When Closing on the Sale of a Property Check Your Documents!!!

So with closings coming up the first of the week, I want to remind you again that you need to really scrutinize your HUDs before closing on the purchase or sale of a property. I found several mistakes on the HUD on the sale of a property we close on first of next week. Total amount of errors was over $4,200!! On the sale of a property you need to check to make sure that payoffs are correct, that per diem items like taxes are correct and that the realtor fees are correct. Then double check title fees and doc stamp fees, recording and insurance costs if there are any. It’s a lot more difficult to correct an error after closing than before a closing!! I haven’t seen the HUD yet on our other closing.

When you are at the closing table be sure to check addresses and spelling on the Warantee Deed and other documents and make sure the Tax Id number is correct on the 1099 that will be submitted to IRS.

These are all items that need to be checked to ensure a successful closing. For all the information you need on finding more deals for your real estate investing business be sure and check out my website at www.marketingmagiclady.com While you are there be sure and sign up for my FREE monthly newsletter!!

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