Hi! It’s Lou Brown. I’m back with another of my 101 cash flow accelerators. And one of the ones that is very important for your future is when you can “Control The Closing”.
Listen, I’ve learned over my years that when it’s my title company or attorney that’s closing the transaction, then I am a lot closer to any issues that might be happening around getting that closing done. For example, let’s say that something weird popped up in the closing when they inspect the title. And it’s something that could be easily fixed. But if I don’t have a relationship with that title company, it might be something I don’t find out for days. It could impact the closing. There could be real issues that I’m not abreast of. So I like to know exactly who’s closing the transaction and that they are a member of my team.
So in the Purchase and Sale Agreement, it always says that “Seller will choose closing agent”. And in fact, we go ahead and put in there who’s going to be closing the transaction. The name of the attorney title company that’s going to be closing the transaction. So that’s important. Put that in your contract. I have this built into our agreement on the selling side.
You can learn more about this great, what we call standard Purchase and Sale Agreement for the selling side. When you go to StreetSmartInvestor.com/tools and you can see all the different tools that we have for helping you to be successful in your real estate business. I’m looking forward to seeing you soon. Yeah, baby!
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