Hi! It’s Lou Brown. With another of my 101 ways for real estate investors like you to win, close more deals and to accelerate your cash flows. Now, today’s tip is number 41. Review, approve and sign all paperwork for closing in advance. Do not attend the closing where the seller will sign. You’ve already signed, saves time and renegotiation. Well. This is one of the most powerful and valuable tips I could give you. It used to be that you’d be actually be excited to go to a closing and you’d wait and you’d do the paperwork and everybody’s sitting around the table and it’s a big day in your life and you’re purchasing an asset and it’s going to set you up for a better life than the one you’ve got. And how good is that? It’s fantastic is the answer. The challenge is that that’s often an opportunity for some kind of breakdown. And if there’s a breakdown, if there’s an upset with some of the charges, like I’ve said to you before, sometimes you look at a closing statement and all of a sudden there’s all these additional costs and fees you didn’t think about.
Maybe there was a lien on the title. There’s additional costs and fees that you didn’t even consider. Well, alarm bells sounding, you better pay attention. Anything might happen, so when that happens, you could actually lose your deal over it. How do I know this? I’ve experienced this, so what I want you to do is be thinking ahead and say, wait a minute. What I’m going to do is require the attorney not only to send the paperwork in advance, I’m going to get it signed and back to the attorney in time prior to the closing. Then you don’t even have to be there, and I’m talking about buying and selling as well, so you don’t even have to be present. Nobody said you had to be. You’ve already signed the paperwork, you agreed to it. Now the seller simply needs to agree to it as well. Now, it’s not that you’re pulling the wool over their eyes. The transactions being closed according to the terms of the purchase and sale agreement that they already entered into. So there should be no issue and no reason for you to be present.
Well I hope this has been a value to you, I know it has been for me, I’ve, it’s saved me endless challenges because of doing it this way. I’d love to share more of my profitable tips with you. How can you get more? Well, depending on where you’re seeing this tip, simply like it or love it. Comment on it. Subscribe and share it with your friends. I would so much appreciate that. Thank you. And I look forward to seeing you soon. Yeah, baby!
If you want to listen to our Podcast, click here:
