Skip to main content

Closing Process

What is the Closing Process?​

Once a winner is confirmed, both buyer and seller enter a guided Closing Process.

  • Step-by-step instructions for both parties
  • Standardized legal documents to review and sign
  • Wire transfer information and instructions

All documents must be signed to complete the transfer.

When can the Closing Process begin?​

Transfer agreements and wire transfers can only be executed after a minimum of 45 days have passed since the Bidding Window started AND the listing was visible to buyers during those 45 days.

This is a compliance requirement that cannot be waived.

How does payment work?​

The buyer pays the seller directly once all documents are completed. After the seller marks the payment as received, the final documents are released to both parties. This process carries the same payment risk typically associated with third-party sales outside of iCapital.

Are AML/KYC checks conducted?​

Yes, AML/KYC checks are conducted on the buyer by the Administrator during the finalization phase.

Can either party withdraw during the Transaction Process?​

Yes, either party can withdraw before signing final documents, though we encourage commitment once awarded. Note: Users can be prevented from further use of the platform if they withdraw from the process too many times after confirming their award.