With so much emotion riding on a closing; you want it to go well - not only for your benefit, but also to provide excellent service to your customer. Here are five tips to ensure a smooth transaction ~ from initial title order to final closing.
Before you submit your order, ask your customer if there has been a recent divorce, death, marriage or other situation that would affect title to property. If so, inform ATASC immediately and ask your client for copy of the divorce decree, death certificate or new spouse's name. Quick turnaround time from initial order to closing depends on accurate information.
When working with your borrower, if a Power of Attorney is to be used at closing; ATASC will need to review it as soon as possible. In addition, the escrow officer may need to speak with the principals listed on the power of attorney on the day of closing. Note: if a Power of Attorney is to be used at closing, the ORIGINAL must be available and provided to ASTAS prior to the closing.
Inform ATASC of any special arrangements that may be required for closing. The signatures of all parties are necessary in order to close. Therefore; if someone is unable to attend, we will need to make appropriate accommodations. Ohio is a "dower state" and all spouses must sign regardless if they are "on the loan or not".
If an appraisal fee or hazard insurance is required on the closing instructions, please provide all invoices prior to closing.
Finally, make sure your customer has "good funds" for the closing. "Good funds" meaning, please have your customer bring a cashier's check for funds owed at closing made payable to "Accurate Title Associates". Ohio law dictates that any amount over $1000 must be brought to the closing table as "certified funds". Anything less than $1000, a personal check is acceptable; however, certified funds for any amount are preferred.
