Why Closing Folders Is The Better Way To Close Your Transaction

_Why Closing Folders Is The Better Way To Close Your Next Transaction

In the real estate industry, we’re taught Transaction that it’s always better to leave everything out and organized, but there’s one room where this isn’t true – closing folders. While you might think that leaving all the papers and documents out in the open will make it easier to find

what you need, in reality, it only makes your job harder and takes up unnecessary space on your desk. The solution? Try closing folders instead of leaving things out when possible, and read on to find out why!

Five Important Facts About Closings

A closing Transaction folder is an important item you’ll need for the signing of a real estate transaction. It’s where all of the paperwork for the transaction will be finalized, including contracts, addendums,

inspection reports, and even the title company paperwork. While it can be tempting to pack up and leave as soon as you’ve signed on that dotted line and said goodbye to your agent, there are some important steps to take before signing off.

Most Realtors  Transaction will recommend taking a few minutes to ensure everything in your folder has been accounted for and all of your agreements have been met before signing anything more.

This doesn’t seem like a big deal but small mistakes can cost time and money later down the road when something like a lien is discovered during a property audit

.Transaction Closings are usually completed within an hour or two with no disruptions, so don’t feel rushed or pressured to sign anything without reading it thoroughly first. You’ll also want to ask questions about any clauses you’re not familiar with or uncertain about – this will help prevent future issues!

What Closing Folders Have That  Transaction Tools Don’t

Traditional sales tools such as contracts, due diligence checklists, addendums, and binders have their limitations because they either require excessive amounts of storage space or cannot be fully utilized on mobile devices. However, closings folders are designed to provide all the same features of these traditional tools while being more efficient and better suited for modern technology

. Closings folders save space on your device by combining almost all documents in one place; they allow you to close transactions anywhere you are and are also compatible with nearly every operating system (Mac, PC, iOS, and Android).

As a result, with closings folders, you can expect higher customer satisfaction rates through easy access to information from the convenience of their own home or phone. And, unlike other traditional closing tools that use dated templates and clunky software, closing folders are updated annually with changes that take into account the current climate in real estate so your customers will never miss out on key issues that may affect them at closing time.

How Closings Can Help You Get Through the Process

It is important to keep in mind that there are a few key things you need to have in place when using closing folders:

1) You should have ample space in the folder for all your paperwork.

2) You should be filing by case number and not by date.

3) When you’re filing, double-check that the folder contains everything before you put it away, and make sure the client’s initials are on every piece of paper.

4) Never forget to put your work back into its corresponding case file when done with it.

5) If your case file will be stored offsite, make sure to write the location clearly on the outside of the envelope or container holding the file so that it can be retrieved if needed at a later date.

A Few Things to Keep in Mind When Using Closings

1. If you are working with an agent, find out what they prefer and use that system as a standard.

  1. Closings will not always be transferred with your transaction so make sure you don’t give one away before starting the next.
  2. Keep your own set of closings so if the need arises, you can close on something else without having to go back to your desk or hound for closing from someone else.
  3. When it comes time to create the closing, create it in Word first and then copy/paste it into your deed software so there is no chance of mistakes.
  4. When all is said and done, save the document with Closing in the file name; this way it’s easy to spot at a glance when you’re scrolling through documents looking for closings.
  5. Keep browsing Law Scribd for more updates.

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