Nothing strikes simultaneous dread and excitement into the heart of a real estate investor (or any home seller, really) than the words “closing day.”Closing on a property you’re selling is exciting, for sure, but it can also come with a lot of stress and uncertainty—especially if you aren’t prepared.
So to help you out, take a look at this brief “guide” to the closing process, which will help ensure that you’re ready for the process that leads up to the closing date, and the actual closing itself.
First, here are a few quick tips to set yourself up for a successful closing:
- Gather the experts: When you sell properties, make sure that your mortgage company attends your property’s launch/open house to pre-approve any potential buyers. You might also want your Realtor and contractor to be present ; anyone who is knowledgeable about the house, the financing process, or the neighborhood will be awesome for answering a buyer’s questions.
- Build strong connections: Use the same listing agent as often as you can (or the same 2-3 listing agents in your area). This will breed loyalty. It’s also helpful to use the same title company as often as possible, so you can learn their processes thoroughly. Plus, if you use them often enough, they should compensate you with a Marketing Services Agreement.
Now, let’s get into a detailed timeline of what you can expect in the 45 days (give or take) leading up to the closing date.