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Post Closing Process
Our Post Closing Process is crafted to make life easier by setting up all your accounts seamlessly and effortlessly. This service covers everything from transferring / establishing utility accounts and HOA accounts to updating/replacing your Homeowners Insurance Policy and refreshing mortgage information. Consider it your hassle-free pass to smooth sailing from now and beyond.
What Post Closing is
01
Setting up the deal for the lifetime of the deal
02
Ensuring you have complete control and access over all relevant accounts
03
Make bill payment process simple and easy
04
No need to reach out to the Seller post closing
What’s included
01
Insurance Set up (Either establish new policy or add additionally insured)
02
HOA Set up (Either New account or transfer)
03
Utility Set up (Water, Electric, Trash)
04
Set up Auto pay
Why you need Post Closing/benefits
01
Setting up accounts sounds easy, but it is actually a very nuanced process in which multiple things can go wrong
02
Makes it super simple on you so you can continue to close on more deals, Dispo this property, or finding a tenant
03
Centralized login information to make it easier for Property Managers and Portfolio managers
04
Makes it easy to forecast and budget for the future. You’re constantly aware of any changes in the bills
What can go wrong (examples)
Short payments on underlying lender because you simply weren’t aware of the price increase
Short payments on underlying lender because you simply weren’t aware of the price increase
Can’t sell the property because you do not have access to payoff statements, mortgage statements, or the original note
Can’t sell the property because you do not have access to payoff statements, mortgage statements, or the original note
Lender transfers Servicer, now you don’t know where to send the payment because you don’t have access to the account
Lender transfers Servicer, now you don’t know where to send the payment because you don’t have access to the account
Need to file an insurance claim, but you are not listed anywhere on the policy so your claim will not be processed
Need to file an insurance claim, but you are not listed anywhere on the policy so your claim will not be processed
Disconnected Bills and credit getting bad
Disconnected Bills and credit getting bad
Unexpected bills because you are out of the loop
Unexpected bills because you are out of the loop
Can’t confirm payment receipt in the case of foreclosures
Can’t confirm payment receipt in the case of foreclosures
Tenants complain because of disconnected utilities
Tenants complain because of disconnected utilities
Repeated HOA violations because are unaware of how to pay the bill
Repeated HOA violations because are unaware of how to pay the bill
HOA has a crazy arrears amount because you did not know how to pay
HOA has a crazy arrears amount because you did not know how to pay
Double pay on insurance because previous policy was not canceled
Double pay on insurance because previous policy was not canceled
Blender puts forced place insurance on the property (expensive) because they have no record of the new policy
Blender puts forced place insurance on the property (expensive) because they have no record of the new policy
Angry Seller because the mortgage payment is still being deducted from their account even though they sold the property
Angry Seller because the mortgage payment is still being deducted from their account even though they sold the property