(♬♫♪ ohh baby, gonna get to you girrrrrl ♪♫♬)
Okay so I secretly like New Kids on the Block, but here is the step-by-step of how Real Estate Closings work.
When a sales contract is pending, FTIC begins its work.
Step-by-Step
Hey 4 eyes! As your second set of eyes FTIC receives your contract, analyzes it, and spits it back with requests for addendums if incomplete, inconsistent, or lacking information. We want an enforceable contract and so do you.
PSSsst! Can I borrow your notes? FTIC’s proprietary software takes your 11+ page contract and emails you back a condensed one (1) page summary of important deadlines. Helps make sure everyone is on the same page.
Show me the escrow money! Upon receipt of your escrow deposit into FTIC’s trust account, FTIC issues an “Escrow Letter,” showing all parties the good faith deposit to buy the property has been received.
How does a Lion greet another animal? Pleased to eat you! FTIC calls each agent to the transaction, answer preliminary questions, and discuss expectations.
Title Searching for Needles in Haystacks. FTIC’s title search scours county public records, municipal lien searches, and estoppels looking for clean title or defects called “Clouds”.
Last call for alcohol it’s “Closing time.” This is where we collect buyers' and lender’s balance of money to close; prepare, have signed, and transfer the deed and related documents, pay all brokerage commissions, taxes, liens, recording fees and other charges, record buyers' new deed, and hand over the keys.