What Should I Expect on Closing Day?
Closing day is when everything comes together after months of work. Expect to sign many documents, handle last-minute issues, coordinate wire transfers, and wait for confirmation that the money has arrived. Stay calm and let your lawyers handle the details.
The Final Countdown
Pre-Closing Preparation
In the days leading up to closing:
- Your lawyers finalize all documents and closing conditions
- You'll sign employment agreements, non-competes, and other personal documents
- Final working capital and purchase price adjustments are calculated
- Wire transfer instructions are verified multiple times
- All parties confirm they're ready to proceed
The Signing Process
Document volume: Expect to sign 20-50+ documents
Electronic vs wet signatures: Most deals use electronic signing, but some require original signatures
Time required: Can take 2-6 hours depending on deal complexity
Read everything: Even if your lawyer reviewed it, you're bound by what you sign
Last-Minute Issues
Something almost always comes up on closing day:
- Missing signatures or notarizations
- Bank wire delays or verification issues
- Final working capital adjustments
- Insurance or regulatory filing requirements
- Employee retention or severance issues
Stay calm: Most issues are procedural, not deal-breakers. Let your lawyers handle them.
The Money Movement
Wire Transfer Timing
Wires typically happen after all documents are signed and conditions met
Multiple wires: to founders, employees, escrow agent, service providers
Bank cut-off times mean timing is critical (usually 3-5 PM)
Large amounts may trigger additional bank verification calls
Confirmation Process
Your lawyer will confirm when all documents are executed
The escrow agent or buyer's bank will confirm wire transfers are sent
Your bank will notify you when funds are received
It's not done until the money is in your account
Managing Your Emotions
Stress and Anxiety
Closing day is one of the most stressful days in business
After months of work, everything comes down to one day
It's normal to feel anxious, excited, and overwhelmed simultaneously
Have a support system in place—family, friends, advisors
When It's Really Done
The deal isn't closed until:
- All closing documents are fully executed
- All closing conditions are satisfied
- Wire transfers are confirmed received
- Your lawyer gives you the "all clear"
Only then can you celebrate
Common Closing Day Timeline
9-10 AM: Final document review and any last-minute changes
10 AM-12 PM: Document signing process
12-1 PM: Lunch break while lawyers coordinate final details
1-3 PM: Wire transfers initiated and verified
3-5 PM: Confirmation of fund receipt and deal completion
Evening: Celebration (finally!)