5 Common Closing Problems Experienced by Realtors and How We Can Help You Avoid Them
SERVING WAUKEGAN, LIBERTYVILLE, LAKE COUNTY, GURNEE & NEARBY AREAS OF ILLINOIS
- The Lender Doesn’t Have What They Need from the Title Company
Even the best lenders have trouble meeting time deadlines and getting ready to close on time. A frequent complaint is that the title company did not get requested information back to the lender in a prompt fashion. With the new TRID regulations in place, it is more important now than ever that the title company is accessible and answers requests for information and documentation promptly. Since our title agency is part of our law firm and we don’t farm out our title services to third parties, we have one less layer of communication and always move quickly to meet a lender’s needs. This keeps the deal moving towards an on time or early closing.
- Convenient closing times and/or locations are not available
Certain days are very popular for closings. For example, the last day of the month or any Friday, especially a Friday before a holiday weekend. Far too often, a title company juggling many different clients simply does not have enough time slots, closers and closing rooms available to accommodate everyone. Since our law firm handles our closings in house, we always have sufficient time and space available. We are never overbooked.
We have two conference rooms available at our main office in Libertyville and another one at our satellite office in Waukegan.
- Closing rooms are cramped and uncomfortable
Ever been stuffed into a closing room where there are not enough chairs, no room to move around and a conference table that is too small to accommodate everyone who must use it? We have and we hate it. Bond Title Services provides large conference rooms, large conferences tables, comfortable seating and plenty of room to get up and move around. And we always have coffee, cold water and chocolates available to make a visit by you and your clients more comfortable.
- Changes to a closing statement take forever and/or the closer is nowhere to be found
Far too many title companies have their closing statements prepared at a central facility and not at the actual closing site. Adding this extra layer of personnel serves to significantly delay the time it takes to make changes. Bond Title Services always has the ability to promptly make adjustments to the closing statement on the spot with a closer you will see and who is not hiding in some back room most of the time.
We use the best and latest technology so that documents can be transmitted back and forth with the lender quickly. No more waiting forever for the closing package to be slowly transmitted to the lender for review.
- Title company fees are outrageously high and upset your client
Far too often, buyers and sellers express that they don’t understand what title insurance is and why it is so expensive. Experienced real estate professionals know that title insurance protects everyone involved in the transaction and provides the best guarantee that you and your client won’t experience an unexpected and expensive problem after the closing is done. While title insurance claims are infrequent, they can be expensive to resolve and the payment of premiums helps spread the costs around. However, costs are frequently not fully disclosed to buyers and sellers before closing. They can also vary from company to company by hundreds of dollars. We promise that our fees are not only competitive but almost always well below those charged by other title companies. These reasonable rates make you look good to your client and help everyone walk away from the closing table happy.