Saturday, April 5, 2014
Tips for a Smooth Settlement
The March/April 2014 Review publication lists the top 10 tips for a smooth settlement.
They are as follows:
1. Communication between the lender and the title company should be continuous once a contract is ratified.
2. All required Inspections(property, termite, well & septic) should be performed promptly to avoid delays in settlement.
3. Schedule the walk through inspection early enough so any issues can be addressed ahead of time.
4. Any seller repairs should be completed as soon as possible with receipts forwarded to the buyers agent long before the final walk through.
5. Provide utility numbers to both sellers and buyers and establish the transfer dates by confirming with selling agent and listing agent.
6. The seller should keep their homeowners insurance in place until the transaction goes to public recordation.
7. Both buyers and sellers must have a picture ID on hand at the settlement table. The buyers and sellers should have a cashiers check for amounts due at settlement. Personal checks can be used only to settle small issues.
8. Buyers and sellers not attending settlement must arrange in advance for a power of attorney.
9. Estate sales require the signature of every beneficiary to the estate. Prepare in advance for those signatures.
10. A court appointed attorney for a minor beneficiary must be present at settlement.
Preparation is the key!
If you are ready to buy or sell a home call me today. I will treat your transaction as if it were my own.
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