Bing Showei
DIS Veteran
- Joined
- Sep 10, 2017
Volume. I had two transactions, both international (both Canadian) sellers. The one Sweet handled took 35 days from offer to close. The other contract handled by *** took almost 3 months.Does anyone know why Jeffrey Sweet closings happen so much quicker than all the others? Every time I've used him, it has been amazingly fast to get closing docs right after passing ROFR and then his office also processes quite quickly. All these other title companies take 3-4 weeks just to get the closing docs??? Curious as to why
The bigger closing agents handle so much volume that a lot of the down time built into closing (often pinned on Disney or the other party), be it for ROFR, estoppel, or closing docs, is in large part there to buffer their throughput times. Disney will send back estoppel in days and the closing company, with its multi-week caveats, bought itself some time to push through the queue, clearing the ones that came in earlier. Your file sits there waiting for attention.
Resale contracts are not huge moneymakers for these companies, and let’s be honest, we’re a captive audience, so unlike what the buyer/seller may be going through, there is zero sense of urgency for them.
And to be fair, add to the mix how overly anxious we can be as buyers, and the process mostly feels interminable.
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