When can a closing be conducted differently from the purchase agreement?

The ability to conduct a closing differently from the purchase agreement hinges on the presence of another written agreement that explicitly outlines the new terms. A purchase agreement serves as a binding contract between the buyer and seller, detailing the conditions of the sale. However, should both parties choose to alter these conditions, they must document this decision in writing to ensure legality and clarity. This additional written agreement can provide specific instructions or modifications related to the closing process, therefore making it the correct basis for conducting the closing differently.

In contrast, verbal agreements, while sometimes recognized, are often harder to enforce than written ones. A bank’s requirements may influence the closing process, but they do not fundamentally change the terms of the purchase agreement unless agreed upon in writing between the buyer and seller. Similarly, while obtaining title insurance is an important aspect of the closing process, it does not itself warrant a departure from the original purchase agreement.