Special offer

How do you pick closing dates?

By
Real Estate Agent with RETIRED 200305001

In Oregon we use Escrow company's that collect the money and record the transfer with the County. Then the proceeds are divided and paid out. this would include Title fees back taxes, commissions and anything else to make a clear title before giving the Seller their proceeds.

After signing it usually records the same day if its CASH and a day or so later if its a LOAN that may have to go back for final underwriting.

I have learned after a few years to NOT pick a Friday. I pick Wednesdays. If it has a hiccup it gives us a couple more days before the weekend to record with the county. That's when the Buyers can have the keys. Most want it for a weekend move.

I understand that in parts of the U.S, Attorneys show up with Buyers and Sellers at the same table and money is pushed over and keys are pushed back, not here. In fact Attorneys are not used and Buyers and Sellers do not sit at the table at the same time. How do you pick your closing dates?

Posted by

 

google plus

 

Rob Shepherd -  ABR, GRI, REALTORS® for Florence Oregon Real Estate
Expert in helping those buy or sell Florence Oregon property and retire in Oregon. Call me anytime or visit my website for local listings and information on Florence Oregon.
Email: mr.listit@gmail.com 541-991-0607

Comments (23)

Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I choose based on lots of things... the client's desires, the loan officer's requirements and close to end of the month if it's a buyer who is close on funds to keep them from having to pay a lot of pre-paid interest at the time of closing.

Apr 16, 2015 06:35 AM
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

I try to avoid Friday's and Monday's as well as the last three days of the month if possible.

Apr 17, 2015 12:46 AM
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Rob, I too try to avoid Mondays and Fridays.  I also try not to pick closing dates on the last couple of days of the month, title companies tend to be swamped during those times. 

Apr 18, 2015 10:08 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I don't like Friday afternoons as so much can go wrong. I do like your pick of Wednesdays as there are still 2 more days to straighten any issues out.

Apr 19, 2015 03:25 AM
Robert Vegas Bob Swetz
Las Vegas, NV

Hello Rob ... and over the years I have learned that Mondays, Tues & Wed are all good days. And closing around the begging of each month ;o)

Apr 19, 2015 05:54 AM
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

Hi Rob, I let the client choose their closing date. The end of the month is hard at Chicago Title where we usually go but it's up to them, all customer service.

Apr 19, 2015 01:25 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I like your thinking, i never choose Monday or Friday and stay away form the 1st, 30th or 31st. Here in Nh when we sit at the closing time, it is uuslaly recorded the same day. 

Apr 19, 2015 10:45 PM
Sham Reddy CRS
Howard Hanna RE Services, Dayton, OH - Dayton, OH
CRS

Its the buyers that have the most say along with their lenders.  Sellers and the respective real estsate agents just play along.  That's how I choose it.

Apr 20, 2015 08:50 PM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Here is something about a closing day: the closing scheduled for tomorrow, it is a short sale. The buyer or his agent are not really bothered about that. We pulled two more days out of Nationstar , so today buyer had to meet a notary to sign documents. Yet, he was not able today........cz of some sport game. If he does not sign tomorrow morning, we are done......btw, he is about to loose about 27k.~ yet, seems he does not really worry.

Apr 21, 2015 05:31 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Great points Rick.  I also like to choose a date not to close to the end of the month, as many title companies and attorneys are to busy and mistakes are more apt to happen.

Apr 22, 2015 09:26 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

I used to have a good handle on closing dates, these days not so much. To many things come into play at the end of the loan approval process.

Apr 23, 2015 08:50 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Rob, interesting how different things are across the Country.   We fund at the table, closing day is funding day. 

Apr 25, 2015 11:41 PM
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Rob D. Shepherd , I start with 30 to 45 days out, depending on the buyers and sellers positions,  then there is the Lender.  There are many times you just put down 30 days and make adjustments along the way.

May 06, 2015 12:14 PM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

We usually write into a contract 30 days after accepting( if a loan), so, the escrow counts that way. I would not suggest to pick Monday/Tuesday, though.

May 16, 2015 04:54 PM
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

Depending on how the place is being paid for (loan or cash), I decide how many days we will need. I never close on a Monday or a Friday if I can help it and never on the last day of the month!

May 20, 2015 07:10 AM
Lisa Von Domek
Lisa Von Domek Team - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Hello Rob,

Partly dictated by the type of loan and number of days needed but I like Thursdays and usually choose a day between the 20th and the 25th of the month...and the lenders and title companies that I use love me for this! 

May 23, 2015 02:14 PM
1~Judi Barrett
Integrity Real Estate Services 116 SE AVE N, Idabel, OK 74745 - Idabel, OK
BS Ed, Integrity Real Estate Services -IDABEL OK

When I set a closing date "On or Before" in a contract, I avoid Mondays and Fridays.  We do not close on week-ends.. title company is closed. 

May 24, 2015 08:50 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I was just working on an offer and it is an out of state buyer, i didnt realize the difference in closings in different parts of the country, here in NH when we close it is closed. While some closings are held right at the registry of deed somewhere they record the deed on the spot, many title companies courier the deed and docs to be recorded from closing right to the registry, they have gap insurance if any liens are recorded from signing time til they get physically there to record it. When they sign, buyer gets keys and seller gets paid,. 

May 28, 2015 01:37 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I do the same Rob D. Shepherd and our escrow works the same as yours including the hiccups!

Jun 14, 2015 04:42 AM
Debb Janes
Nature As Neighbors - Camas, WA
Put My Love of Nature At Work for You

Smart you - Fridays can often mean delays and frustrated buyers who lose the weekend to move things. Monday's aren't fun days to start moving into a home. D 

Jun 15, 2015 06:24 AM