Flipping a house isn’t for everyone. There are countless hours of renovations, negotiations, and sleepless nights that go into turning a junk house into a showpiece. After all that work, it would seem that the closing should be the easiest part; however, this process can be a little more complicated than many flippers think. But it doesn’t have to be! Real Estate Elevated is here to help you close the deal quickly and easily.
If you’ve seen our Real Estate Elevated reviews, you will see how many have been helped by Real Estate Elevated workshops. We know our business and helping house flippers is what we do. We’ve compiled some helpful tips to help you complete the house flipping process and get started on your next flipping project.
Schedule Enough Time
After all the hours you’ve put into your property, you don’t want to mess up the deal at the closing. Take a careful look at your schedule and make sure you allow enough time to work through the whole process. A busy day filled with appointments is not the day to schedule a closing. Not only will it add to your stress level, but it could leave your clients feeling undervalued, which could make them rethink the transaction. You can’t move onto the next project if you don’t close the deal on your current house flip.
Schedule for Everyone Involved
It isn’t just your schedule you need to be mindful of. As you get close to the closing date, make sure that all parties have an idea about what to expect, timewise. Life is busy and schedules can change quickly, so being flexible is a good thing. As the closing date approaches, be sure to confirm the date, time, and location of the closing to make sure everyone is still able to attend. By communicating with all the people involved, you have a better chance of a smooth transaction and getting top dollar for your flip.
Keep Things Positive
A successful real estate transaction maintains the delicate relationship between buyer and seller through mutual respect. By keeping the deal positive, both parties are likely to leave the table feeling satisfied. If you’re not prepared or have other appointments to get to, your client can feel unappreciated, which can cause problems at closing. The best compliment a client can pay you is through a referral. No matter what type of experience they have working with you, they are going to tell their friends and family about it. You might as well make it a good one.
There is an old saying that goes, “Don’t let a nickel stand in the way of a dollar,” and this is definitely true in a real estate deal. This transaction is about more than just the purchase price. That’s why we suggest going in with a cashier’s check, prepared to cover the closing costs in full. Think of how attractive that is for the buyer. It can be a relatively small amount of money in the short-term but can have a big impact on the sale.
Have Everything the Buyer Needs
Walk through the house and figure out anything the new owner will need to work everything and feel at home. House keys are a given, but what about garage door opener remotes? Is there an alarm system that they’ll need codes for? If you put in new appliances, you should have the manuals and warranty information in an obvious spot so they’ll spot them when they walk through their new home.
Inspections, Verifications, Etc.
Exactly what you need to have done before closing depends on your state, but usually you’ll need a deed to sign over, required inspection reports, proof of any repairs done as part of the sale, and home safety certifications for the installation of items like smoke detectors. A house is a major investment and many people are very cautious as they walk into this situation. If you don’t have something you should, it’s probably just an honest mistake, but if the buyer thinks you’re trying to get away with something, the sale could fall apart.
Cool, Prepared Confidence
You might notice that many of these items come down to you being prepared and in control. Give the buyer no reason to feel nervous. Walk into closing with a smile and a firm handshake and keep your head up high because you know what you’re doing and you’re ready for this. They can feel confident about this purchase because you have enough confidence for the whole room. It makes a difference. The real estate business can be a complicated process, especially when it comes to balancing your clients’ needs and your financial obligations. But you don’t have to go at it alone. Our Real Estate Elevated workshops are designed to help you master your business and be the best asset for your clients. Our programs can help you gain the tools you need to run a successful real estate business.
You can learn more about our program by reading some of our Real Estate Elevated reviews or by contacting us.
