Home Sold sign with agent

If everyone always did everything they said they’d do, we’d all be a lot richer. Unfortunately, tasks are overlooked, and the ball is often dropped. If you want to have successful closings, you must have strong “follow-up” skills to catch problems early in the process. Follow-up on everyone and everything.
We can’t begin to tell you the number of closings that almost fell apart, or would have fallen apart had we not kept a watchful eye on the entire process to make sure that everything was completed when it needed to be. Here’s a typical scenario: you’re wholesaling a house and you have just 30 days to get it closed before the contract with the Seller expires. You find a buyer who can get a loan and close before the expiration. Then a few days before closing you find out that the loan isn’t ready and closing must be delayed two weeks, but the Seller already has another Buyer ready to pay more than your price, so they refuse to extend your contract. You just lost the deal.
 
So what is follow-up? We used to think it meant staying in touch with the buyer to make sure that everything was completed for the loan. Then we learned that the buyer is often a newbie and clueless of what needs to be done. Mortgage brokers just usually respond “Everything looks great” until they can’t close the loan. So the real trick to following-up is to speak to the final decision maker for each step. This works whether you’re selling a retail house or a wholesale house, or even if you are the buyer/borrower. The goal is to close without delays.
 
Assuming that you have already received a pre-qualification letter from the lender, and ensured that the lender will loan on the deal (i.e. no issues with title seasoning, assignment fees, inhabitability of the property), the first step is to follow-up with the broker/lender that all of the application paperwork was submitted, and have they forwarded it to the lender? If not, what is still required? Determine if the lender requires a termite letter, appraisal, and a survey (most lenders do). If so, have they all been ordered? When is each to be completed? Keep following-up until you verify that each has been delivered. You also want to verify that the appraisal was sufficient for the loan.
 
If we don’t already own the house, we order a title report as soon as we go under contract with the Seller to discover any defects early in the process, and begin resolving them. Closing attorneys usually do not order the title report until just before closing to receive as current information as possible. But if they find problems, it could delay your closing. It is well worth the $125 to run title ahead of time, and eliminate delays.
Once the broker has forwarded the paperwork to the lender, the next step is to verify the loan has gone to underwriting. If not, what is the delay? If so, was the loan approved? Do any conditions need to be met? What are they and who is handling them? Make sure that once the conditions are met, the loan is returned to underwriting and approved.
 
Verify that the closing has been scheduled with the attorney, and that they have cleared title. Find out if and when the loan package will be forwarded to the attorney. Then remind all of the players of the date and time of closing, to bring a picture ID to closing, and to bring any funds required in a certified check.
This seems like a lot of work that should be handled by other people, but the reality is that often times something is overlooked. Through your diligent follow-up efforts, problems will be detected early and corrected, allowing your closing to occur flawlessly and on schedule

Stucco renovated home

Home renovations are meant to improve or upgrade a house, but another upside to renovations is all the energy-saving technology that exists in this day and age, which can save you money in the long-run.  For example, installing new windows can cut down on energy costs.  A great way for homeowners to save money is to install stucco, or the high-tech version, called Exterior Insulation and Finish System, or EIFS.  While most homeowners refer to EIFS as stucco, stucco is not the same thing as EIFS, and vice versa. 

Stucco is applied wet and dries as a very durable, dense coating.  EIFS is composed of three separate layers and while very similar aesthetically similar to stucco, it has many more energy-efficient properties than traditional stucco. 

So why choose stucco or EIFS as your next home improvement project?  Aside from the cosmetic benefits, EIFS is also a great insulation. In contrast, traditional stucco is not as effective for insulation, as it is applied right onto concrete or brick, whereas EIFS can be installed onto those as well as masonry, plywood and gypsum-based sheathings. This versatility in combination with the multiple layers is what makes EIFS so energy-efficient.  Although most contractors don't do traditional stucco any more, there are still good quality stucco contractors out there. If you think that your home has adequate insulation, and just want to update the outside of your home, stucco is the less expensive option.  Of course, alternatively, long-term savings costs associated with the added energy efficiency of EIFS might be beneficial to some homeowners. 

Applying stucco is an art that takes years to master, and installing it properly requires extensive knowledge and experience. Choosing the right contractor for the job is a minefield of fly-by-night operations and shoddy sub-contractors, and combined with the many nightmare stories you inevitably hear from friends and family, it is understandable that most homeowners view home renovations with more than a little trepidation. Which is why sites like StuccoContractors.ca exist. 

They have a team of personally hand-picked contractors that they have worked with for a minimum of 5 years. These contractors specialize in stucco and EIFS, so homeowners can be assured that the project will not just get handed off to a sub-contractor.This is a Canada-wide service, so no matter where you live in the Great White North, you can be sure that you'll be matched up with the right contractors for the project.  Homeowners who are seeking expert stucco or EIFS installation should look for a local stucco contractor who residents trust. 

And as with any major home improvement project, research into all aspects of the project is absolutely vital before beginning. There are so many options to improve the value of your home; make sure the choice is right for you and your home. 

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