How We Can Help

For Buyers

Whether it’s your first time buying property or you’ve bought and sold over the years these instructions should be helpful in navigating your way through the complex process of closing a purchase of real estate: 

I.     Pre-Closing. While the closing itself is very important, much of the work on a real estate closing happens during the pre-closing phase and a lot of it is done behind the scenes, so to speak.  This is the period of time when communication between the client, attorney, lender, and real estate agent, if any, is essential. 

A. Contract and Attorney Approval: After we have completed a thorough review of the written contract, our office will suggest modifications or changes to the contract language.  We will also use this opportunity to request repairs or credits based on the results of the Professional Home Inspection that is permitted under most real estate contracts. 

B. The Mortgage Contingency Phase: If the buyers are utilizing mortgage financing to complete their purchase of the property, most real estate contracts will include a “mortgage contingency” which provides additional time after acceptance of the contract for the buyers to complete the loan application and approval process.   That time period varies depending on the contract, but typically it takes 30-45 days to obtain full loan approval.

C. Cash Transactions:  If the buyer is purchasing with cash or the parties have agreed to exclude a mortgage contingency, then the contract is fully locked in at the time of the completion of attorney approval.   At this time, both parties are obligated to close the transaction or they could be found in breach of contract.   If you need a mortgage loan to purchase the property but are choosing to waive or delete any mortgage contingency from the real estate contract please call us first to discuss the possible issues and liability of undertaking such a risk.

D. Prepare for closing:   Once the buyer obtains a clear-to-close loan commitment or the buyer is purchasing with cash our office will formally schedule the closing.   For most transactions, buyers must attend the closing to comply with mortgage company guidelines.   The closing usually takes place at a local title insurance company office.   Our office will provide all information necessary for closing in addition to instructing the buyer on how to bring any funds for a downpayment or closing costs to the closing.    (Please note:  Wire transfer fraud is on the rise,  please be sure to talk with us before wiring any funds to close.)

Wire fraud and email hacking/phishing attacks are on the increase! OUR OFFICE DOES NOT SEND WIRE INSTRUCTIONS OVER EMAIL, EVER. If you have an escrow or closing transaction with us and you receive an email containing Wire Transfer Instructions, DO NOT RESPOND TO THE EMAIL! Instead, call our office or your escrow officer/closer immediately, using previously known contact information and NOT information provided in the email, to verify the information prior to sending funds.   

E. The Closing Meeting:

  1. The closing meeting typically takes between 1-3 hours to complete, depending on the transaction complexity and the requirements of the mortgage lender involved in the transaction.

  2. I attend all purchase closings and will explain to the Buyers all mortgage documents that they will need to sign and educate them on the obligations and practicalities of having and paying a monthly mortgage payment.   

  3. Additionally, I will review all title transfer documents to confirm that the buyer is taking clean title to the property and will receive an acceptable and clean title insurance policy.  

For Sellers

II.  Pre-Closing.  While the closing itself is very important, much of the work on a real estate closing happens during the pre-closing phase and a lot of it is done behind the scenes, so to speak.  This is the period of time when communication between the client, attorney Buyer’s bank/lender, and real estate agent, if any, is essential. 

A. Contract and Attorney Approval:   After we have completed a thorough review of the written contract, our office will suggest modifications or changes to the contract language.    Additionally, the buyer’s attorney will provide a request for modifications and repairs in writing.  We will discuss all of the Buyer’s requests, propose proper responses, and negotiate these terms until the parties can reach an agreement regarding contract terms and repair issues.  

B.  Prepare for Closing: At this time our office will begin preparations for closing.  As Seller, it is generally your obligation to provide clean and marketable title to the Buyer and to make sure that there are no adverse liens or claims on the title to your property.   Our office will take care of all of the steps necessary to provide a clean title at the closing table.

  1. Our office will order the appropriate title documents including a title search and title commitment that are necessary in order to close the transaction. 
  2. We will work with the condo/townhome owners’ associations to provide all of the necessary disclosure documents to the buyer and to provide the necessary closing releases and documents for the transfer of title. 
  3. We will also work with and coordinate with the local City or Village where the property is located to comply with their transfer requirements and possible inspections and real estate transfer tax statute.    
  4. Upon receipt of the title search, we will work to clear any unacceptable clouds on the title and will order any documents necessary to clear the title on the property for closing.  This will include the necessary loan payoffs, tax redemptions, or additional City/Village requirements.  
  5. All municipalities also require that water and sewer bills be paid prior to closing.  We will work with you to obtain all necessary final water and sewer bills.  
  6. If your property is a fee simple townhome, a single-family home, a multi-unit building, or a vacant lot, a Plat of Survey will be required.   Surveys cannot be older than six (6) months, so unless you have a new survey,  a new one will need to be ordered.  We will order the appropriate survey for your closing.  
  7. Our office will also act as a conduit between all of the parties to be sure that the buyer, buyer’s lender, real estate agents, and any other interested parties have all documents and information necessary to make the closing process as smooth as possible.  
  8. Once the buyer is ready to close and their lender, if applicable, has issued a clear-to-close loan approval, we will begin preparing the necessary closing documents.   There are a number of important documents necessary to transfer title and we will prepare them all in a professional and accurate manner.  
  9. Once all documents are prepared, we will coordinate with the Sellers to have all documents signed and notarized.  (All transfer documents require notarization.  We have notaries in the office to provide these services at no additional cost.)  
  10. For the preparation of closing, you will need to provide wire transfer instructions so that we can have the title company wire transfer the proceeds of your sale to you once the transaction is completed. 

PLEASE NOTE, WE DO NOT ACCEPT WIRE TRANSFER INSTRUCTIONS BY EMAIL. 

Wire fraud and email hacking/phishing attacks are on the increase! OUR OFFICE DOES NOT SEND WIRE INSTRUCTIONS OVER EMAIL, EVER. If you have an escrow or closing transaction with us and you receive an email containing Wire Transfer Instructions, DO NOT RESPOND TO THE EMAIL! Instead, call our office or your escrow officer/closer immediately, using previously known contact information and NOT information provided in the email, to verify the information prior to sending funds.   

We will work with you to make sure that accurate wire information is provided to the title company and that your proceeds arrive in your bank account safely and securely. 

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 We feel that professionalism, education, communication and excellent customer service is at the cornerstone of our longevity and success in the complex world of Real Estate. 

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