The finish line is in sight, and the hard work is almost over! You helped your clients find the perfect home in the perfect neighborhood at the perfect price. And now that the contract is signed, the closing starts. Do your clients know what’s coming for the next 30-90 days? Here is a quick list to give your home buyers the confidence they need going in to the closing.
- Introduce Them to Anyone They Need to Know
You’ve done a lot of the heavy lifting up to this point. Now, let your clients know the folks they’ll be meeting next, especially if they work with a different company. Buyers often associate new people with more money, so it’s helpful to take the lead so that there are no surprises. Byers should also know who will be handling their information, their money, and the steps you’re taking to make sure everything is secure and happens in a timely manner.
- Explain Escrow if They’re a New Home Buyer
New terms like escrow might be common place to those of us in the real estate industry, but they can be stressful and confusing for first time homebuyers. Don’t assume that your clients know what you’re talking about. Use it as an opportunity to teach them about the process and empower them with information. It will go a long way into reducing their stress and ensuring that they become lifetime clients!
- Explain Title Insurance
Be sure to explain to your clients the difference between a lender’s policy and an owner’s policy. If you have a preferred list of agencies for them to choose from, go through the pros and cons of each. Also let the buyer know of the importance of protecting their investment with such a policy. If you’d like help with this, check out our site, or we’d be more than happy to provide you with printed materials!
- Get your Closing Disclosure
Just a few days before closing, the lender or closing agent should give your clients their closing disclosure to understand everything associated with their closing. Anything from fees to transactions to monthly payments will be in this document. Also let your clients know when and how any changes can and should be made to this document.
- Prepare for the Close!
Once you’ve ensured that all disclosures have been finalized, let your clients know how exciting the closing can be. It’s easy to let this process become stressful, so ensure that they feel prepared so that this can be a positive day. Confirm the times with your clients and the other party, make sure you have any gifts prepared, and ensure that you’ve given yourself plenty of time on your calendar.
Feel free to reach out to our office if we can be helpful to make closing day a wonderful experience!