Contract to Closing
It’s both exciting and stressful to negotiate a real estate purchase contract and transaction. Once the contract is signed by the sellers, buyers can relax a bit, but I can’t. There are still more negotiations, document deliveries, inspections, title details and mortgage tasks to be accomplished to reach a successful closing when you can walk away with the keys to your new house.
There are more than 50 specific due dates and tasks on an average transaction checklist. Here are just a few of them:
- Post contract delivery of documents to the title company and ordering of a title binder or commitment.
- Deposit of earnest money and delivery of receipt to the buyer client.
- Helping buyers to order inspections and coordinating them and providing access to assure they’re completed on time.
- Coordinating timely delivery of any documents objecting to disclosures, inspection results, or title binder issues discovered.
- Coordinating appraisal and appraiser access.
- Working with mortgage company and coordinating delivery of documents they require.
- Assisting my buyers with any negotiations related to contingencies, inspections or documents.
- Constant monitoring of status of all processes at the title company.
There are a number of companies and people involved in a real estate transaction, including attorneys, surveyors, appraiser, title company, mortgage broker, lender, loan underwriter, both agents, to name just a few. Each has specific duties and requirements, and each is concentrating on doing a good job for you. However, their focus is narrowly targeted to their specific niche in the deal. As your buyer agent, I'm your “go-to” resource to bring it all together. I'm here to coordinate the activities of all of these companies and people so your stress level is minimized.
I'm constantly monitoring those 50+ document delivery items and the work done by these people. The progress is checked on a daily basis against contractual deadlines. I take action on each and every project requirement. A lot of this activity goes on behind the scenes. When your involvement is unnecessary, you’re usually not aware it's happening. Some of it requires that we contact you and request documents or actions. Please understand that my overriding goal is a smooth transaction, and getting you through meeting all deadlines is one of my jobs. I’ll only bother you when necessary, telling you what I need and when, as I move you through to a successful closing.