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Buying a home can be chock full of complications and setbacks, or it can go remarkably smooth and fast if it is planned carefully. The Realtor needs to stay focused and be the voice of reason as they facilitate the process at closing and make sure all parties have completed all unfinished business prior to coming to the “closing table”. Here’s a quick list that Realtors can use to ensure a smooth closing.
Repairs: The Realtor should check on the status of all repairs that were to be made on the home the day before closing. If there was an agreement that something needed to be fixed by closing, make sure that it is. If there was an arrangement for repairs to be taken care of after closing, make sure all the necessary paperwork shows this as fact. A final walk-through should be done with the buyers. The sellers should make sure, with their Realtor, that the property is in the condition promised and all of their personal items are removed.
Title Insurance: All of the title work should be checked to ensure clear title and that the property can be transferred without any obstructions. Should there be any title issues that might include judgments or liens, they must be settled prior to the hour of closing. The moment of truth in a real estate transaction happens at the closing table. Title First Agency will work hard to ensure a seamless experience for you and your clients. From contract to closing, we handle all the details to help a transaction run smoothly and close on time.
Financing: The lender should be contacted the day before the closing to be certain that all the documents they need have been received. Occasionally, the closing is delayed due to one document or one final verification. The interest rate for the loan should be locked as well as the final mortgage and monthly payments. The Realtor should make sure the buyer has all the funds available and ready to close. Having everything in hand the day before gives both the buyer and the seller 24 hours to review everything and have any questions ready, errors noticed or points not understood addressed.
The Bottom Line: A thorough Realtor will make sure the buyers are ready for the closing. First-time buyers may not realize all the people that could possibly be at the closing table, and all the paperwork there will be that needs their signature. The buyer needs a cashier’s check or arrangments made to wire the closing funds to the escrow company. The seller should bring all the keys, garage door openers, alarm codes and any other controls to the settlement. The Realtor should make sure and confirm that all utilities have been disconnected by the sellers and set up ready for the buyers upon closing.