| The real estate closing was at the title | | | | seller to give him $150 worth of free |
| company. The seller was nervous, because she | | | | propane. Unfortunately, that's exactly what |
| had to do it without her husband, who had | | | | he expected. |
| moved months before to start his new job. I | | | | |
| was a new real estate agent, young and | | | | "I'll walk out of here before I pay for |
| inexperienced. The buyer was a grumpy old | | | | that!" he announced, turning red. The seller |
| man. | | | | began to cry. The closing agent tried again |
| | | | to convince the man that this was fair. He |
| She showed me the closing statement. Of | | | | again refused. |
| course I had seen it, but she wanted to point | | | | |
| out that they owed more than what they would | | | | "I don't care!" the seller almost yelled. |
| get from their home. She would get a few | | | | "I'll give him the propane." The closing |
| hundred dollars from the closing proceeds, | | | | agent left the room to change all the |
| but she still owed $1,000 to her grandmother, | | | | documents to reflect the new agreement. The |
| for help with the down payment. She didn't | | | | seller was losing another $150 on her home. |
| know where she would get the money. | | | | She wiped her tears and said, "I hope there's |
| | | | nothing else." Fortunately, there wasn't. |
| This wasn't my fault, of course, and she knew | | | | |
| that. They had just bought the home a year | | | | Preparing For A Real Estate Closing |
| earlier and had put very little down on it. | | | | |
| They hadn't had time to build equity before | | | | I never did like being a real estate agent. |
| her husband's job transfer came in, and my | | | | But as you can imagine, after that I was at |
| commission, along with the closing costs, ate | | | | least more prepared for real estate closings. |
| what little there was. It was just that she | | | | Here are some of the ways that you can be |
| found all this out this morning. The title | | | | too. |
| company didn't have the closing statement | | | | |
| ready until the last moment. | | | | 1. Ask your real estate agent what will |
| | | | happen at the closing, and make a list. Call |
| In any case, she was happier than she had | | | | the closing company to verify that this is |
| been lately, because the home was finally | | | | correct, and that it is everything. |
| sold and she would soon be joining her | | | | |
| husband. The buyer, on the other hand, wasn't | | | | 2. Make sure the other party to the |
| happy at all. | | | | transaction understands everything the same |
| | | | way you do. Ask your agent to do this if |
| "What's this charge here?" he asked the title | | | | necessary. |
| company representative who was doing the | | | | |
| closing. She explained that it was for the | | | | 3. Have everything you need (papers, cashiers |
| propane in the tank. The seller had paid $300 | | | | check, keys, etc) ready the day before |
| to have the tank filled, and it was still | | | | closing, and check with your real estate or |
| half full. It was standard procedure to have | | | | closing company agent to verify that you have |
| the buyer pay for any propane still in the | | | | what you need. |
| tank. | | | | |
| | | | 4. When agreeing to use a closing company, |
| "I'm not paying that $150!" he insisted. The | | | | make it clear that you will only use one that |
| agent who had sold him the home patiently | | | | has closing statements ready at least two |
| explained that he would have to buy propane | | | | days before closing. This way you can resolve |
| to heat the home in any case, so it was only | | | | any issues that come up before there are |
| fair that he pay. He couldn't expect the | | | | tears at the closing table. |