Escrow & Title
A Minnesota commercial sale involves a simultaneous close where the seller is using proceeds from the sale to immediately purchase another property. The closing agents must coordinate so that:
AThe two transactions close independently with no coordination needed
BThe sale proceeds are available and disbursed in time to fund the purchase✓ Correct
CThe same title company handles both transactions without additional fees
DBoth properties are owned by the seller for a brief period
Explanation
Simultaneous or back-to-back closings in Minnesota require precise coordination between closing agents. The first property must close and proceeds must be available before the purchase can be funded.
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