Central Illinois Title Company

Central Illinois Title Company - Professional Insights for Realtors

Closing Preparation: The Final Week Checklist


Successful closings start with proper preparation. Confirm all repairs are completed with invoices/receipts, verify utilities are scheduled for transfer, and ensure all parties have valid photo ID. Schedule final walk-throughs 24-48 hours before closing, not the morning of.
- Repair Documentation: Obtain invoices, permits (where required), and warranty information for all completed repairs. Take before/after photos for your records. Ensure contractors were licensed and insured. Major repairs may require re-inspection by the buyer's inspector or city officials.
- Utility Coordination: Create a utility transfer checklist including electric, gas, water, sewer, trash, internet, and cable services. Provide buyers with utility company contact information and account transfer procedures. Confirm service activation dates align with closing and possession dates.
- Document Preparation: Verify all parties have acceptable photo identification (unexpired driver's licenses or passports). Married couples both need ID even if only one is on the deed. Out-of-state buyers may need additional documentation. Confirm power of attorney documents are current and properly notarized if anyone can't attend closing.
- Final Walk-Through Timing: Schedule 24-48 hours before closing to allow time for problem resolution. Check that agreed-upon repairs are completed, all systems are functional, and the property is in the agreed-upon condition. Document any issues immediately and determine resolution before closing day.

For more real estate insights and title services, contact Central Illinois Title Company in Decatur. We're here to ensure your transactions close smoothly and on time.

www,centraliltitlecompany.com

Central Illinois Title Company - Professional Insights for Realtors

Appraisal Strategy: Set Realistic Expectations


Market volatility affects appraisal accuracy. In today's market, provide appraisers with recent comparable sales within a half-mile radius and highlight unique property features in writing. Schedule appraisals promptly after contract acceptance—current wait times in Central Illinois average 10-14 days.
- Comparable Sales Research: Provide 3-5 recent sales (within 90 days) of similar properties. Include sold prices, square footage, lot sizes, and key features. Avoid using listings or pending sales as comparables—only closed transactions count.
- Property Feature Documentation: Create a written summary highlighting unique features like recent renovations, premium flooring, updated HVAC systems, energy-efficient appliances, or lot characteristics. Include photos and receipts for major improvements completed within the last 3 years.
- Market Condition Communication: Inform appraisers about local market trends, such as low inventory in specific price ranges or high demand for certain property types. This context helps them understand pricing dynamics.
- Scheduling Strategy: Contact lender immediately after contract acceptance to expedite appraisal ordering. Consider offering flexible appointment times and ensure property access is available with minimal notice. Delays in scheduling can push closing dates back significantly.

For more real estate insights and title services, contact Central Illinois Title Company in Decatur. We're here to ensure your transactions close smoothly and on time.

Central Illinois Title company Since 1980, Central Illinois Title Company (CIT) has approached home buying/selling with the goal of making it as straight forward, cost-effective, and stress free as possible, so all parties arrive at the closing table on time.  CIT is owned and operated by the law firm of Heavner, Beyers & Mihlar...