1st Consolidated Asset Management

Dallas-Fort Worth Property Management

Tuesday, May 18, 2010

Having Trouble Closing On That New House?




Have you ever stopped to think of all the people that are involved in making a real estate closing occur.

Take a look at the list and tell me it's not a miracle when a closing happens on time.

I’m sure we could add more in today’s market with Internet technology. What do you think?

  1. The seller
  2. The buyer
  3. The seller's Realtor
  4. The buyer's Realtor
  5. The buyer's lender
  6. The lender's underwriter
  7. The appraiser
  8. The home inspector
  9. The FHA underwriter
  10. The surveyor
  11. The escrow officer
  12. The escrow processor
  13. The courier
  14. The title company underwriter
  15. The appointment service
  16. The contractors
  17. The notary
  18. The phone company
  19. The electric company
  20. The gas company
  21. The cable company
  22. The county clerk
  23. The buyer's employer
  24. The buyer's current landlord or mortgage company
  25. The credit bureau
  26. The attorneys
  27. The PMI company
  28. The home warranty company
  29. The MLS provider
  30. The tax office
  31. The buyer's home owners insurance agent
Now consider that each of these parties had a staff involved of say 3-4 people and you are looking at over 100 people who touch a real estate transaction before it finally closes. Think there is a chance for a screw up or two?

1 comment:

Anonymous said...

It's a miracle any loan closes on time, there are so many hands to touch the deal. That's why I live in a Las Colinas Apartment