- Be sure the contract is signed and intialed by all parties on all pages.
- Verify that all necessary disclosures have been given to the buyer and the seller.
- Be sure contigencies in the contract are worded correctly.
- Contact the attorney or escrow/title company as soon as the property is under contract.
- Get deposit or "good faith money" to the closing agent or have it deposited into the broker's escrow account.
- Be clear with the attorney about who will take care of what responsibilities.
- Communicate as much information as possible to the attorney or closing agent to avoid any ambiguity.
- Follow the time limit for home and termite inspections, getting signed approval from the buyer.
- Assist the buyer in finding financing and be certain the buyer has applied within the time limit set in the contract.
- Work with the escrow/closing officer to get the title commitment or title report distributed to all parties.
- Obtain the seller's existing mortgage account number and lender information as soon as possible and give this information to the escrow/closing officer.
- Fax the closing information to the attorney or closing agent as soon as it is available. (When contacting the attorney or escrow officer to ask questions or supply information, ask to speak to their assistant or secretary if they are busy. The secretary is often very useful in conveying information about the closing to the attorney and can respond to questions promptly.)
- Obtain previous title insurance policy information as soon as contract is signed. Convey this information to the closing agent or attorney. Previous title policies save the attorney title search time and may save the buyer money on the new policy.
- Obtain previous curvey information as soon as contract is signed to convey to the attorney. (Updating an existing survey can save time and money.)
- Explain to the buyer that hazard/homeowner's insurance will be required at closing. Determine which insurance company buyer intends to use.
- If the lender will be collecting escrow funds for insurance, it is necessary to provide this information to the escrow/closing officer.
- Follow up so that the insurance agent gets the binder or policy to the escrow/closing officer or attorney prior to closing.
- Deal with all issues regarding the closing as soon as they are raised. This will avoid delays at closing.
- Perform final walk-through with the buyer. Write down any concerns or items needing repair.
- Reconfirm closing day and time with the closing agent and with the buyer and the seller.
- Review the final HUD-1 statement with the buyer and the seller before the closing.
- Be sure the buyer has a certified check for closing funds or has made arrangements to wire money to the title company or closing agent.
If you have any questions or comments you can call me at 850-269-1369 or email me at Info@SoldByLaurie.com.
Laurie Hollowell-Meeker
Keller Williams Realty Emerald Coast
151 Regions Way Ste 4A
Destin, Florida 32541
GRI, CRS, e-Pro
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