What to Remember for a Settlement
- Please keep an eye on the Buyer’s and Seller’s Checklists to make sure that all is accomplished in advance of settlement.
- Please arrange for your walk-through inspection.
- If there is a termite inspection required, please arrange to have a copy of the report faxed to us before closing and bring the original to settlement. Lenders usually require us to include the original termite report when returning their loan documents. Also, if we are to collect for this cost, please advise us in advance.
- If this is a condo, please arrange for the necessary condo association documents to be delivered to Purchaser. If we are to collect for this, please advise us in advance. It is helpful to provide a copy to the title company so we can make sure it is complete and it includes the status of the condo dues.
- If your firm has an earnest money deposit in excess of commission, please bring or mail a check in advance for the excess to settlement made payable to “Avenue Settlement Corporation”.
- Please arrange for the payment of interest on any earnest money deposit directly to Purchaser.
- If the date of closing changes, please keep in touch with us to make sure that the title report and survey are updated on time in order to meet the new settlement date.
- Obviously, please let us know immediately if there is any change in the settlement date or time.
- Selling agent: please check with the buyers’ lender to make sure the hazard insurance policy (or master insurance certificate, if a condo) has been received.
- Please remember that we do not have the listing agreement. We will assume that it is a 3%-3% commission split unless you specifically alert us otherwise. If your brokerage has a flat commission fee, please notify us as soon as possible so we can make sure it is collected on the closing statement.
We look forward to working closely with you to provide a smooth settlement that will reflect your dedicated, professional standard.