Posted by Barbara O on 12/13/05 12:25pm
Msg #82198

Purchase Closings

I just got a call today to do a closing. I've done several hundred by now, but have never done a purchase closing where the buyers, sellers, and the agents are present. I would also have to disperse the final funds at the closing. Has anyone done one of these closings before, and if so, could you tell me a little bit about what to expect, and how different this closing is from the other closings.

Reply by Tina_MA on 12/13/05 12:44pm
Msg #82204

Too much to type here. Give me a call and I'll be more than happy to go over the different scenarios with you.

Reply by Charles_Ca on 12/13/05 12:50pm
Msg #82210

Pleae don't take this wrong

The word to pay out is to disburse to disperse means to scatter. Just thought you should know if you don't, it may have been a typo.

Reply by Anonymous on 12/13/05 1:01pm
Msg #82216

Re: Pleae don't take this wrong

Yikes!

Reply by Anonymous on 12/13/05 1:02pm
Msg #82217

Re: Pleae don't take this wrong oops

I meant to say,
Yikes! Please is spelled Please, not pleae. Maybe it was a typo but you should be aware of it.

Reply by Charles_Ca on 12/13/05 1:03pm
Msg #82219

I suppose you are trying to be helpful

otherwise I'd tell you to cram it!

Reply by Mdene_AZ on 12/13/05 1:16pm
Msg #82221

Re: I suppose you are trying to be helpful

That seems to be one huge responsiblility! Are you going to get paid what it's worth?

Reply by Anonymous on 12/13/05 1:34pm
Msg #82226

Aren't you the clever child Anon! nm

Reply by Jenny_CA on 12/13/05 4:26pm
Msg #82262

Re: Pleae don't take this wrong oops

It's obvious that please was mispelled. If I was using disperse instead of disburse I'd welcome the correction if it was with good intentions. I've met with borrowers that are more business savy than I am . I'd rather know the right terminology than to have the borrower cringe at the table. I once received an email requesting some forms to " exhilarate" the registration process They meant "expedite".

I'm not perfect and do make mistakes.

Reply by Anonymous on 12/13/05 1:33pm
Msg #82225

Re: Pleae don't take this wrong

Reply by Anonymous on 12/13/05 1:44pm
Msg #82230

Re: Pleae don't take this wrong

THE SELLER ONLY SIGNS A FEW DOCS. I HAVE DONE THEM WHERE THE SELLER DOES NOT STAY THROUGH THE ENTIRE CLOSING. THEN YOU PROCEED WITH THE PURCHASER'S DOCS. YOU HAVE TO MAKE SURE THE COPIES OF CERTAIN DOCS ARE GIVEN TO THE CORRECT PEOPLE. IF THERE IS A PAYOUT AT THE TABLE YOU WILL GIVE THE CHECKS TO THE PROPER PEOPLE. SOME FAXBACK WILL BE REQUIRED. THE TITLE COMPANY OR LENDER USUALLY GIVE THE INSTRUCTIONS OF WHAT TO COLLECT AND GIVE OUT. I CHARGE ABOUT $50 MORE FOR A PURCHASE BUT IT IS NOT THAT MORE TO DO.

Reply by JanetK_CA on 12/13/05 4:26pm
Msg #82263

What state are you in?

As I'm sure you know by now, that could make a huge difference, especially with a purchase.