The ELEVEN!! tips for smooth closings for sales:

1. When you fax your title order, make sure you fax a CLEAN copy of the contract.? This may require enlarging a contract before faxing, but many times we receive illegible contracts due to being faxed back and forth between parties or copied.? We need a copy we can read!
2. Get lender information from your buyers as soon as possible.? Having the contact information for the lender (name and phone at least!) makes it easier for us to help you work with the lender directly to prepare for closing.
3. Sellers Agents?Please fill out and return the Closing/Seller Information sheet we will fax to you as soon as possible?this sheet verifies information such as concessions, commissions, authorizes us to order a payoff, and may other important considerations.
4. FAX INVOICES OVER AS SOON AS YOU RECEIVE THEM!!? The closing table is not the best place to bring invoices.? Just fax them over to us when you get them, or call or email with the amounts and what the invoices are for.? Getting them to us prior to closing (At least the night before!) allows for it to appear on the HUD.
5. Discuss with first time home buyers or others inexperienced with the closing paperwork about the process, about the number of documents they may need to sign--Help them to understand the process without scaring them!!? People who arrive at the table having discussed what to expect at closing are much more comfortable.? If you have a first time home buyer or someone who is nervous, let us know!? We actually have sample loan documents that we can let them review to get familiar with what they may see at closing.
6. Issues surrounding the transaction should be disclosed when you order title?by letting us know if there is a probate issue, or any other recording or chain of title issue up front allows us to figure out legitimate ways to get your deal closed.? Most issues we CAN INSURE OVER.? Knowing about them up front will help us make decisions concerning how to proceed more quickly.
7. Recording your clients deed ?in Maryland, Virginia or DC can take much more time than in West Virginia, but keep in mind, even in WVA the courts do get backed up, which can mean your deed may not record sometimes for several weeks, depending.? Contact us or the Court for the county the property is located in to find out exactly how far behind they are in recordings.
8. Owners Title Insurance:? In MD and VA is automatically added unless requested otherwise in writing.? In WVA a verbal refusal is enough to have it removed.? However, it is important to understand the benefits of Owners Policies when discussing this with clients.? If your client has questions, feel free to have them call us directly.
9. At the Table your clients may have questions.? Feel free to answer any question your client has at closing.? Remember, your client trusts you and probably is meeting us for the first time!!? We will never mind if you help your client to understand any question at the closing table!!? Lets make it a fun time for everybody involved!? Remember, overall, the sale of a home is a joyful event for the seller and the buyer?not to mention the fact that they are relived that its over!!
10. Sellers should follow up on their payoffs!? Just like with a refinance or any other transaction where a mortgage is being paid off, the seller should call their old lender one week after closing to verify that the old mortgage is paid off, if they have not received a release.? UPS, FED Ex, and USPS Priority Overnight are the modes payoffs are sent, always trackable, and always overnight.? However, what most people don?t realize is that there can be a window between dropping a package at a delivery location and that package being scanned.? The other ?vulnerable? spot is when the check reaches the mortgage company.? From the time it gets there till the transaction is posted is usually about 1-2 business days.? Where do you think that check is during that time??? In the hands of humans, who do make mistakes!!?
11. Make sure your clients who request non escrow loans understand?they are responsible to pay all property taxes.? Failure to pay can result in a deed not being accepted in many states and counties.