For many first-time homebuyers, closing can be an absolute mystery. Even sellers can be unsure what is expected of them. That's where real estate agents can make the biggest impact on a home sale. You've been beside the buyer or seller throughout the entire process, now it's time to bring it home. Top agents stick by their client's side from offer to closing - and here's how you can do the same. Learn how to guide both buyers and sellers through Closing and to a happy sale.

2. State Licensing Information.
Guiding Your Buyer and Seller Through Closing
The closing process has become increasingly automated for many home sales, but
it can still be an intimidating experience on both sides of the table. As an agent,
you’ve been a trusted advisor throughout the entire process – and now your client
needs some help to get the extra mile.
Even though you may not need to be at the closing, since it is handled by lawyers
and lenders like New American Funding, you still may need to prepare your buyer
or seller for the experience. As the buyer or seller agent, you should be
coordinating with the closing agent to ensure that your client is in the loop and
fully prepared for closing.

3. State Licensing Information.
Buyers: Before Closing
Between the buyer and seller, the buyer will probably need the most assistance
preparing for closing. As the buyer’s agent, you can do a lot to improve the
experience for them. Their lender will likely assist in collecting fees, but many
buyers may require some education regarding their responsibilities.
• Buyers will need to hire an inspector.
• They will need help completing the loan package with a lender.
• Buyers may be unsure how to purchase insurance and arrange utility accounts.
• Determine where closing will occur. Many closings take place at the title
insurance company, the mortgage lender, or at an attorney’s office, but make
sure your buyer understand where to be.
• Remind them of typical buyer’s closing costs as listed in the good-faith estimate:
• Loan fees and interest
• Homeowner’s Insurance
• Title & fees
• Escrow fees
• Inspection and Appraisal fees

4. State Licensing Information.
Buyers: At Closing
On closing day, buyers will need:
• A valid photo ID for all buyers
• Certified check for the full amount owed including down payment and closing
costs
• Proof of insurance
• Their agent – you should be present as a friendly face to assist the buyer.
• The sales contract
Tip: Prep for Paperwork
Most buyers will be overwhelmed by the
amount of paperwork at closing. Prepare
them for what to expect by explaining the
documents they’ll be asked to sign. For
more information, share our presentation
A First-time Homebuyer’s Guide to
Closing Documents

5. State Licensing Information.
Sellers: Before Closing
During the closing period, your seller will have a handful of responsibilities, and
it’s important to ensure the seller does not check out once an offer has been
accepted. Once the contract is signed and escrow has opened, it’s important that
you help your seller with the following:
• Seller should attend the final walk-through if possible.
• Seller must maintain the house in working order. That means keeping utilities
on and maintaining the premises.
• Sellers may need help reviewing a survey of the property if one was requested.
• They should make any repairs requested by the buyer and agreed upon in the
contract.
• Remind sellers to set termination dates for utilities, cable, insurance, HOA fees
and more. Any recurring expense should be ended.
• Encourage your seller to keep their insurance policy until ownership has
been transferred.

6. State Licensing Information.
Sellers: At Closing
Typically, the seller’s role is fairly minimal at closing, but different cities and states
will have different requirements for closing. As the seller’s agent, you can help
prepare the seller for the intricacies of your market. Typically, sellers will need the
following:
• A valid photo ID of all sellers
• The deed to the home
• All keys and security codes
• A certified check for the Escrow amount
Typical Fees for the Seller
• The mortgage balance
• Escrow, title and attorney fees
• Commissions for agents
• Prorated bills for taxes, utilities, insurance, dues and more

7. State Licensing Information.
Guiding Buyers and Sellers
Through Closing
Learn more about first-time
homebuyer programs at
www.NewAmericanFunding.com

8. State Licensing Information.