Closing Day of a Real Estate Transaction, is it a good day for surprises? How can surprises be eliminated. Simply with communication. Communication with the lender, the title company, the Realtors, and the buyer and seller. I have a closing in 11 hours. The surprises were yesterday, not today. I was on the phone all day. First with the lender and title company to get the settlement amount that the buyers needed to have in a bank check at closing. It turns out that the buyer's funds were in an out of state bank, no they can't write a check. The funds needed to be wired to their local bank account. One bullet dodged.
Next, while reviewing the HUD 1, there were two sellers' names? This was a sale after probate. The estates executor has been signing everything up to this point. I questioned why there were two names on the HUD. The title company checked with their underwriters and we found out that when the probate was discharged, the judge put the Real Estate in both of the heirs' names. The other heir resides in North Carolina. There is no way to get her here in time for the closing at 1:00pm. It was late in the day, but we had just enough time to email the documents to the other heir and she could sign them and FEDEX them back to use before noon.
Communication and follow up. That is how to side step surprises.
This businesss is never boring.
If everything is ok.....then why am I still awake. Must be the caffeine.
Call Mark Horan "The Resident Chef" for surprise free Kissimmee and Saint Cloud, Florida Real Estate Transactions. 407-301-0312
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