WE ALL have heard the words “cyber fraud”, “wire fraud”, “email phishing”. We all think, “This would never happen to me.” Wire fraud happens more often than you think.
Have you ever been in a situation with a piece of property under contract, a few weeks before closing, and title work comes in and you are told that an estate needs to be probated? Or have you received a cash offer with a one week closing timeline, but seller is out of town and the title company needs Trust documents? These are situations that we experience far too often, and each of these situations could have been avoided with a well informed and proactive listing agent.
If you ask the right questions and get the right information at the listing, you and your client will be prepared and will avoid a closing disaster. We call this process “OHIO” – Only Handle It Once. These are a few of the pieces of information we suggest you gather:
If you, the listing agent, gather and hold onto these documents, title will not have to ask the Seller for them later. It will give your client time to find everything without a big last minute rush, and if they are in Europe when you go under contract, all will be good because you were proactive and prepared for anything.