Whatever the reason, because the end of the year is so busy with holidays, family, and shopping, it takes paying a particular type of attention to close before the year ends.
These tips will help you make that deadline:
It’s not always possible to close a deal by the end of the year. Spend some time deciding if you can make it work or not.
If it’s not possible, the chances are it won’t blow the deal, at least if the parties are warned in advance.
If you discover you won’t or can’t get it closed in time, let both buyer and seller know immediately. There’s nothing worse for your clients or your reputation than promising and not delivering.
Read through the rest of this list to help you decide if closing by years end is doable.
Make a list of all the providers you’ll need to get the deal closed, from home inspector to escrow agent or closing attorney. Find out their when they will be available to do their part as the year winds down.
If any provider is going to go missing for a vacation or other reason, you’ll need to find a replacement. Remember too to get actual times their offices will be open and closed.
Client schedules can be down-right flaky as the year moves to a close. Make sure they understand how important it is that they be available at certain times. Do your best right from the start to get the timing of their parts nailed down and by all means, keep them apprised of any changes.
Be sure you ask them more than once to let you know of any schedule changes they have happening.
Ultimately it may be up to you to do extra work to help the deal close.
Start by putting as many details as possible in your calendar and on your to do list. A big part of your job will just be keeping track of who is where when.
You may have to run papers between parties because there’s no time for mailing them. You’ll probably take extra calls from the nervous clients, and make extra calls to the mortgage company, escrow officer and title companies. They only way you’ll get it all done is to stay extra flexible and resourceful yourself.
End of the year closing can be exciting or madness – the difference is largely one of attitude. Remember to breathe and to keep everyone involved as closely posted as possible.
All you can do is your best.
Have you got a tale of a year-end closing that worked or didn’t? Tell us about it in comments please.
Before Anne Wayman became a writer she sold real estate in Southern California. She worked with her father who learned the business from his father. Not surprisingly she learned a few things along the way. Since then, she has been freelance writing for over 30 years – she is a grandmother, loves cats and writes about a wide variety of topics including real estate.