WELCOME BUYERS & SELLERS:
TOOLS BELOW TO HELP WITH THE PROCESS
When it comes to buying and selling a home, whether you're a first-time buyer, a seasoned professional or savvy investor, there are many things to take into consideration on the path to a successful real estate closing. At McManamy Jackson Hollis, you will enjoy the combined depth of our real estate law experience and user-friendly, secure infrastructure. We are dedicated to providing our clients with a myriad of tools and resources to better prepare all parties involved to ensure an efficient and expertly executed closing.
During a real estate transaction process there's no denying it can, at times, become stressful. There are many steps along the way that can be confusing and require the utmost attention to detail. To begin, finding the right real estate agent is an important first step and goes a long way in alleviating some of that stress. In addition, selecting a highly-qualified closing attorney is just as important.
If you've found the perfect home, congratulations! You've successfully negotiated terms with the seller, found a lender (if applicable), and sent the fully-executed contract to the closing attorney. So, what's next?
Now that your closing attorney has your file, you'll begin to hear terms such as pre-closing, closing, and post-closing. What does it all mean for you? These terms are used by our office to describe the progressive stages in which the closing file follows. Let's briefly break them down.
PRE-CLOSING
CLOSING
WIRE FRAUD
NOTICE
POST-CLOSING
This is the initial stage in which a closing file is received in our office, assigned to a team of paralegals and the process of information gathering begins. Pre-closing paralegals are responsible for:
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Obtaining contact information (phone number, email address, mailing address, etc.) for all individuals and companies associated with the closing.
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Determining if the parties to closing will be attending closing or require a Power of Attorney or mail out.
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Ensure all parties are registered for MJH PORTAL.
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Schedule dates and times for closing.
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Responsible for ordering title examinations.
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Ensuring Title Commitments and other preliminary documents are sent to the lender in a timely fashion.
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Gather all HOA dues information, mortgage loan payoff(s) and other lien or title clearances.
The second stage of the process is closing. Once the majority of the necessary information is obtained from the buyer and/or their agent, closing paralegals are tasked with the following:
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Prepare & format legal documentation for closing.
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Obtain loan documents from lenders.
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Prepare & obtain approval of closing statements.
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Responsible for coordinating the receipt/disbursement of closing funds based upon the required FUNDING POLICY.
Please refer to our WIRE FRAUD GUIDE for useful tips and information on how to avoid becoming a victim.
The final stage of the process is post-closing. Once the closing attorney has met with all parties and the documents have been fully executed, the file will be given to the post-closing department. Post-closing paralegals will help ensure all terms of the closing have been satisfied before the final closing of the file. Post-closing tasks include:
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Ensuring checks and invoices are mailed timely.
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Wiring of client funds and mortgage payoffs.
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Recording of documents.
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Final issuance of title policies.
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File organization and quality control.
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Responsible for document retention/destruction in accordance with firm policy.
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Addresses any client questions or concerns after signing takes place.
CHECKLIST
FOR
BUYERS
