Do you hear that? No? Perfect! Your buyers and or sellers are not calling you over and over again to see if you have heard anything from Escrow? Why? It is because I have already contact them to see if they are interested in a Pre Closing, Closing. There are so many new people buying and selling properties, that it only makes sense to see if they want to go over the process of their closing early.
Imagine...A Pre Closing appointment with escrow.
I will be contacting you first to confirm that you are in the loop of the discussions, if you would like to be and then I will be contacting the customer to go over the process.
Here are a few of the things that will help take the mystery out of "closing":
- What is closing? Isn't that when we sign papers? No, not in this state. In the great State of Washington, closing is defined as the date the documents are recorded and funds available to the seller.
- How much money will be required to close? The buyers Good Faith Estimate is the best figure that they will have before their loan documents are drawn and deposited to escrow.
- In what form should the funds be in? Washington State is a collected fund state, so a wire transfer is generally best, although most cashiers checks work fine too.
- Who should the check be payable to? (Booth Escrow, LLC is the correct answer)
- What else is needed to bring in to the signing? We will discuss the need for pictured identification (drivers license) and I will discuss with the sellers their need to bring in their taxpayer ID as well as a voided check or wire instructions so I can get their proceeds out as quickly as possible.
- How would they like their copies? Paper or on a read only CD? The CD has become a very popular choice.
- When will the proceeds be available? Upon recording is the correct answer. If the sellers want their funds wired, I will ask that them to keep in mind that my outgoing wire cut off time is 2 p.m., so if the recording numbers come in later than that, they will have their funds the next business day.
- What time, day and location would they prefer to sign their documents? I do my very best to make it as comfortable and convenient to the customer as possible.
This small service has really created better relationships all the way around and we have much calmer, happier customers.
Julie
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