As a seller, ensuring a smooth closing starts long before your closing day. The process starts before you accept an offer to purchase your property.
Following these steps can help you close on time:
Favor the Simpler Offers
With real estate purchase offers, simpler is almost always better. That’s because offers that depend on complex, interdependent variables are more likely to fall through, forcing you back to the drawing board in search of new offers.
Many times, cash offers are the simplest offers of all, but not always. For example, if the cash buyer can’t close unless they sell another property first, your transaction will depend on a process you have no control over.
Before accepting an offer, try to find out how the buyer plans to pay for your property. If the buyer will be financing the purchase, ask to see a pre-approval letter from the buyer’s lender.
Negotiate Before Locking in an Offer
After you find the ideal buyer, negotiate as many of the purchase details as you can before signing the contract. This can pay off later.
You’ll need to be proactive. For example, the buyer might not mention closing costs, but this doesn’t always mean the buyer plans to pay them all. It may mean the buyer plans to bring up the topic later. You’ll need to find out for sure what the buyer expects, and include it in the contract, before signing the contract.
The same goes for contingencies. Ironing those out with specifics before you sign the purchase contract can enable a smoother closing process.
Prioritize Communication
Most smooth closings have one thing in common: good communication. With something as important as a real estate transaction, communication is a must. It’s not safe to assume anything.
Make sure your Realtor knows your expectations. Ask your Realtor to make sure the buyer’s agent understands what you expect, and listen to the buyer’s agent, too. Detecting potential misunderstandings early can prevent them from affecting your closing date.
If we handle your closing, we will let you know if there is anything we need well in advance. We will also send reminders, if necessary, to keep your closing on schedule.
Let Your Title Company Handle the Details
The best title companies can make even the most complex real estate transactions look simple.
A good title company can often prevent issues or delays well before they become problems. For example, at Butler Title, we order Title Insurance Commitments and lien searches the SAME DAY we receive a new contract. We don't wait for the inspection period to end (as many of our competitors do - we know because we’re on the other end of these deals, often). This 5, 7, or even 10-day headstart on ordering documents can make all the difference when it comes to closing on time. We never want a closing to be delayed because of something we control, so we order all documents well in advance to ensure we have ample time to address any title or lien issues that may arise. And if the deal cancels during the inspection period - no payment is owed to us. We understand this happens, and our Buyers never pay for anything on a canceled deal.
That’s the kind of service we offer at Butler Title. We focus solely on facilitating closings and issuing title insurance policies, and we have closed THOUSANDS of deals in Florida. When you choose our company to manage your closing, you can be sure that providing a smooth experience is our top priority.
We treat your closing as if it were our own. Contact us today to learn about our services.
Butler Title is a full-service, attorney owned and operated title insurance agency. We keep it simple and focus on what we do best: real estate closings. From first-time buyers to local moguls, BT provides an industry-leading fee structure and unparalleled experience.
P: 954.616.8735 F: 954.206.1097