Avoiding Title Company Delays for Home Selling
First-time buyers experience their first real estate transaction when they buy a house. When they sell it, there may be some surprises involved. Here are some good ideas for avoiding and handling delays at the title company for home selling. Title companies coordinate the legal work on behalf of the seller and the financing on behalf of the buyer, so manage the entire transaction after a purchase agreement is signed.
1. Avoid including certain personal property in the purchase agreement that will be left with the property after closing. Make a separate agreement for TVs, patio furniture or children’s play equipment in the backyard. But include appliances and custom drapery and blinds.
2. Plan ahead for repairs required by the lender. They usually take more time than expected to get bids, schedule contractors and complete the repairs.
3. Gather documents to verify personal data that could affect title to the property, such as marriages, divorces, deaths, estates, trusts, or possibility of remote closing due to travel.
Who is Responsible for Closing on Time?
In many respects, sellers and buyers are the ones who are responsible for a timely closing. When they provide accurate information immediately whenever the agent or title company asks for it, all the real estate professionals are able keep the transaction moving along. But it must be a priority for both the sellers and the buyers to stay on track every day. That’s how they show responsibility for closing on time.
Sometimes the title company drops the ball by losing paperwork or by simply letting a task slide. Most agents know they need to continually communicate with the title company to make sure everything is moving along and there are no accidental delays or oversights.
Avoiding Title Company Delays Entirely
No matter how quick and careful the sellers and buyers may be during a traditional closing process, it still seems to take a long time because there are so many people involved. One way to avoid title company delays entirely is to use a different model of home selling. Calling a real estate investor who buys property to re-sell or to rent to tenants an example.
Professional real estate buyers pay cash and arrange for all the title work to be done at their own expense. The seller does not have to pay any commissions or expenses at closing. This simplifies the closing process and speeds up the transaction, compared to a traditional buyer using a mortgage lender for financing.
We Pay Fast professional real estate buyers have the experience and the resources for homeowners interested in avoiding title company delays for home selling. Call We Pay Fast at 405-521-1807 or email [email protected]