The Real Estate Show

Radio Show Notes 08/27/24 Tuesday: 

Read a summary of the show below or 

Listen Here

Watch Live Facebook Video Here

Real Estate Closing Made Easy: 10 Proven Strategies for a Stress-Free Real Estate Closing Process

By Eric Willner, Investor, Coach, and Host of The Real Estate Show, America’s longest running daily radio show about real estate.

Welcome to The Real Estate Show – South Florida’s #1 Real Estate Radio Show and America’s longest-running daily real estate show. My name is Eric Willner, known as the Voice of Real Estate and the creator of the Automatic Landlord System for owning cash-flowing real estate profitably and hassle-free.

It’s a virtual real estate seminar in every episode, and today we’re diving into a topic that is crucial to your success—Real Estate Success: Step 7 - Ready, Set, Close! Your Ultimate Guide to Close on Your Real Estate RightEstate. Today, we'll talk about the final stretch in your real estate journey—sealing the deal, finalizing loans, walking through the property, and ensuring everything is perfect before closing escrow.

Success in real estate isn’t just about finding the right property or getting the best deal; it’s about ensuring everything is lined up for a smooth close. As the old saying goes, “It’s not over until the ink dries.” This phase—Step 7: Ready, Set, Close!—is where all of your hard work pays off, or where small missteps can turn into big headaches.

Today is Transformation Tuesday, and as we start, let's begin with our Tuesday Meditation:

Tuesday Meditation: "Transformation Tuesday"

Lord, as we embark on this Transformation Tuesday, we seek Your transformative power in our work and personal lives. Guide us to be agents of positive change in the real estate landscape. Bless the properties we handle, that they may become places of warmth, security, and transformation for those who dwell within. Amen.

Now, let’s kick off today’s show with some thought-provoking questions.

Did you know?

• 20% of homebuyers face unexpected closing delays due to financing issues?
• Nearly 15% of deals fall through after the final walkthrough because of unexpected property issues?
• More than 50% of buyers don’t understand all the costs involved in closing, leading to last-minute financial surprises?

These are just a few of the alarming statistics about the current market. It’s important to be aware of these potential pitfalls so that you can plan accordingly and avoid them altogether.

In today’s highlighted tools and techniques, we’re diving into the practical side of Step 7: Ready, Set, Close! Yesterday, I shared 10 reasons why this phase of your real estate journey is so critical. Now, let’s break them down into actionable steps that will guide you through the closing process smoothly.

10 Steps to Real Estate Success: Step 7 - Ready, Set, Close!

1. Finalize Your Loan
   Make sure you’ve locked in your interest rate and completed all final documentation with your lender. Don’t leave anything to chance—communicate regularly with your loan officer to ensure everything is on track.
2. Complete the Final Walkthrough
   Before closing, schedule your final walkthrough to ensure that the property is in the condition you agreed upon. Verify that any agreed-upon repairs have been made and that no new issues have arisen.
3. Review Closing Costs
   Understand your closing costs, which include loan origination fees, title insurance, and escrow fees. Have a clear breakdown of what you’ll owe at closing to avoid surprises.
4. Check the Closing Disclosure
   The Closing Disclosure details your loan terms and costs. It’s required to be sent to you three days before closing, so review it carefully to ensure accuracy.
5. Secure Homeowners Insurance
   Your lender will require proof of homeowners insurance before they fund the loan. Ensure you’ve secured coverage that meets your lender’s requirements and protects your new investment.
6. Transfer Utilities
   Schedule your utility transfers in advance to ensure you’re not moving into a home without power or water. This often-overlooked step can make moving day much easier.
7. Bring Identification and Payment to Closing
   On closing day, make sure to bring your government-issued ID and the payment for closing costs. Usually, this is a cashier's check or a wire transfer. Double-check with your title company to confirm their requirements.
8. Sign All Documents
   Closing day will involve signing a stack of paperwork. Take your time, and don’t be afraid to ask questions if you don’t understand something. You’re finalizing one of the biggest financial decisions of your life—make sure you’re clear on the details.
9. Take Possession of the Property
   Once the funds have been transferred and the paperwork is signed, you’ll receive the keys to your new home or investment property. Congratulations—you’ve officially closed!
10. File Your Deed
    After closing, the title company will file your deed with the county. Make sure to obtain a copy for your records and confirm the deed has been recorded correctly.

