Agenda

1. Preceding the Closing Date

   1. Opening the Closing: How to Get Started
   2. Review of the Sale Agreement
   3. Insured Closing Letters vs. a Title Policy
   4. Coordinating a Settlement Date and Items Not to be Forgotten
   5. The Reports Arrive: Reading Payoff Letters, Tax Searches and Other Data
   6. Receipt of Closing Package from the Lender
   7. Circulation of Documents for Approval Prior to the Closing
   8. Other Documents Involved
   9. Example Checklists

2. The Closing Process Explained: A Practical Refresher

3. Reviewing the Title Commitment: What to Watch out for

   1. Schedule A Landmines
   2. Schedule B Bear Traps
   3. Analyzing Land Surveys and Legal Descriptions
   4. Negotiating Removal of (or Affirmative Coverage for) Exceptions
   5. Essential Title Insurance Endorsements to Obtain
   6. Resolving Common Title Defects

4. Proper Closing Procedures

   1. The Role and Duties of the Settlement Agent
   2. Resolving Last Minute Issues at the Closing Table
   3. Document Signing
   4. Obtaining Identification
   5. Originals or Copies?
   6. Preparing the Documents for Recording
   7. Receipt and Handling of Funds from all Parties
   8. Deposits, Disbursements and Holdbacks
   9. Reconciling Funds Received on the Settlement Statement
   10. Avoiding Liability Pitfalls
   11. Example Checklists

5. Post-Closing Procedures: Tying up Loose Ends

   1. Final Recording Information or Certificate from Attorney
   2. Conducting Post-Closing Title Searches
   3. Releases of Pre-Existing Liens
   4. Preparing and Returning the Closing Package to the Lender
   5. Post-Closing Covenants
   6. Resolving Any Remaining Closing Issues
   7. Example Checklists

6. Ethical Considerations

   1. Applying the Rules of Professional Conduct
   2. Good Faith Required in Real Estate Transactions
   3. Lawyers and Title Insurance Companies
   4. Trust Accounts
   5. Representation of Multiple Clients - Conflicts of Interest
   6. Disclosure of Defects in Property