We typically get a call from one of the parties saying we're ready to close this transaction . And when that happens, we usually look at all of our documents to confirm are we really ready to go? Because there can be a lot of things moving before the closing gets scheduled. We want to make sure all our title requirements are cleared.
It's funny. Sometimes people don't realize that they've transferred the property into their trust or they forget that they granted a mortgage to Grandma for the down payment. We want to make sure that all those things have been handled once we're pretty clear on that. We know that most of the significant requirements have been cleared, then it really moves into the transaction coordination process.
Yeah, and that process is very dynamic and the single biggest factor there is great communication and responsiveness from all the parties. So we're all on higher alert. We're trying to move this thing now from a desired closing date to an actual smooth closing date. That's great communication promptly responding to document requests. That's where we'll start to key in the numbers. We'll key in the federally required disclosures making sure the buyer has an opportunity. Review the numbers with the seller likewise, and then we move to the actual closing where the closing we like to say “shouldn't be an area where anybody learns anything.” It should be a review and a signal, you know, basically assigning of all the documents. They've had a chance to take a look at in advance. No surprises at the club. No surprises. If you're surprised at the closing something has gone wrong. Exactly. Yeah.
