Dated: October 24 2016

Views: 2119

I went to a closing the other day in which I represented the buyer. It was a fairly simple one, and afterwards I reflected on the terminology “closing.” It’s the final step in executing a real estate transaction. The date of such is set during the negotiation phase and is usually several weeks or months after the offer is accepted.

During the closing the buyer delivers a check for the balance, usually in the form of a cashier’s check or wire transfer, due to the seller for the purchase of the property. In exchange, the seller signs the deed over to the buyer. The deed is registered with the recorder’s office and closing costs are resolved per the previously agreed upon negotiations. There are nuances of course, and it is not uncommon for surprises to pop up at the last minute – but that is not the point of this blog. It’s about what a “closing” represents.

The house being sold was built in the mid 1970s and meant to be a New Jersey shore vacation home. The sellers had enjoyed decades of summers as evidenced by the myriad of photographs on the walls. There were countless untold stories in the yellowing images – memories of a family. If I closed my eyes, I could imagine the conversations around the dining room table and the smell of seafood on the outdoor grill during the lavender and orange sunsets of July and August.

Image title

The new buyers had worked hard to position themselves to afford a second house – they had worked years for this moment. We looked at a number of properties until they found one they could envision as their new vacation home. Their excitement was palpable and infectious. I thoroughly enjoyed assisting them down this life path.

At the final walk-through before settlement, the owners of the house had packed up their belongings. The rooms were empty, barren of the photographs that had adorned the walls. It reminded me of an artist’s blank canvas awaiting a new palette of colors – the next composition to be painted and open for study and interpretation. The sellers were ready for the chapter to close; the buyers exuberant to open the next.

The settlement took place in northern New Jersey – more than two hours away from the vacation home, and ironically, near the town where my late grandparents started their lives and purchased their first home more than a half century ago. I entered the closing feeling wistful and sentimental. I reflected on how the term “closing” could just as easily be re-termed as “beginning,” because for my clients, and for the sellers, the exchange of the deed represented new beginnings for each. The transaction was mutually positive and mutually beneficial, and the summer house again became a summer home.

Afterwards, I presented my clients with a gift to recognize their new journey and a bottle of champagne. As I got in my car to drive home, I pondered a quote from Aristotle, “A beginning is that which does not itself follow anything by causal necessity, but after which something naturally is or comes to be. An end, on the contrary, is that which itself naturally follows some other thing, either by necessity, or as a rule, but has nothing following it.”

Image title

My job is about creating “beginnings”, and I love it!

From your “Running Realtor” Andrew Gonzales…

Blog author image

Andrew Gonzales

As a lifelong resident of Ocean County, New Jersey, Andrew Gonzales brings exceptional insight into local market trends, and full knowledge of ordinances, insurance requirements, and FEMA standards. A....

Latest Blog Posts

The Top Reasons Most Home Purchases Fall Through

Yes, some home sales don’t make it to closing. There are a number of situationsthat may derail a deal, and it’s a nightmare-come-true when it happens.The good news is that the percentage of

Read More

Chowderfest Long Beach Island October 1 2022

The Chowderfest on Long Beach Island is scheduled for Saturday October 1 - 10 - 7pm .  Rain date on Sunday October 2.   If you have not gone before, this is a fun , family and pet

Read More

Preparing For The Unexpected

Check out these great tips to help you in the event of an emergency.To search LBI homes for sale, as well as the mainland, click here http://kpileggi.vandykrealestate

Read More

Proposed Skate Park In Beach Haven

The borough of Beach Haven hopes to have a brand new attraction and community draw by summer 2023: a skatepark. The proposed skatepark would be located to the west of the basketball court on

Read More