Speaking with great affection to the Real Estate Professionals out there ~ from the Settlement Perspective: 

If you want your closing to go as smoothly as possible for everyone...make sure to provide as much information as possible on the Purchase and Sale Contract!!  Here are some helpful reminders:

1.  If your contract is handwritten, write clearly...better yet, print.  (Generations of faxing degrade the quality of the type enough...do your part to make sure the title company can read the names of all parties, including the realtor name and real estate company name.)

2.  Include marital status(es) with the Seller's and Buyer's name(s).  (In Florida, spouses need to sign the deed/ mortgage even if they aren't in title by name....Homestead Laws)- more information the title company needs!

3.  Be sure to fill in the effective date of your contract!  Many aspects of the transaction are dependent on and triggered by that date! The title company may need that date!

4.  If you need to add terms or conditions, ask another realtor, your title company, or an attorney to review before getting it signed by the parties (if possible).  Two sets of eyes are always better than one.  For example, "The closing of the buyer's house located at 123 Main Street"  is totally different from "The closing and funding of the buyer's house located at 123 Main Street".  Or, "Seller agrees to credit the buyer up to 6% of the sales price for buyer's closing costs" is totally different than "Seller agrees to credit the buyer up to 6% of the sales price for buyer's closing costs and prepaid items"

5.  Fill in the Parcel ID Number.  It helps verify that the correct property is searched and the bank package comes in with the correct address. 

These few things will help get the closing process off on the right foot and will help avoid many of the more common issues/delays/complaints that can come up. 

Okay, now go out there and Sell, Sell, Sell !!!!

 
This post has been included in Florida Information Broward County, FL Information
Post is included in group: Mortgage Bankers

8 Comments on Want Your Closing To Go Smoother????

Hi Laurie -- I gave your post a 5!  Please who ever monitors this site, make this a featured blog.  As a loan office all I can say is Amen Laurie espically item 4.  That is why, when ever I get a contract I email all parties and say thi sis how I am reading it do you all agree.  It is so unprofessional to get to closing and have some one say "well that's not what I meant"  Thanks for a great post.  Aloha

07/26/2007 06:08 PM by Bruce Bourgault, Vice President, Mpro (Central Pacific Home Loans)


Wow, thanks Bruce!  I have been doing this a while now, and it is always so much more professional (and enjoyable for all) when things are done right the first time!  Everything works like clockwork!  Thanks again for the kind words.

07/26/2007 06:12 PM by Laurie Planamento ~ Your Florida Title Partner~ (Premier Guaranty Title & Trust, Inc.)


And don't forget to add the simple things like full property address (including zip code) as everyone who processes the contract needs that information. If it is not there, they might need more time to dig it up or even have to call you for it (wasting your time).

08/01/2007 06:00 AM by Century 21 First Realty


Joe - excellent addition -thanks!  (Please excuse the delay in answering you). What is the saying, "It's all in the details"?  Thanks for stopping by.

09/08/2007 09:13 AM by Laurie Planamento ~ Your Florida Title Partner~ (Premier Guaranty Title & Trust, Inc.)


Good points. These things do make a difference. Handwriting, handwriting, handwriting. ha.

08/11/2008 02:15 PM by Stacy Jones (West Little Rock Title Company)


Isn't it true?  It always comes down to the basics!  Thanks for stopping by Stacy!

08/12/2008 10:41 PM by


When I order a title search on a purchase, I always try to provide the title company with AS MUCH INFORMATION AS POSSIBLE.  There is nothing worse than surprises at closing!

08/13/2008 07:45 PM by AMY SHRADER (SUNTRUST MORTGAGE)


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Title Company: Laurie Planamento ~ Your Florida Title Partner~ (Premier Guaranty Title & Trust, Inc.)
Laurie Planamento ~ Your Florida Title Partner~
Plantation, FL
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