When it comes to real estate closings, it's up to you to make sure the transaction runs smoothly and doesn't get off track. There's a lot of ground to cover, and it helps if you know your way. This legal briefing has been designed to provide you with a real estate “GPS” so you can cover all the important waypoints, get your bearings when necessary, and make your way to a successful closing.

1. Preliminary Work
2. Preceding the Closing Date
3. Closing
4. Post Closing
5. Use of 21st Century Technology
6. Ethical Considerations

Continuing Education Credits:   

* denotes specialty credits

1. PRELIMINARY WORK
   9:00 - 10:15, Todd G. Jones
   1. Receipt of Contract or Request for Finance
   2. Opening the File
   3. Contacting the Parties
   4. What to Order and From Whom
   5. Documenting the File
   6. Use and Examples of Check Lists
2. PRECEDING THE CLOSING DATE
   10:30 - 11:45, Karl R. Phares
   1. The Reports Arrive
   2. What to Do
   3. What to Look For
   4. Reading a Title Report and Turning it Into a Commitment
   5. Reading Payoff Letters, Surveys and Other Data
   6. The Value of Your Computer
   7. Coordinating a Settlement Date With
      1. Buyer
      2. Seller
      3. Realtor
      4. Lender
   8. Insured Closing Letters
   9. Receipt of Closing Package From the Lender
   10. Preparing the Settlement Statement
   11. Other Documents Involved
   12. Complying With Requests in the Commitment
   13. Circulation of Documents for Approval Prior to the Closing
3. CLOSING
   12:45 - 1:55, Frank P. Sebree III
   1. The Role of the Settlement Agent
   2. Resolving Issues at the Table
   3. Obtaining Identification
   4. Order of Document Signing
   5. Copies
   6. Handling of Funds From All Parties
   7. Making Sure Funds Receive Balance With the Settlement Statement
   8. Deposits and Disbursements
   9. Getting the Documents Ready to be Recorded
4. POST CLOSING
   1:55 - 3:00 David E. Coffelt
   1. Final Certificate From Attorney or Information From Recorder
   2. The Occasional Disbursement of Funds and Escrow Items
   3. Preparing Closing Package to Go Back to the Lender
   4. Policy Preparation
   5. Resolving Any Left Over Matters From the Closing
   6. Releases of Liens
5. USE OF 21ST CENTURY TECHNOLOGY
   3:15 - 3:30, Karl R. Phares
   1. Where We Are
   2. Where We Are Going
6. ETHICAL CONSIDERATIONS
   3:30 - 4:30, Lynn Weddle Judkins
   1. Applying the Rules of Professional Conduct
   2. Good Faith Required in Real Estate Transactions
   3. Lawyers and Title Insurance Companies
   4. Trust Accounts
   5. Representation of Multiple Clients - Conflicts of Interest
   6. Disclosure of Defects in Property

DAVID E. COFFELT is a 35-year veteran of the title industry. As chairman of the Board of Directors of Coffelt Land Title, Inc., he has guided his company's growth from a staff of three to one of the largest independently owned title firms in the metropolitan Kansas City area. Mr. Coffelt is a past president of the Missouri Land Title Association and was that organization's first ever Young Title Person of the Year. As a regular instructor at the Missouri Land Title Institute, Mr. Coffelt has conducted classes on a wide range of topics, including an introduction to the profession, closings, business management, ethics and time management. In addition to numerous speaking engagements for various civic groups and realtor gatherings, he remains very involved in community activities.

TODD G. JONES is manager and counsel for First American Title Insurance Company's National Commercial Services office in Kansas City, Missouri. He is responsible for underwriting and related title insurance matters for commercial real estate transactions throughout the country. Mr. Jones began his real estate career as a real estate attorney. His background has given him the opportunity to experience the customer's perspective and the industry perspective on real estate closings. Mr. Jones has closed and underwritten transactions involving real estate from California to Florida. He has handled a wide variety of complex title issues such as real estate associated with bankruptcy estates, loan workouts, redevelopment projects, mezzanine loans, wind turbines, condo conversions and multi-site, multi-state closings. Mr. Jones is a member of the Kansas City Metropolitan Bar Association's Real Estate Law Committee. He frequently lectures to real estate brokers, lenders and attorneys. Mr. Jones earned his B.B.A. from Southern Methodist University and his J.D. degree from the University of Missouri - Kansas City.

KARL R. PHARES is an underwriting counsel for First American Title Insurance Company's National Commercial Services office in Overland Park, Kansas. He is responsible for underwriting, closing and related title insurance matters for commercial real estate transactions in the Kansas City area and throughout the country. Mr. Phares began his real estate career during law school with a Minneapolis law firm. His background has given him the opportunity to experience the claims perspective of title insurance and real estate closings, and also to understand customers' closing needs and expectations. Mr. Phares has handled a wide variety of complex title issues such as multi-site wind turbine projects throughout the Midwest and lender work-out transactions for troubled loans and properties. He is a member of the Kansas City Metropolitan Bar Association's YLS Public Service Committee. Mr. Phares is a licensed attorney in Kansas, Missouri, and Nebraska. He earned his J.D. degree from William Mitchell College of Law and his B.A. degree from Lake Forest College.

FRANK P. SEBREE III is the owner of the Sebree Law Firm, LLC, where he focuses his practice on real estate transactions. He has significant experience working on national and local transactions involving commercial real estate financing, mechanics' liens, foreclosures, commercial leasing, real estate purchases and sales and real estate components of corporate mergers and acquisitions. Mr. Sebree is a member of the Kansas Bar Association, The Missouri Bar, the American and the Kansas City Metropolitan bar associations and is an affiliate member of the Kansas City Regional Association of REALTORS®.  He earned his B.A. degree from Middlebury College, his LL.M. degree in business law from L'Université d'Aix-Marseille and his J.D. degree from The George Washington University Law School.

LYNN WEDDLE JUDKINS is an attorney at the law firm of Foland, Wickens, Eisfelder, Roper & Hofer, PC. Ms. Judkins has successfully tried cases representing both plaintiffs and defendants in Missouri and Kansas courts. She specializes in business and commercial litigation with an emphasis on construction defect, contracts, real estate claims and lender liability claims. Ms. Judkins also has experience with a variety of product liability and personal injury cases, as well as defense of clients' interests in workers' compensation matters. She served as the co-advisor for the Missouri Bar Leadership Academy in 2006 after completing her term in 2005. Ms. Judkins was one of 11 selected across the state for this academy honor to build diversity in the bar. She is a member of the American Bar Association, The Missouri Bar, the Kansas Bar Association, the Kansas City Metropolitan Bar Association, the Association for Women Lawyers of Greater Kansas City, the American Association for Justice and the Missouri Organization of Defense Lawyers. Ms. Judkins earned her B.J. degree from the University of Missouri-Columbia School of Journalism and her J.D. degree from the University of Missouri-Kansas City.

Please refer to Continuing Education Credit FAQ for general information about seeking credit for your participation in one of our continuing education programs.

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Phone: 866-240-1890

Email: credit@nbi-sems.com