Real Estate News And Views

Realestatelicense.com has created this blog to keep you informed on recent real estate news, views, and topics. Real estate is a very dynamic field. Everyday there's something new and exciting happening in the world of real estate. Use this blog to stay on top of current real estate events, news, and views and support your real estate license and career. As a licensed real estate professional, you need to know this information.

4 Big Closing Mistakes

When you took your real estate license course, you learned how to close the deal on a home. Yet, some mistakes can cause you to blow the whole deal. Here are four big closing mistakes to avoid.

1. Missing important deadlines.

If you're not organized, you could cause your client to miss an important closing deadline. Avoid this major faux pas by making a list of every task that must be completed throughout the contract. Assign personal due dates to each task that are at least three days ahead of the real due dates. Set electronic reminders one week in advance to make sure you're on track.

2. Scheduling home inspections at the wrong time.

Once the contract is signed, your buyers need a certified home inspector right away. If there are problems, there's time to fix them or renegotiate new terms. On the other hand, if there's a contingency, like a $5,000 flooring credit, be wary of spending money on a home inspection until the contingency is met.

3. Not staying on top of lenders and escrow officers.

Call your client's lender and escrow officer regularly to make sure everything is right on schedule. Form a close network of professionals you trust and help your clients choose the best lender or escrow officer. There's nothing more frustrating than a lender or escrow officer who lacks a sense of urgency or doesn't return emails and phone calls.

4. Not keeping clients in the know.

You know purchasing a home is an emotional experience. Your clients will appreciate your efforts in keeping them up-to-date with the closing process. Don't worry them with small details you know you can handle, but do share larger issues that could deter a smooth closing.

By Danielle Macklin, Allied Schools,www.realestatelicense.com