DATE: 10/21/2021
NAME OF POSITION: Homes Closing Manager
PERSON’S SENIOR: VP of Marketing and Sales
PURPOSE (The reason why this position exists):
One of Equity & Help’s most important positions in the company. Equity & Help is reliant on you to close on a home in a timely fashion with everything being correct on documents. You are responsible for making sure the buying process happens and a home is ready for an investor immediately upon closing.
VIEWPOINT (The viewpoint that an employee should have to be successful at the job): Closing a serious part of our company, and it should be taken as such. The weight of responsibility falls heavy on your shoulders since our company starts with a home that you will procure. That said, taking extra care to be proactive as well as detail-oriented will be an aid. Each document must be signed accordingly and looked over thoroughly. Insurance must also be placed on home as well as all correct information must be looked over ie (deed and title).
SKILLS REQUIRED:
Microsoft office suite, Google Suite, knowledge of internet scrapers, E&H Matrix, Basic understanding of legal jargon and contracts
RESPONSIBILITIES OF THE POSITION:
Make sure all contracts are signed, legal and binding
Verify all vesting information is correct
See that title company has your requirements
WEEKLY ACTIONS:
Check weekly for recorded deed
STATISTICS:
EMD’s on properties
# Deeds recorded
# Properties put in E&H Inventory
# of offers put in
Valuable Final Product:
Homes that have closed quickly and are immediately ready for investor purchase.
GLOSSARY OF TERMS:
Final Closing Documents: The Closing Disclosure is a form that lists all final terms, final closing costs, and the details of who pays and who receives money at closing. Also included may be a copy of unrecorded deed, title insurance as well as wiring instructions.
Quit Claim Deed A quitclaim deed releases a person's interest in a property without stating the nature of the person's interest or rights, and with no warranties of that person's interest or rights in the property.
Warranty Deed A warranty deed is a document often used in real estate that provides the greatest amount of protection to the purchaser of the property. The deed pledges or warrants that the owner owns the property free and clear of any outstanding liens, mortgages, or other encumbrances.
Special Warranty Deed A special warranty deed is one in which the grantor is only guaranteeing that there are no outstanding claims or liens against the property arising from their ownership. They're not giving any assurances about issues that may come up due to the actions of previous owners.
Quit Claim Deed A quitclaim deed releases a person's interest in a property without stating the nature of the person's interest or rights, and with no warranties of that person's interest or rights in the property.
Title Insurance Title insurance is a form of indemnity insurance that protects lenders and homebuyers from financial loss sustained from defects in a title to a property.
Sold As Is: Sellers list their homes for sale as-is when they don't want to do any repairs before closing. It means there are no guarantees from the seller that everything is in working condition. If you buy an “as-is” home and later find major problems, you're responsible for the repairs.