Closing Time

Alissa forgot the termite certificate. She was at the closing table. The other agent noticed. The title attorney saved the day. And now we're doing a full closing refresher — because honestly, everyone could use one.

This is episode 238, and yes, the title is a reference to the Semisonic song. Katy also wants you to know that song is actually about a baby being born, not a bar closing. Make of that what you will.

Episode 32 was our original all-about-closings episode, recorded on March 16, 2020 (you may remember that particular week). This one is the updated version — walking through everything from one week out to long after closing day.

Here's what we cover in this episode:

- The termite certificate incident: how it happened, how the closing still worked, and what Alissa learned - The photo book system: Alissa now orders a photo book from the listing photos as soon as they come in — whether or not the house ever closes — and the story of the client whose book was mailed to her mother-in-law's house after they decided to tear down the old one instead - One week out: scheduling sends, appraisal as your trigger, deposit check collection, closing gifts, approaching closing email - The approaching closing email: utilities, final walkthrough, seller confusion about why buyers are coming over, the move-out checklist, what stays and what goes - Why the most common seller mistakes happen because we didn't prepare them — utilities off, items removed that should stay, unprepared for the walkthrough - Checking the settlement statement before closing — not at the table - Why mortgage closings include pro-rated interest: the arrears explanation sellers always need - The title company pet peeve: some title companies will tell you they can't share the settlement statement — they're wrong, and Katy explains what you're actually entitled to see and why - Checking your commission before closing: Alissa's pet peeve is agents who check it at the table - Behavior at the closing table: the Goldilocks principle — friendly, present, and mostly just sit down and let the attorney do their job - Don't scroll your phone, don't start working, don't let the seller word vomit about every quirk of the house - Buyers and sellers exchanging numbers: Katy's take — go for it, that's what adults do, and it removes you from being the permanent middleman - What happens after closing: follow up within a week or two, they're probably tired and stressed and painting, not blissful - Asking for reviews and referrals after closing — Alissa's system and timing - Who did you meet in the transaction? The pool guy, the landscaper, the inspector — they all get a card - Cancel their MLS search notifications, set up a subdivision report for their new address, and add them to the appropriate newsletter list - How Alissa handles paper vs. digital closing documents — and why she went fully digital - The case for staying after closing to talk to the lender or title attorney: don't do it in front of the clients, do it after - Being a great cooperating agent at the closing table — the title attorneys are watching - Following your clients on social media: the photo they post in front of their new house with their family is more powerful than your key photo at closing - The one-time delay story: a cash buyer whose bank put a 48-hour hold on the check — and how they navigated it - What is a dry closing? When everyone signs but the money hasn't cleared - The agent who tried to trick Katy into giving up $500 in repairs by signing the extension but not the addendum — and how the title attorney backed her up - Episode 115: Closing Delays — go there if you want the full drama

Referenced episodes: - Episode 32: All About Closings - Episode 115: Closing Delays - Episode 129: Being a Great Cooperating Agent - Episode 148: Sellers — Listing to Closing

Toast of the week from Linda in Benicia, California — toasting her manager Vida Mango Singh and mentor Rose Hadaway. Cheers to Vida and Rose!

Want to toast someone on the show? Email [email protected].

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Music: Straight A's by Connor Price → https://connorprice.shop/ The Good Life by Summer Kennedy → https://soundcloud.com/summerkennedy/the-good-life Be The One by Matrika → https://uppbeat.io/t/matrika/be-the-one