Preparing Your Clients for Closing

As you well know, buying a home is a huge deal for people, whether a first-time buyer or a seasoned home buying pro. Preparing your clients for what to expect throughout the process lends to a smoother settlement and a more accurate expectation for what’s to come.

Tips for Ensuring Client Preparedness

  1. Provide an overview of the process, especially for first-time home buyers. People like to know what’s going to happen (or at least have a general idea). Though you’ve been through it numerous times before, your clients likely haven’t. Give them a virtual or mental walk-through of the settlement process so they can gear up for the big event.
  1. Have them keep an eye out for the closing disclosure form from the lender. Kindly remind (or inform) your clients to watch for this item in the mail, so they may have an accurate idea of the financials of the transaction.
  1. Ensure your clients know the amount of money they’ll need to bring to the closing table. This is a follow-up to the previous tip. In the event they don’t take the time to review the lender’s CD, it’s a good idea to prompt them to do so or review it with them.
  1. Help them schedule a closing time with the settlement agent. Whether you take on this task or they do, make certain all parties are privy to that much anticipated time slot.
  1. Submit home warranty, repair or termite contracts on time. Stress the importance of getting any relevant invoices to the title agent no later than 48 hours prior to closing. This way, these documents can be added to the disclosure form and handled appropriately to facilitate a smooth settlement process.
  1. Put yourself in their shoes. Ask them if they have any specific questions about the closing process. (This may require some prompting, if your clients seem unsure.) What information would you want to know? It’s also prudent to give realistic expectations if bumps along the road may delay settlement.

For further details on preparing your clients for the closing process, contact Linear Title & Escrow at (757) 340-0340 today.


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