On what date is the closing for the residence scheduled?

The correct choice indicates that the residence closing is scheduled for June 16. In real estate transactions, the closing date is a crucial aspect as it is when the ownership of the property is officially transferred from the seller to the buyer. This date is typically agreed upon in the purchase agreement and depends on various factors such as negotiations between the parties involved, financing arrangements, and the completion of inspections or repairs.

For the answer related to June 16, it suggests that this date may align with the timelines established by both the buyer and seller, allowing for adequate preparation and setting of expectations. In comparison to other potential dates, June 16 could have been selected to accommodate these factors, ensuring all parties are prepared and can comply with necessary document submissions or financial arrangements before finalizing the sale.

Overall, the significance of citing June 16 as the closing date reflects careful planning and agreement within the transaction, which is intended to ensure a smooth transfer of property ownership.