We live in Florida, Brevard County, The Space Coast (yes we all know this) which has people moving in from out of state all the time, snow birds, retirees and especially people relocating with all of the new jobs that are coming to town.
The buying and closing process is so different in many places and when we do this all day every day, sometimes we forget to explain to our buyers how it is done here On the Space Coast which is even different from Miami or Naples or the State that they are from. For example, why do we prefer local lenders? When a seller is requesting a local lender pre-qualification, take the time to explain to your buyer why that is, there is a list of reasons: face to face contact, a lender who cares and wants repeat business, a lender who understands that we actually write the contract unlike the North East where an Attorney writes the contract after the Realtor writes the offer or binder and delays and extensions are the norm, and on and on.
What happens at closing?
Since the closing process varies by state, ask the person conducting your closing what to expect.
Things to ask: What do I need to bring to closing?
How much money do I need to bring to closing? How do I pay?
Review Your Closing Disclosure
By law, you must receive a five-page Closing Disclosure at least three days prior to your closing. Make sure the seller is aware of this also.
Bring these items with you:Picture ID (driver’s license, passport): The person handling the closing will need to make a copy of it.
Sometimes they need a second ID verify with the closer before the closing day.
Appropriate payment for closing costs: Some companies require wired funds, while others accept a certified check. Make sure you know what form of payment is acceptable.
Make sure the buyer verifies with the title company that the wiring instructions actually came from the title company and that they are correct before wiring the funds. Fraudulent Wires are on the rise again and for added protection there is a FAR form that you can have your buyers sign
consider adding this to your email signature:
Any request for funds to be wired MUST be verbally confirmed with the title company.
NEVER wire finds unless you VERBALLY confirm with the title company
Finally, remember this may only be the first, second or third house your buyer is buying and for you it may be the 500th house, remember to be patient and explain everything to them so they know what to expect!