I've been talking about closing your transaction and how you can make some additional profits when you're closing the transaction. Insist that the closing company, closing attorney or title company, provide the closing statement to you at least 24 hours before the closing. This allows you to look for mistakes and negotiate fees. All right, so here's what typically happens at a closing. You get to the closing, they kind of look out the door and they see that the sellers have arrived and the buyers have arrived and then they go back in there and they actually do the paperwork.
Well, we don't allow that anymore. We've learned that we might be sitting there for hours while they're putting together the paperwork. What I've done years ago, I started doing this as just simply telling the closing agent; “Hey, I want to see those documents.” and I say 48 hours, but I'll really take 24 hours before the closing. What I want to do is review those documents because almost always there's some kind of mistake on there and I want you to be careful about that. It's very important. You got to go over the numbers, do the calculations, do your own calculations.
Just because they calculated. It doesn't mean that the person that typed in the computer didn't get interrupted or let's just say maybe not the sharpest knife in the drawer. So let's be really cautious and careful and conscious about that paperwork, particularly asking for it in advance gives you time to look at it, get back to them, make changes, and then you can solve the problem.
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