Since I am a real estate attorney in Masscsuetts, a state where attorneys still rune the Closing "show", I keep trying to reinvent myself as a person not to be feared but listened to and respected. Buyers come to one of my three offices (we have three so it is geographically convenient for the Buyer) and they are instantly afraid of me. Here is this guy who stands between my family's ability to buy my home, and he has a lot more experience at this than I do.
So, one of my early objectives is to establish some thread of familiarity with the Buyer which will make him, her or them more comfortable. I start with the completed Mortgage Loan Application, which must be re-signed at the Closing. This 1003 has a plethora of information. Where the Borrower works, what he or she does, how many children they have, and other type of vital facts. I try to latch on to any of these facts, and start a conversation. "Oh, you are a nurse, my sister-in-law is a nurse." "Oh, you have three children, I have four children." Something, anything, which lets the Buyer know that I am a human being.
Once I have the Buyer's TRUST, the rest is easy. I put documents in front of the Buyer, explain tham if requested, and get the Closing completed.
After the closing is completed, I use my digital camera to take pictures of the Buyers, almost always with their Buyer's Agent, and then I give my little "Sermon on the Mount"
I tell the Buyers that not only do I do Closings, but I also do foreclosures. I give them anecdotal information that if, in the future, their fortunes changes, and they lose their jobs, or get sick, the very first person they should inform is the Lender. I tell them to inundate the Lender with information about the problem. I tell tham that most Lenders view foreclosure as the ultimate remedy, and one to be avoided at all costs. Once Lenders have your information, and the prognosis for improvement, they may work with you. I have found this to be the case; the majority of foreclosures taking place when Borrowers use the "ostrich approach" and never communicate with the Lender.
This is the way I conduct a Closing, and I am constantly looking for ways to improve my presentation. I view the Closing as an opportunity to assist and impress. i would be interested in hearing any techniques or approaches that you have seen at Closings that I can add to my repertoire.
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