Posted by Christina DeIeso on 12/30/05 7:22pm
Msg #85358

What is involved in closing purchases

I want to expand myself from just the refi market. What is needed to do purchases? I will be going to title school soon but I figured you guys would have hands on insite. Thanks........

Reply by Elizabeth Atwood on 12/30/05 8:37pm
Msg #85365

Well 1st of all ask for more money. Lots and lots. Then take a step back and run, run back to refi's. Purchases involve the buyers, sellers, realtors, and You.
Let me be the first to say that purchases are hell. I ask for at least double and I turn down most. Once you get into a company....be careful.

Reply by Jacqi Shifflett on 12/31/05 9:23am
Msg #85445

I agree with you....we both work the same area and EVERY purchase I've ever handled in OC has been a royal pain. Had one last week that was THREE hours long. I also double my fee for purchases...they can take it or leave it. I'm busy enough. I always find it amazing how realtors know everything about the settlement process. I am considering carrying duct tape in my breifcase to silence the next realtor that wont shutup and let me do my job. (Just kidding)

Reply by Shane_OH on 12/30/05 9:17pm
Msg #85370

Don't Let Elizabeth scare you, there is no scary side of Purchases. Will you have the occasional rough closing? yes, but you have those no matter what loan you are closing.
There are a few more papers to familiarize yourself with, and of course as I stated before the settlement statement is a little different, and might throw you off the first time you see one.

Don't worry, expand your business, more money in your pockets...like all things, the more you do the better you'll get. Dont' be afraid to ask questions, yes you'll get some cranky smart a$$ remarks here, but you'll also learn a lot too.

Reply by TitleGalCA on 12/31/05 12:07am
Msg #85409

Purchases are simpler, IMO. Even the commercial purchases I've done (all of 2) are easy - seems the more saavy the parties...the easier to close.

Agree with Shane...nothing to be scared of. Ask questions and welcome new opportunities - if all else fails, remember the phrase "fake it 'til you make it". It's worked for me.