Top Ways to Expedite Your Closing – Tips from the Title Company to You!
You’ve got a contract on a property! So now what? As you begin to work with a title company, there are a few tips that will make the process a lot easier.
Hogan Land Title Company has some great tips to help your closing process go as smoothly as possible.
Provide Complete Contact Information & Marital Status
We love a good guessing game just as much as the next guy, but without complete contact information, there’s very little progress that can be made toward completing a purchase close.
Providing the title company with phone numbers, email addresses, and marital status for both the seller and the buyer is the #1 way to make sure your closing gets off to a great start!
Get Preapproved For a Home Loan
Getting preapproved before attempting to close on a home has multiple benefits. A preapproval gives you an amount to work with when home shopping, because you know the limit you need to stay under.
Knowing you’ll be approved for the loan helps the closing department expedite the closing process.
Get an Inspection & Appraisal Right Away
Both inspections and appraisals are necessary. They can take some time to schedule, carry out, and receive the reports. The sooner you have this done, the sooner you can move on to the next step.
Highlight Important Information
Are we searching multiple tracts? Do we need to prepare a deed to a different entitybefore the transaction closes? Will there be a power of attorney (POA)? Are any clients e-signing or signing by mail?
Inform the title company of any important information when you send in your order. This way we can prepare the title work quickly and get started on the closing process sooner.
Review & Sign the Title Commitment Right Away
You will receive the title commitment at least a few days before the closing. It is important to review the title commitment as soon as possible to ensure all names are spelled correctly and that the correct parcel has been searched.
When you identify inaccuracies early, it makes it much easier to get them fixed, stay
on schedule, and get the loan funded on time.
Deposit Earnest Money Online
Earnest money, or a good faith deposit, is money the potential buyer gives to the seller before the closing. This deposit acts as a placeholder until the house is fully purchased, and it shows the seller that the buyer is serious and fully intends to go through with the purchase.
Some title companies (like Hogan Land Title Company) offer an online option for depositing earnest money. Many people today do not have personal checks, plus it is a hassle to have to hand-deliver an earnest money check. Utilizing an online earnest money deposit makes this step easy.
Hogan Land Title Company
With over 50 years of experience serving Southwest Missouri, Hogan Land Title Company is known for its dedication and professionalism. We have offices in Springfield, Branson, and Branson West ready to serve you.
For more information, visit us online or call (417) 882-0909.