What You’ll Learn in This Episode:

• What is the Closing Disclosure? A five-page document detailing all final loan costs and terms.
• Why It Matters: Transparency, accuracy, and confidence for buyers before signing.
• Key Sections to Review: Loan terms, projected payments, closing costs, and cash to close.
• When Buyers Receive It: At least three business days before closing, per TRID regulations.
• How Realtors Can Help: Reviewing for errors, explaining changes, and ensuring a smooth transaction.

Key Takeaways:

• The Closing Disclosure ensures there are no financial surprises on closing day. It outlines loan details, closing costs, and the exact amount buyers need to bring.
• Errors happen. Encourage clients to review the CD immediately and contact their lender if something looks off.
• Loan estimates vs. Closing Disclosures. The loan estimate provides early estimates, but the CD reflects finalized numbers.
• Buyers can request more time to review the CD, but delaying it may push back closing.

Real-Life Stories & Insights:

• A buyer once caught a $500 error in recording fees. Because they reviewed the CD early, it was fixed before closing, saving them time and money.
• Many buyers don’t realize they can compare the CD to their loan estimate to spot major discrepancies.

How Realtors Can Help Clients Navigate the CD:

• Compare the CD to the loan estimate. Look for changes in loan terms or unexpected fees and help clients understand why adjustments were made.
• Ask questions. If something doesn’t look right, reach out to the lender or title company for clarification.
• Remind clients to bring the CD to closing. Having it on hand can help resolve any last-minute questions.

The Closing Disclosure is More Than Just Numbers

It is the final step before homeownership, ensuring buyers fully understand what they are agreeing to before signing. By helping your clients navigate this document, you’re not just facilitating a transaction—you’re building trust and delivering a seamless experience.

Realtors, are your clients confused about earnest money? In this episode, Sherri Sellers breaks it down into simple, practical steps so you can guide your buyers and sellers with confidence. Learn how earnest money impacts a deal, why it’s crucial for both parties, and what happens once it’s handed over.

What You’ll Learn in This Episode:

• What is Earnest Money? A buyer’s deposit showing commitment to a home purchase.
• Why Does It Matter? Protects both buyers and sellers during a transaction.
• What Happens to It? Placed in escrow until closing—or refunded or forfeited based on the contract.
• Pro Tips for Realtors: How to keep clients informed, avoid wiring scams, and ensure smooth transactions.

Key Takeaways:

• Earnest money is typically one to three percent of the purchase price and signals a serious buyer.
• It can be a deciding factor in competitive markets, sometimes making the difference in a bidding war.
• Escrow serves as a secure holding account for the funds until closing or contract termination.
• Common pitfalls include missed deadlines, wiring fraud, and misunderstandings about refund policies.
• As a realtor, you play a vital role in educating clients, keeping deals on track, and ensuring a smooth transaction.

Real-Life Stories & Insights:

• A buyer offered five percent earnest money in a bidding war and won the deal, even though they did not have the highest offer.
• A buyer accidentally wired their earnest money to the wrong account. Quick action saved the deal, but it was a powerful reminder to always double-check wiring instructions.

• Explain the process clearly to clients so they understand how earnest money works.
• Emphasize the importance of deadlines since missing them can put the deal at risk.
• Review contract terms with buyers so they know when earnest money is refundable and when it is not.
• Stress the importance of security and verifying wiring instructions to prevent fraud.

If you found this episode helpful, share it with your team.
Have questions or topics you’d like Sherri to cover? Let her know.

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Hi Realtors! In this episode, Sherri breaks down what lenders need from the title company and why it’s crucial for smooth transactions. From title commitments to unpaid taxes, understanding these essentials will make you a pro in guiding your clients and keeping deals on track.

Key Highlights:

• Why Lenders Need Title Info:

  • Verify property details are accurate.
  • Ensure the title is free of debts or legal issues.
  • Confirm title insurance is in place for protection.

• Key Documents Lenders Request:

  • Title Commitment: Outlines issues to resolve before closing.
  • Legal Description: Details exact property boundaries.
  • Taxes & Liens: Identifies unpaid bills that need clearing.

• Why This Matters to Clients:

  • Buyers are protected from surprise debts or ownership issues.
  • Sellers avoid delays by addressing title problems early.

• Realtor Tips for Smooth Deals:

  • Review title reports early; ask questions if unsure.
  • Set expectations with clients about possible title issues.
  • Help sellers gather important documents to prevent delays.

Title work isn’t just paperwork—it’s the foundation of a smooth, safe transaction. By understanding what lenders need and how title companies help, you’ll be better equipped to guide your clients with confidence.

If you found this episode helpful, share it with your realtor friends and subscribe to Behind the Deal: Escrow Unlocked for more insights. Got questions or a topic suggestion? Reach out to Sherri—she’s here to help you unlock the secrets of real estate!