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For Most, the Closing Table is the End of the Line...

Wednesday, March 9, 2016   /   by Extreme Home Selling Team

For Most, the Closing Table is the End of the Line...

For some People, it morphs into a Nightmare! Here are a handful of "Believe It Or Not" tales from national real estate writer, Lew Sichelman, straight from the Closing Table....

Delayed!A California Closing Agent calls the Lender to say, "I can't make the closing because... I've just been arrested on my way there!"

A Texas closing was adjourned because NONE of the participants, except the Settlement Agent, spoke English! Failure to Communicate.

A Massachusetts closing failed when all the parties showed up except the Closing Attorney... who died two days prior! Nobody knew.

These are actually a bit hilarious. What's NOT funny are the people who are out to steal from the innocent and unaware!

A Tennessee Settlement Agent operating for 30 years without a license! He shrugged it off saying, "No one ever asked to see it..."  He finally became licensed ONLY when confronted with evidence of the state law.

Commingling unds is IllegalA Virginia Attorney using his personal joint account as his Trust Account for 20 years! Lenders AND Clearinghouse Banks wired funds regularly, never questioning the way it was titled...

A California Mobile Notary on the National Sex Offender's list, never vetted by his Employer nor the Lender. This man was sent to close loans in customers' homes!

A Maryland Title Co. Owner previously convicted of Wire Fraud with his License revoked was still in business, handling monies! Neither the Lenders nor the Title Underwriter were aware of his convictions nor the fact that he was unlicensed!

The same rules apply that EVERY Superb Realtor and Lender Team should be telling you:
1 - Ask for a LONG Rate Lock in case of delays!
2 - Schedule ALL Inspections, Survey and Appraisal Activity immediately! If one proves the deal breaker, you can cancel the rest, but trying to schedule on short notice is a Herculean Feat! Respect your Vendors' time!
3 - When Selling AND Buying, schedule the Sale AFTER the Buy, if possible, so you don't end up in a hotel.
4 - Reveal everything! Do not hold back any information. Run your credit report first and be prepared to confess!
5 - Pull 2-3 years worth of Financials to hand over. Start your homework ahead of time.
6 - DO NOT shop for any Big Ticket items! NO Cars, Furniture, Vacations, etc. Nor should anyone change jobs! At least not during the Underwriting process and for at least 3 months after Closing. Lenders can and will examine your credit report after the fact. DON'T quit your job!!! Stay EXACTLY the way you were when you were approved.

When YOU partner with the Extreme Home Selling Team at Keller Williams On The Water Sarasota,
you are working with a strong reputable group of people who are honest, ethical and moral, using resources and referrals of the highest caliber in our Community.

YOU can rely on OUR Team to PROTECT YOUR INTERESTS whether Buying, Selling or both!
Give us a call. Let's start a Conversation!

ROBERT “CHIP” DEACON, Broker-Associate
941-584-8400, 9000
Jeff Kaplan, Customer Care Team
Shari Shepard, Team Admin
Laura Dobrin, Realtor - Buyer's Agent

Shari Shepard   Shari Shepard
Adding a Little Sharisma to Your Day!

Andrew Scherer
1549 Ringling Blvd. Suite 600
Sarasota, FL 34236
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