The answer to this question relies entirely on communication.The transactions that run the smoothest are those where communication remains clear and consistent from the start. This communication begins with the agents setting forth clearly their role in the transaction to their customer(s) and making sure the customer understands this up front. For a listing, this also means drafting and reviewing the listing agreement with the Seller so that they understand the terms of that agreement.

The next step is to make sure that the purchase and sale agreement is clearly and cleanly drafted with ALL information contained therein (including notice addresses, agent’s names, and all check boxes clearly marked). The number one cause for confusion and immediate delay in a closing is when someone picks up a contract and can’t read what is contained within the pages of that contract. Once the contract is drafted and signed/initialed (in every spot) then the contract should be sent to any lender involved and the title company.

At this point the lender should be provided with the title company contact information and should begin their own process for getting the loan ready for closing. The title company should be provided with the lender information as well as the contact information for the Buyer(s), Seller(s) and Agent(s). The title company will want to immediately contact all of these people to start bringing everyone together in the communication process. The main job of the title company is really to act as the middleman or facilitator. The title company should promote the flow of information and never be the cause of missed information.

Once the title company has made this introductory call they will start working on the title searches, lien searches, ordering survey (if needed), estoppel(s) (if needed) or payoff(s) (if needed). The title company will then communicate with all parties as these searches begin to arrive. Any questions or concerns from any parties should also be communicated back to the title company so that they can address those and put any anxieties to rest.

The closing process can be like a bumpy flight with lots of unexpected and unavoidable turbulence, although communicating openly, clearly and frequently will help smooth out this flight and will clear the path for a smooth and effortless landing (closing).