The time has come to either meet at the Title Company or in your office and finalize the transaction you have been working so hard on. With so much emotion riding on a closing with your clients, their families and the chaos that inhibits the process; you want it to go well – not only in order to secure your commission; but also to provide excellent service to your customer. Here are five tips to ensure a smooth closing.
Before you submit your order, ask your customer if there has been a recent divorce, death, or other situation that would affect title to property. If so, inform your title agent immediate andask client for copy of death certificate or divorce defense. Quick turnaround time from your start to closing depends on accurate information. It is vital for the title insurance company to have this information well ahead of time so they can properly prepare their documents.
When working with your buyer/borrower, if a power attorney is to be used at closing; the title company will need to review it as soon as possible. In addition; the escrow officer may need to speak with the principals listed on the power of attorney on the day of closing.Inform the closer of any special arrangements that may be required for closing. The signatures of all parties are necessary in order to close. Therefore; if someone is unable to attend, we will need to make appropriate accommodations.
If an appraisal fee or hazard insurance is required on the closing instructions, please provide all invoices at scheduling that World Wide is to pay. Furthermore, mortgage brokers, you should be clear with your Lenders to whom a fee is to be paid. For instance, if Line – Appraisal Fee is to be paid to XYZ Appraisal, Corp., then be sure to have your lender identify such instead of your company as the payee.
Finally, be sure your customer has “bank funds” for the closing. “Bank funds” meaning, a cashier‘s check or money order for buyers/borrowers funds owed at closing made payable to “World Wide Land Transfer, Inc.”