I showed a house last Friday to a couple that had already made up their mind. They wanted this house. They didn’t want to look at any other houses because this one was perfect.
In fact it was so perfect they wanted it just the way it was. The seller was planning to sell some furniture, lawn mowers, and other personal items at a garage sale. The buyer wanted it all…and they wanted it now. The seller agreed to only take her clothes, a couple clocks and some pots and pans. She left the dishes in the cupboards and the food in the fridge.
The buyers wanted to write a check and move in the same day.
It easy, but it’s not that easy. Some things need to be done:
- You need to know the exact pay-off figures for the sellers loan. In this case the seller had a first and second deed of trust. The lenders for each were notoriously slow in giving pay off information. One lender was the US Government and you know how slow they usually are. This is where an experienced title company came in handy. Mat-Su Title was able to get both pay-offs within three days.
- You also need to know that the seller has a right to sell, and that no one else has a lien on the property. For this you need a title report. Mat-Su Title got that done in one day.
- Then you need to actually sign the closing documents. In a cash sale there are not many documents, but they still need to be done correctly.
We closed today, and the transaction records tomorrow…one week. The closing took 15 minutes at the title company, total closing costs for the buyer…$179.
Not bad for a deal with two different lenders that needed to be payed off. Not bad for the seller either…she doesn’t have much to pack. Tomorrow morning she just loads her clothes in her truck and drives away.
