From Offer Acceptance To Closing
Brad:
In Tennessee, the closing process typically involves working with a title company and a closing attorney.
One of my attorneys, with whom I frequently close deals, also has an office in Tennessee. I’ve actually signed closing documents at their Nashville office while I was in town for closings in Georgia.
Now, let’s discuss how the closing process usually works. For instance, if a seller reaches out to us at Probate Resource—perhaps after finding one of our videos online—they express their desire to sell an inherited property. In this case, one of your local representatives, Charles, will visit the property to meet with the seller. After this meeting, you will make an offer. If the seller accepts your offer, we can then proceed with the next steps in the process.
Initial Steps and Title Processing
The process begins with us focusing on what we call the seller authorization forms. There are about three documents, in addition to the main agreement, that we need to provide to the title company to initiate the title order. Once that’s done, we essentially monitor the situation, ensuring that everything flows smoothly based on the terms we’ve agreed upon.
The title company, along with our transaction coordinator, works diligently to confirm that the title is clear, all names match, and there are no outstanding liens or judgments. It’s important to note that while we may suggest a closing date, the final decision rests with the seller regarding when they want to close. Our role is to eliminate any potential obstacles and expedite the initial processes.
Ongoing Communication and Closing
Moreover, our transaction coordinator guides the seller throughout the process. We have what we call our customer experience journey—a roadmap designed to keep sellers informed at every milestone. For instance, we provide updates like when the title search is complete and clear, when the due diligence period has ended, or when we are ready for closing. We believe in maintaining communication and do not leave our sellers in the dark after the agreement is signed. Instead, we ensure regular touchpoints, usually on a weekly basis, and aim to finalize details about a week or a few days before closing.
If the seller is out of state and needs to sign elsewhere, or if they prefer to come to the office for signing, we accommodate their preferences. Overall, we strive to make the process low-impact for our sellers by ensuring everything is above board and moving toward a successful closing.
Brad:
Scheduling the Closing
We operate in a similar way here. We prioritize clear communication with the seller throughout the entire process to ensure they are well-informed and guided to the finish line. However, some sellers request to schedule the closing date and time right away. We usually advise against that and prefer to wait until a few days before the actual closing date. This is because potential title issues may arise that we need to address, and if we set a closing date too early and something comes up, we could end up having to cancel or reschedule.
Typically, we finalize the closing appointment just two or three days in advance. If the sellers come in person, we might schedule a time, such as 2 PM.
Closing Options
For remote sellers, we frequently arrange for them to close with notaries.
We can send a mobile notary to meet you wherever you are. You can even invite them to your living room while you’re in your underwear, although they might find that a bit unusual! This service comes with a fee of around $250 for the notary to come to you.
For busy individuals, we’ve arranged meetings in work parking lots or even had notaries come to offices, allowing clients to sign documents during their hectic schedules. I remember a woman I worked with years ago; she was an insurance adjuster for a commercial company that handled shipping container ships. I’ve never seen anyone work as hard as she did! I jokingly asked her if she lived at her office. We coordinated for the notary to meet her there and complete the signing.
There are many options available for sellers to complete the closing process. You don’t need to come to our office; we can arrange for you to sign with a notary elsewhere. Just let us know in advance if you are interested in a remote closing option or if you’re unsure about making it on the scheduled day. We can discuss alternatives, such as using a notary or visiting different title company offices in your area. This way, you can find a convenient location to sign your documents without having to travel across town.
Another point I want to emphasize is the importance of anticipating potential issues. For instance, we often discuss things upfront, like, “What are your plans for this stuff?” or “Where are you moving to?” During the closing process, we revisit these topics to ensure everything is in order.
We have referral partners who can provide discounted rates for moving services and other needs, which can be quite helpful. Not everyone requires these services, but we strive to proactively identify any potential obstacles so we can address them early on.
This approach helps avoid stress for everyone involved, especially given that many clients are selling inherited properties or dealing with large companies. Our goal is to make the process as smooth as possible, considering that people often have a lot on their plates.