to upcoming closings. Be sure to check with individual offices (Clerk's offices, attorneys, settlement companies, banks, etc.) to verify if the office is open. If we all work together, we can reach success even in complicated times!

 

Contact me at 434-951-0858 or Tucker@TGBLaw.com if you have questions.

William D. Tucker, III
Tucker Griffin Barnes P.C.
Charlottesville, VA
434-973-7474
www.TGBLaw.com