It takes more than luck to have a successful real estate closing.
These are our top 5 tips for making your next closing go smoothly.
- Money, Money, Money, Money – Make buyers aware that funds brought to closing must be in the form of a wire or cashier’s check. Title companies cannot accept personal checks.
- Identification – Buyers need to bring two forms of identification. Examples include: Valid Drivers License, Company ID Badge, Passport, etc.
- Keep Lines of Communication Open – Communicate the details throughout the transaction with all parties. Communicate special situations involving estates or divorces with the title company at the time you send the PSA.
- Know the Value – Understand the value of title insurance. Don’t discourage a buyer from purchasing an Owners Title Insurance policy or suggest that the Lenders coverage is optional.
- Review Before Closing – Review the closing statement with your client(s) BEFORE the closing and ask for clarification. Specifically, review the commissions and any invoices (repairs, pest inspections, home warranties) that are part of the closing.
As a trusted title company, Melrose has a team in place who understands the ups and downs that different issues and situations can cause. When it matters most (and doesn’t it always matter?), choose Melrose Title!