How The Closing Process Works with Freedom Path Investors

How The Closing Process Works with Freedom Path Investors

Hey so i’m assuming at this point you’ve probably seen some of our other videos and found out a little bit about us. So a lot of people ask us at this point well what does the process of actually closing on the property look like. I would love to just show up with a briefcase of cash and you hand us the keys and make it that easy, but we do have to do everything with a third party title company who’s going to handle this whole process from contract to close. When the offer is signed we’ll go ahead and take the signed offer, email it over to the title company so they can start the paperwork and everything on it. We’ll also go ahead and deliver the earnest money to the tile company as well at that point. We prefer working with the same title company. Our preference is to work with True Title, they always provide great service and smooth closing. Typically it takes about two or three weeks for the tile company to go ahead and give us clear title to let us know that we’re okay to close on the property. It’s imperative that we have clear title before we can close on the property. So during this process the tile company is going to go ahead and make sure that all the parties that need to be paid are paid what that is your mortgage company, if there’s taxes on the property that need to be paid are prorated, any kind of liens or the sewer bill that’s all going to be taken care of. The tile company will go ahead and take care of all that for you you don’t have to worry about a thing and if there’s anything that’s going to prevent the sale like a lien that was not known about we’re going to find out during this process and hopefully be able to find a solution to work through that. We’ll actually take care of the transfer of utilities you don’t have to worry about calling around and arranging all that. We’ll call a couple days before closing and call the electric company the gas company and everybody and get that transfer to our name. If you want to call to let them know that make them aware that the property is going to be sold you can but it’s not required. However just remember the insurance is something you’ll have to take care of so go ahead and make them aware about a week before closing that you are selling the property so that they know to cancel that for you. Well before we actually close on the property we’ll want to perform a final walk through just to make sure the house is in the same condition as when we agreed on the sale to make sure the house is still standing the ac didn’t get stolen or anything crazy like that. All the keys to the property any kind of garage door openers or anything that needs to be going with the property just make sure to go ahead and leave that at the title company for us unless other arrangements have been made. It’s really important that we have that stuff ready to go whenever we close on the house. You should hear from the title company about a week before closing to schedule your signing, if you haven’t heard from them before then by that time then you definitely want to let us know and we’ll make sure to contact them. Now it’s the fun part! It’s the actual closing day and this is when you get paid! So on closing day after all parties have signed and the deals funded you’ll you’ll either receive a check or a money wire with your proceeds. And that’s it once we’re under contract there typically isn’t much for you to do up until closing.

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