On what date is the closing scheduled in the Henry–Susan example?

On what date is the closing scheduled in the Henry–Susan example?

• A. September 15
• B. August 15
• C. September 1
• D. October 1

Answer: (A)

Closing dates are fixed by the purchase agreement and assume enough time to complete financing, a title search, and any required contingencies. In the Henry–Susan example, the contract sets a signing date of August 15 and allows roughly a 30-day window to satisfy financing and title requirements. That window brings the closing to September 15, the date when all conditions are ready for funds to transfer. The other dates would either come too early to complete those steps or extend beyond the agreed timeframe, so September 15 fits the contract’s schedule.

Closing dates are fixed by the purchase agreement and assume enough time to complete financing, a title search, and any required contingencies. In the Henry–Susan example, the contract sets a signing date of August 15 and allows roughly a 30-day window to satisfy financing and title requirements. That window brings the closing to September 15, the date when all conditions are ready for funds to transfer. The other dates would either come too early to complete those steps or extend beyond the agreed timeframe, so September 15 fits the contract’s schedule.