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Had a same day closing on a 1031 exchange
Posted by  Cheryl Elliott of CA on 9/13/18 7:05am Msg #598425
yesterday which meant fax backs. It was a $1.5million transaction of investment property. Wouldn't you think the folks arranging the 1031, and title, could spell the client's name correctly? Last minute docs, a scramble, then 2 correcting settlement statements came to me during the day. I contacted the borrower to let him know I needed another signature, which triggered a call from title. She was so rude and I told her with this last change I couldn't guarantee UPS drop would be possible in the area where client lived. UPS is not that great here at all. Earlier deadlines for areas outside of CA.

She was so rude and berating that I didn't even have a chance to tell her that client's name was misspelled, and we simply lined it out, wrote in the correct spelling and initialled it throughout 20 pp stack of papers. Thankfully it wasn't a larger stack, I would have been there for a whole lot longer. Historically, if client's name is misspelled, I turn back the documents and wait for corrected package. There was no time due to last minute documents. Borrower is 88, he's not that cracker jack fast and horribly hearing impaired!

Sometimes this job simply doesn't pay enough, even when you do get your normal fee. Any way, they'll have a little egg on their faces for the error in handling this huge transaction for a valued client.
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Messages in this Thread
 Had a same day closing on a 1031 exchange -  Cheryl Elliott on 9/13/18 7:05am
 Rush jobs ... - Yoli/CA on 9/13/18 10:22am
 Re: Rush jobs ... -  Cheryl Elliott on 9/14/18 6:41am



 
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