Dry Close defined: Dry close is a type of real estate closing in which the entire closing requirements are fulfilled except the disbursement of funds. In a dry closing all involved parties agree that the closing can still happen and the funds are transferred as soon as possible following the closing. A real estate closing is the completion of a transaction involving the sale or exchange or real estate. In a traditional closing, the title to the property is transferred to the purchaser and all finances pertaining to the purchase are settled.
Above is a definition for “Dry Close” from PrivCo’s Private Company Knowledge Bank, the definitive online and e-book guide to private companies and private company deals.
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