Closing

  1. How will I receive the Seller signed documents?
  2. Will the buyer be required to use the seller's title company?
  3. What happens if the closing is delayed?
  4. How do we get the keys to the property?
  5. Why do I have to return the weekly faxes to you?
  6. What is a "dry" closing?

How will I receive the Seller signed documents ?

When the offer desk receives the seller signed documents they will be faxed directly to you. The cover sheet will give you the seller title company information. It is important that you call them immediately to avoid delays in the closing.

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Will the buyer be required to use the seller's title company ?

No, it is not required. However, some title company charge a fee. The seller title company MUST be part of the closing. So alert your buyers loan officer and buyer title company immediately to avoid any delays in closing

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What happens if the closing is delayed?

The offer desk faxes you a weekly reminder regarding the closing. If you call the sellers title company and they indicate a delay in the closing, you need to send a request for extension over 3 days prior to closing. If the delay is a sellers delay then no per diem will be charged.

However, if you call the buyer loan officer and they indicate there will be a delay, you must send over an extension request and the buyer will be charged the per diem.

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How do I get the keys to the property?

The lockbox and sign will remain on the property until the day after the closing.  You as the agent may pick the key up for the buyer as we may not be at the closing. It is important that you do NOT give out the lockbox combination to the buyer. Please ask them to leave the lockbox and sign at the property so it can be picked up. It is also a good idea to have the buyer change the locks, following closing.

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Why do I have to return the weekly reminder faxes?

This fax is sent out to remind you to contact the seller title company and keep the closing on track. It includes the contact and phone number. If you can take a quick minute to fax it back to us with your notes we can follow up on our end. This way everyone wins and we get to the closing and payday faster!

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What is a dry closing?

Most of the seller's are out of the Cincinnati area. Therefore documents have to be faxed, emailed prior to signing. The title company may not be able to release funds until the seller has signed off on all the documents. The title company will work with you to get your commission check to you in a timely manner.

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