# Conditions precedent

The requirements that have to be satisfied before a closing happens.

A signed [purchase agreement](https://searchspheresource.com/glossary/purchase-agreement) is not a done deal: the close only happens once every one of these is cleared, from lender approval to [lease assignments](https://searchspheresource.com/glossary/lease-assignment) to clean lien searches. Tracking them like a checklist is what keeps a deal from stalling in the weeks between signing and funding, where many quietly die.

In numbers: The $3.6M financing commitment, the landlord's consent, the [license transfer](https://searchspheresource.com/glossary/license-transfer), and a clean lien search each sit as conditions precedent: any one unmet on closing day and no one is obligated to wire.

Source: https://searchspheresource.com/glossary/conditions-precedent
Not dated: A definition is editorial: what a term means, why it matters, and an example. None of it reads a source that can go stale, so there is no date to take and a stamped one would be the build time wearing a costume.

Site index for machines: https://searchspheresource.com/llms.txt