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STEPS TO A SUCCESSFUL CLOSING
According to a recent report, approximately 80% of homeowners found the closing process confusing. Often, homeowners are so busy preparing their home for sale, they don't even think about the closing process.
Once the purchase and sale agreements have been signed, there are several steps to take to get the transaction closed:
Step 1 - Removing contingencies: The most common contingencies are financing, inspections and the sale of the buyer’s current home. These conditions must be removed or waived before the sale can close.
Step 2 - Appraising the property: The buyer's lender requires a formal appraisal to confirm the value of the home, to be used as collateral to secure the loan.
Step 3 – Ordering Township Inspections, Mortgage payoffs, and Title reports.
Step 4 – Preparing closing documents: Most often Title Insurance Companies prepare documents that confirm the transaction, pro-rate funds, and so on.
Step 6 - Recording the deed and disbursing funds.
Step 7 - Receiving the proceeds and welcoming the moving van.
Step 8 - Turning over the keys to the buyer. There are many opportunities for surprises or delays in a transaction. Part of my expertise is in troubleshooting problems that arise in the closing process and Envirian’s proprietary Closing Tracker System helps identify when problems arise quicker than any other system in the industry. Please email or call me if you have any questions or you would like more information. I am happy to help in any way that I can.
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