Clear Close – Tip #1

Posted: March 6, 2008 in General, Virtual Assistant
Tags: , ,

I want to start a series on things that can hang up a closing. There are SO many steps involved in a transaction. It’s really quite unbelievable. And the scary thing is that most agents skip (intentionally or unintentionally) many of the steps necessary. These missed steps could very well come back and bite the agent in the hind quarters in the form of a lawsuit.

Nooooooooooooo There are already enough deductions from a typical commission without having to look over your shoulder for TREC. And how many of us have resesntments at the amount that good ‘ol Uncle Sam steals from us?

Not long ago I spoke about resale docs and how they can hold up a closing. And it never ceases to amaze me how many agents have absolutely no idea about that escape clause for a buyer. I don’t need to rehash this topic. If you missed that one – go HERE.

The HOA docs are but one of a myriad of ways that a closing can get held up. In my action plan for transactions there are over 30 checklist items that are followed. This checklist is just a skeleton of the essentials. For instance, ordering the HOA docs, requesting or providing a survey, sending a signed Amendment by the end of the option period, a buyer not meeting conditions of the Lender, a contract being written incorrectly…on and on it goes.

So in this series I’m going to go over a bunch of the details that may get missed. I am hoping that it will encourage agents to pay closer attention; or it may make them aware of something that they didn’t even know about. I am also hoping that someone may respond with a detail that I have missed. Edification and refinement – that’s the goal!

Have a super day!

Dustin Curlee

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