Closing Process for Creative Real Estate Transactions
The closing process starts with an offer submission and agreement. A contract is signed electronically, and a third-party Title Company facilitates the closing. The Earnest Money Deposit (EMD) must be wired to the Title Company within 24 hours to secure the agreement. Our team will provide daily updates through our transaction coordinator, ensuring a smooth and transparent process. Buyers cover closing costs, typically 0.5-1.5% of the sales price. We aim for a seamless experience up to and beyond the closing day.
Key Steps in the Closing Process

1

Mutual Assignment Agreement
Review the contract, Original Purchase Agreement, and execute the Assignment Agreement. Also review other applicable documents such as HOA/Seller disclosures, Mortgage Statements, and Power of Attorney.

2

Opening Escrow
Submit EMD deposit within 24 hours, provide valid ID, LLC documents if applicable, and submit the MY CREATIVE FINANCING Buyers Onboarding Form.

3

During The Escrow Process
Conduct a title search, review title commitment and tax certificate, confirm seller finance details, review closing statement, assist with HOA-related addendums, prepare Power Of Attorney if necessary, coordinate home insurance, and connect Loan Servicing with the Transaction Coordinator. For more details, go through the FAQs or contact us.
Finalizing the Closing
1
Approval and Scheduling
Obtain approval of the closing statement (HUD) and schedule a mobile notary for signing.
2
Document Preparation
Have the Attorney prepare closing documents.
3
Document Return
Return all signed documents to the title company for final funding and recording the deed.
4
Closing Completion
Finalize the closing process and navigate with the TC to get access.
5
Post Closing Setup
Setup Servicing Company and Property Insurance with our TC.
CONGRATULATIONS!