90. The Risks of Same-Day Closings & How to Avoid Legal Pitfalls

Send a textHost: Rajiv Rajpal Guest: Evan Shapiro, Real Estate Lawyer – Shapiro Law FirmEpisode Summary: In this insightful episode, Rajiv is joined by experienced real estate lawyer Evan Shapiro of Shapiro Law Firm. With nearly two decades of collaboration between their teams, Rajiv and Evan dive into one of the most common (and often misunderstood) challenges in real estate transactions: same-day closings.From the legal risks to practical delays, they break down what can go wrong, why things get held up, and how buyers and sellers can protect themselves.🔑 Key Topics Covered:Why same-day closings are riskyBuyers often want convenience—but face legal and logistical complications.Evan advises leaving at least one business day between selling and buying when possible.What can delay a closingChain reactions in real estate transactions.Bank funding delays and missing documents.Unforeseen issues like debris in the home or lack of cleaning.The legal mechanics of a closing dayTransactions can close as late as 5 PM. Lawyers can’t request mortgage funds until the actual day of closing.Delays from lenders can push closings into the late afternoon.Pro tips from the prosTry to schedule closings mid-week or the day after a long weekend.Consult your lawyer before signing your Agreement of Purchase and Sale.Expect delays and leave room for flexibility.Evan ShapiroTel:  416-224-0808 ext. 249Email: [email protected] https://www.garryshapirolaw.com/ Team RajpalInstagram: @teamrajpalFacebook:https://www.facebook.com/teamrajpalTikTok: @teamrajpalrealestatePhone: 647-875-8000Email: [email protected] www.teamrajpal.com Top 1% of 75,215 agents in the GTA*