As you can see, closing a real estate deal involves multiple steps and careful planning. The Real Estate Show is your partner throughout this process, ensuring you’re equipped with the tools and knowledge needed for success. Remember, our expertise can be the difference between a smooth, successful transaction and one fraught with stress.

Call to Action:
Have specific questions about home loans or closing? Text "LOAN" to [Your Show Text Number], and we'll tackle your questions on a future show! And don’t forget to join us next week for [Topic of Next Show].

Now, for those who are renters, buyers, and investors out there, there are resources available to help you make the right move. That’s why we encourage you to attend our Tuesday Night Workshop, where we’ll dive deeper into these strategies and provide actionable steps you can take today.

Let’s talk about the tools and strategies for achieving your real estate goals in the coming year.

1. Experts Teaching About Real Estate Home Ownership
   At our free workshops, learn directly from seasoned real estate professionals who can guide you through the complexities of home ownership and investment.
2. Path to Home Ownership Free Workshops
   This workshop will walk you through everything from getting pre-qualified to securing your first property.
3. Financial Calculators
   Use our specialized calculators to determine what you can afford, your potential cash flow, and your long-term ROI.
4. A Financial Plan
   Successful real estate investing starts with a clear, actionable financial plan. Our workshops provide you with the tools to create one.

Sponsor Break:
Today's show is brought to you by TimeToFixMyCredit.com. If you’re looking to improve your credit and boost your financial future, visit TimeToFixMyCredit.com. Text “Credit” to 561-861-2366 to get started today.

In conclusion, today we talked about Real Estate Success: Step 7 - Ready, Set, Close!—the final steps that lead to successful real estate ownership. Here are the key takeaways:

• Finalize your loan and review all documentation.
• Perform a thorough final walkthrough.
• Understand your closing costs and ensure your Closing Disclosure is accurate.
• Make sure all your documents are in order on closing day.
• Take possession of your property and ensure your deed is filed correctly.

Remember, tomorrow is our Wednesday Midweek Mortgage and Market Report. You won’t want to miss it—I'll be giving you up-to-date market insights and crucial mortgage information to help you navigate the ever-changing real estate world.

Thank you for tuning in today. Don’t just listen—use our show to get started in real estate investing. Attend our free online workshops and tune in every weekday to The Real Estate Show—a literal seminar in every episode!

Also, you can listen to the entire 30 minute broadcast of any day’s edition of The Real Estate Show by clicking on the audio link on that days summary post. You can also watch the Facebook Live video at www.facebook.com/TheRealEstateShow.

Want to know more? If you are serious about real estate and paying off debt, then find out more on today and every day’s episodes and learn more about Real Estate Investing and learn HOW TO by listening to The Real Estate Show with Eric Willner , Live every weekday morning at 9 o’clock (EST) on Florida’s Money Talk Radio stations WWNN AM1470, FM 95.3 and FM 96.9. You can also hear us on the free apps: iHeart Radio and TuneIn. Recorded Rebroadcasts are available 24/7 on Facebook. Please share this and our Facebook updates.

Eric Willner is the Host and Founder of The Real Estate Show, an informative show about how to buy, own, and improve real estate the right way, on autopilot. - The Automatic Landlord way. (AutomaticLandlord.com) You can reach Eric Willner at Eric@Ericwillner.com or 888-595-7779.

Also listen to the rebroadcasts on demand on Facebook.com/TheRealEstateShow 

Eric Willner is the Host and Founder of The Real Estate Show, an informative show about how to buy, own, and improve real estate the right way, on autopilot. - The Automatic Landlord way. (AutomaticLandlord.com) You can reach Eric Willner at Eric@Ericwillner.com or 888-595-7779.

#TheRealEstateShow, #The.Real.Estate.Show, #EricWillner, #AutomaticLandlord, #Saving vs Investing, #ThirdHome, #BestRealEstate, #WSBR, #AM740, #FM 96.9, FM 103.9, #WWNN, #AM1470, #MoneyTalkRadio, #TheRealEstateLife, #speakingempire, #GKIC, #makeamericagreatagain, #F.I.R.E., #The Real Estate Show, #propertymanagement, #rent, #Saving, #Investing, #Debt Solutions, # So You Can Retire Debt-free, #RetireDebtFree, #VA Loan, #AutomaticDebtSolution, #Tax, #MWR