Dave Ferro
Subscribe and receive email notifications of new blog posts.
RSS Feed
29
"Why do we need those documents? It already closed!"
This blog post is for any Realtor® who has asked:
"Why do we need those documents? It already closed!"
I get that it isn't fun to track down documents once you've been paid on a deal, but many times legal issues or customer service issues pop up after the buyer has moved in. No one likes paperwork. But it is necessary. There are legal reasons for us to keep HOA disclosures, seller's disclosures where possible, wire fraud disclosures, Watson Disclosures to Buyer and Misc disclosure etc. Subpoenas pop up occasionally for paperwork. Imagine me asking the attorneys "What difference does it make? It already closed!" Back in the day if I turned in an incomplete file my broker would drop it on my desk and tell me to try again. If I wanted to get paid I had to make sure everything mandatory was provided by closing. No paperwork no money. That's not the policy here because we want you to get paid but I long for the days when it was. In this paperless era incomplete files are easy to overlook. I'd recommend double checking things at the same time you are reviewing the draft closing disclosure. By the way, I recommend reviewing the draft closing disclosure at least one day before closing. There is nothing more embarrassing and unprofessional than missing an obvious mistake on the closing disclosure and having your customer look at you and ask why you didn't catch it in front of the closing agent, the other Realtor® and their customer. Please make a habit of reviewing your files for completeness before closing. If you are missing a form or a signature you can get it taken care of at the closing table with all parties present.
That is far more convenient than tracking a buyer or seller down after closing. Do you know what buyers and sellers ask when you do chase them down after closing? "What difference does it make? We already closed!"
