Why You Should NEVER Attend The Closing Of A Property Where The Seller Will Sign - Street Smart Cash Flow Accelerator #41 Do all paperwork for closing and advance. Do not attend the closing where the seller will sign. You've already signed, saves time and renegotiation well. This is one of the most powerful and and valuable tips I could give you. It used to be that you'd be actually be excited to go to a closing and you'd wait and you'd do the paperwork and everybody's sitting around the table and it's a big day in your life and you're purchasing an asset and it's going to set you up for a better life than the one you've got. And how good is that? It's fantastic. The challenge is that that's often an opportunity for some kind of breakdown and if there's a breakdown, if there's an upset with some of the charges, like I've said to you before, sometimes you look at a closing statement and all of a sudden there's all these additional costs and fees you didn't think about. Maybe there was a lien on the title. There are additional costs and fees that you didn't even consider. Well, alarm bells sounding, you better pay attention. Anything might happen, so when that happens, you could actually lose your deal over it. How do I know this? I've experienced this, so what I want you to do is be thinking ahead and say, wait a minute. What I'm going to do is require the attorney not only to send the paperwork in advance, I'm going to get it signed and back to the attorney in time prior to the closing. Then you don't even have to be there, and I'm talking about buying and selling as well, so you don't even have to be present. Nobody said you had to be. You've already signed the paperwork, you agreed to it. Now the seller simply needs to agree to it as well. Now, it's not that you're pulling the wool over their eyes, the transactions being closed according to the terms of the purchase and sale agreement that they already entered into. So there should be no issue and no reason for you to be present.
To watch the next part of the video go to: What day of the month to close when buying Multi-Family or properties with tenants in them https://youtu.be/Mu573VvCoeI
Investors have long regarded Lou’s training, systems and forms as the best in the industry. He has been quoted as an expert by many publications including The Wall Street Journal and Smart Money Magazine.
Lou draws from his wide and varied background as a real estate investor. Having bought property since 1977, he has invested in single-family homes, apartments, hotels and developed subdivisions, as well as building and renovating homes and apartments. These experiences have given him a proving ground for the most cutting-edge concepts in the real estate investment industry today.
