(770) 225-4710 Ext.110

Sellers

Selling a property can be stressful - BMW CLOSINGS is here to help!

BMW Law works closely with our Sellers and Listing Agents to make sure that the process of selling your property goes through without any problems. BMW Law takes pride in its communication with all parties to keep them informed throughout the process.

The Closing Process

Home Purchase - Before Closing

  1. Once you have accepted an offer, your agent or the Buyer’s agent will provide us a copy of the complete agreement including all exhibits. Please check the contract to make sure your email address and phone number are included below your signature.
  2. The Buyer’s lender also receives the contract and they will send us a title request.
  3. We will need some specific information from you to complete the transaction.
    ◦ Please fill out all Seller Information forms sent to you by BMW Closings completely and accurately and return them within 48 hours.
    ◦ Seller information forms request contact information, forwarding address, all mortgage account information, HOA information, and current water and sanitation bills.
    ◦ Will you be available to attend the closing on the closing date stated on the contract?
    ◦ Will you be available 7 days after the closing date on the contract in case of an unexpected delay in the original closing date?
    ◦ Everyone who is a vested owner (their name is on the Deed) must be present at the closing.
    ◦ If you or any other owner cannot be at the closing then the absent party will need to have a Power of Attorney (POA) executed and have the person appointed as the POA present at the closing. Please let our office know at least two weeks before the closing date and we will provide the POA documents.
  4. We perform a title examination and any issues on title will be addressed and cleared before closing. We will contact you if any liens are discovered to verify the validity of the lien.
  5. If you agreed in the contract to provide a Termite Bond or a receipt for repairs then you will need to email this to our office 2 days prior to the closing AND bring the documentation to the closing.
  6. At least two business days prior to closing we will provide you with the preliminary Settlement Statement for your review. Please review this document closely with your agent to make sure the figures are accurate and your name(s) are spelled correctly. Please contact our office with any questions.

Helpful Seller facts and information

  • Are you available to attend the closing on the closing date stated on the contract?
  • Will all vested owners be present?
  • Is there a need for a power of attorney?
  • If no one is available to attend the closing on the closing date do the documents need to be mailed to you and returned to our office?
  • Provide us with information on any change in circumstance since the original purchase of the home.
    • Has there been a marriage, divorce, or death of a vested owner?
    • If so, then BMW Law will request additional documentation required to complete the closing.

Day of Closing

  • Closing Expectations:
    • You will have to review and sign anywhere from 10-20 pages.
    • It can take anywhere from 45 minutes up to 2 hours for the entire closing.
    • Once complete, we will payoff the current loan(s) on your home, pay the real estate agents their commission, and other fees/costs on the Closing Disclosure disburse you the remaining funds from the transaction. You will select the method of how you wish to receive these proceeds on the Seller’s Information form that you submitted “Before the Closing.”
  • Bring the following to closing:
    • Valid government issued ID: Driver’s License, Passport, ID Card, etc.
    • All keys and garage door openers
    • Any pool/amenities keys (if applicable)
    • Sellers funds (If you need to bring funds to the closing)
      • All funds from a Seller must be sent to our escrow account via wire. Before you wire funds for closing, call our office to verbally verify the wiring instructions so that they are securely sent to the right place.

Seller Checklist

What Does the Seller Need to Bring to the Closing?

  • You and Anyone Else Who holds Title to The Property Being Sold
    All of you must attend, unless, of course, a Power of Attorney is involved. In that case, the original Power of Attorney document must make it to closing along with a copy of the absent party’s photo ID.
  • A valid Photo ID (ex: Drivers’ License, Passport, or Military ID)
    Each seller must provide a valid ID at closing. The title companies require us to obtain a copy of your ID just to make sure that you are the actual person executing documents in your name.
  • Certified Funds:
    It is possible that you will be required to bring funds to closing. Funds should be Wired Funds from your bank. We will be able to provide you with the exact amount you should bring as soon as we obtain your payoff statements from your mortgage company, determine the commissions you are paying, and have received the invoices for the bills to be paid out of your proceeds at closing. This will usually occur 1 to 3 days before the closing. If you bring an amount to closing that is over the amount required, we will provide you with a check for the difference. If the amount you bring is less than the amount required, you may supplement with a personal check.