Attention Realtors: Here’s What Your Knoxville Title Company Needs From You

Knoxville realtors play a critical role in the closing process.

As a Knoxville title company, we depend on realtors to keep us informed about the transaction and provide us with the information we need so that everyone is on the same page.

If you’re a realtor,  here is what your Knoxville title company needs from you to ensure that the closing process goes smoothly.

Fully Executed Contract + All Amendments And Addendums

Your Knoxville title company needs a fully executed contract, including any amendments and addendums. This will ensure there are no last-minute hiccups.

Contracts frequently change throughout a real estate contract. When changes are made to the contract after the home inspection or appraisal, be sure to inform your title company. There are so many times where these changes are made and a copy is never sent to the title company.

A title company works with a buyer’s mortgage lender to prepare the final closing disclosure. It’s important that your title company has all of the up to date information, otherwise, they may be left scrambling at the last minute.

By keeping your title company informed, you’ll help ensure that closing goes smoothly. When that important information is not caught until the last minute, it can cause delays in closing.

Termite Inspection

A termite inspection is another thing that your Knoxville title company will need. Even if a termite inspection isn’t going to be done, it’s important that your title company know that.

A termite inspection is an item that needs to be signed at closing, which is why it’s important that a title company have a copy of it in advance. If the buyer or seller isn’t attending closing, it can be helpful to have a copy of the inspection early on so that your title company can be sure that it gets signed.

If there is a charge for the termite inspection or termite, it’s also important that your title company knows this since they help prepare the closing disclosure. This will ensure the money gets collected at closing and that there is no last minute scrambling.

Any Invoices To Be Paid At Closing

There are many times where repair invoices or other bills need to be paid at closing. Be sure to provide a copy of the invoice to your Knoxville title company well in advance of closing.

Sometimes in the chaos of a real estate transaction, title companies are not informed about these invoices, which can result in these items being left off the closing disclosure. And, unfortunately, these missing items aren’t always caught until the last minute.

There are times where certain charges or credits will not be allowed on a closing disclosure by a buyer’s lender. This is why it’s very important that a title company knows about any invoices in advance, that way, if there is an issue all parties can work together to find an alternative solution.

By sending any invoices in advance, the closing process will go smoother. Also, be sure to inform the title company of the amount to be paid and who will be responsible for paying it.

Any Pertinent Information About Your Client

Finally, it’s important that you let your title company know any pertinent information about your client. Knowing this information can help your Knoxville title company do their job better.

There are certain situations where it can help to know the following information:

  • If buyer or seller isn’t attending closing
  • If buyer or seller will need a power of attorney
  • If the transaction is an estate
  • If there is a divorce involved

As a realtor, you know more about your clients than your title company does. If there is anything important that we need to know, the more you tell us about your client, the smoother closer closing can be.

Bottom Line: Communication Matters

Communication with your Knoxville company is essential. When all parties are on the same page for closing, it makes things so much easier. Last minute hiccups and surprises are much less likely to happen when all parties do their best to communicate.

Are you looking for a Knoxville title company?  Look no further than Title Group of Tennessee! We are dedicated to providing timely, efficient, and accurate closing services to our clients. Please do not hesitate to contact us about the services that we offer or with any questions you may have regarding the closing process.  Give us a call at 865-392-5801, or send an email to [email protected].

We welcome the opportunity to work with you and are happy to assist you in any way that we can.