Ten Steps to a Smooth Real Estate Sales Closing
- Ensure all Sales Agreement/Earnest Money Agreement Addenda are submitted to escrow officer as soon as possible.
- Email any invoices for repairs (supplies and/or labor) or any other items to escrow as soon as possible. Make a note as to who is responsible for paying the bill fit’s not always the seller).
- If unable to deliver addenda or invoices, call and advise escrow of any significant changes or information.
- Fax or deliver rent rolls and/or copies of rental agreements or leases on investment property to escrow as soon as possible (if buyer is assuming responsibility for the tenant(s) and will be receiving rents and deposits through closing).
- Keep the lender in the loop (if you represent the buyer). Make sure the lender has received all addenda (or is aware of all seller concessions, changes in closing date, etc.)
- Advise in advance if your client will be using a Power of Attorney. Powers of attorney must be approved in advance by the title company (and the lender if a buyer intends to use a power of Attorney). The original Signed Power of Attorney must be recorded in the public records.
- Advise in advance if your clients have any special needs (physical limitations, time constraints, location constraints, special life circumstances. etc.)
- Advise in advance if a mobile signing may be necessary at another of our offices.
- Be sure to provide accurate phone numbers and mailing addresses for your clients when the escrow is opened (especially on investment properties).
- Encourage your clients to respond to any requests for information from the escrow officer. A lack of requested information such as new lender. loan payoff Information and insurance agent can delay clOSing.