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.

Whether you're new to the real estate arena or have been practicing for years, this guide can help you refine your methods and make your job easier. You will learn exactly what you need to do before, during and after the closings. Confidently guide your clients through real estate transactions - order today!

1. Preliminary Work
2. Preceding the Closing Date
3. Closing/Post Closing
4. Deliveries of the Parties
5. Ethical Considerations

1. PRELIMINARY WORK
   9:00 - 10:15, Gayle M. Montalto
   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 Checklists
2. PRECEDING THE CLOSING DATE
   10:30 - 11:45, Gayle M. Montalto
   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/POST CLOSING
   12:45 - 2:00, Dean S. Talaganis
   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
   10. Final Certificate From Attorney or Information From Recorder
   11. The Occasional Disbursement of Funds and Escrow Items
   12. Preparing Closing Package to go Back to the Lender
   13. Policy Preparation
   14. Resolving Any Left Over Matters From the Closing
   15. Releases of Liens
4. DELIVERIES OF THE PARTIES
   2:00 - 3:15, David V. Allen
1. Identified in Schedule B1 of the Title Commitment
1. Formation Documents (Articles and Operating Agreements)
2. Authority Documents (Resolutions and Incumbency Certificates)
3. Good Standing Certificates
4. Identification of the Signing Parties
5. Pay Off Information for Lien Holders
6. Cancellation of Mortgages and Liens, Assignment of Rents, Financing Statements
7. Deed of Conveyance
8. New Mortgage, Assignment of Rents, Financing Statements
9. Owner's/Seller's Affidavit
10. Gap Indemnity
11. Title Company's Standard Conditions of Acceptance of Escrow
2. Identified in the Purchase Agreement
1. Formation, Authority and Good Standing Documentation (as Above)
2. Certification of Representations and Warranties
3. Deed of Conveyance With Permitted Exceptions
4. Instruments to Resolve Title Issues
5. Due Diligence Items (Phase 1, Survey, etc.)
6. Money
7. Keys
3. Identified in Loan Commitment of Loan Agreement
1. Formation, Authority, Good Standing, Prior Lien Release, Instrument of Conveyance Documentation (as Above)
2. Loan Documents
3. Opinion Letter
4. Due Diligence Items
5. Permits
6. Construction Draw
4. Other Items
1. Wiring Instructions
2. Escrow Instructions
3. HUD Settlement Statement
4. Conveyance Fee Statement
5. ETHICAL CONSIDERATIONS
   3:30 - 4:30, Richard S. Koblentz
   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 V. ALLEN is a partner in the Cleveland office of the law firm of Taft Stettinius & Hollister LLP. He practices mainly in the area of commercial real estate transactions, including acquisitions and sales, leasing, financing, as well as residential low income housing tax credit projects and various other related matters and intellectual property. Mr. Allen also teaches both business law and ethics at Walsh University's School for Professional Studies. Prior to joining Taft Stettinius & Hollister LLP, Mr. Allen practiced law since 1987 in many areas of general practice, including criminal and civil litigation, domestic relations, bankruptcy, workers' compensation, personal injury, and municipal law; and served for four years on Strongsville City Council. He earned his B.A. degree from Baldwin-Wallace College and his J.D. degree from The University of Akron School of Law. Mr. Allen is a member of the Cleveland Bar Association and its Real Estate Section.

RICHARD S. KOBLENTZ is an attorney with Koblentz & Penvose, LLC, where his general practice of law includes legal ethics and discipline law, civil litigation, real estate, white collar criminal defense, small business, criminal defense, domestic relations and probate. Cincinnati Magazine listed him as an Ohio Super Lawyer, from 2003 to 2008, and Inside Business Magazine has named him one of Northeast Ohio's Leading Lawyers over the past nine years. Mr. Koblentz is past trustee and vice president for the Cuyahoga County Bar Association. He also was past trustee and secretary for the Cleveland-Marshall Law Alumni Association, and was a member and secretary for the Cuyahoga County Bar Association's Ethics Committee. Mr. Koblentz is a member of the Legislative Committee of the Ohio Association of Criminal Defense Lawyers. He is of trial counsel to the Cleveland Metropolitan Bar Association's Grievance Committee. He is a frequent speaker for various seminars on legal ethics and other topics for several organizations, including the Ohio Judicial College, the Cuyahoga County Bar Association, the Cleveland Metropolitan Bar Association and the Akron Bar Association. Mr. Koblentz is a guest lecturer for the Cleveland-Marshall College of Law, where he lectures on topics of professional responsibility and criminal law. He is a member of the Ohio State and  Cleveland Metropolitan bar associations, the National Association of Criminal Defense Lawyers, the Ohio Association of Criminal Defense Lawyers, the Cuyahoga Criminal Defense Lawyers Association and the Cleveland-Marshall Law Alumni Association. He earned his B.S. degree from The Ohio State University and his J.D. degree, cum laude, from  Cleveland-Marshall College of Law.

GAYLE M. MONTALTO is an attorney in Cuyahoga Falls, Ohio, where she focuses her practice on real estate law. Her clients include commercial and residential buyers and sellers, commercial and residential lenders and borrowers, and landlords and tenants. Ms. Montalto has extensive experience in title insurance, survey matters, conveyance and recording procedures, and escrow and settlement issues. She has written and presented numerous seminars for professionals in the real estate industry on topics which include Section 1031 Tax Deferred Property Exchanges; condominiums, PUDs and cooperatives; representation of buyers and sellers in residential transactions; and review of the Ohio Home Ownership Protection Act. Ms. Montalto is a member of the Akron Bar Association and the Ohio State Bar Association. She earned her bachelor's degree from Denison University and her J.D. degree from The University of Akron School of Law.

DEAN S. TALAGANIS a partner with Morris|Hardwick|Schneider and the district president for the firm's Ohio operations. His responsibilities includes managing the REO title and closing office, underwriting, title examination, and the processing of residential and commercial loans and closings. He regularly markets the firm's legal and title services on a local and nationwide basis. He is also a periodic speaker on matters related to title insurance and closing issues, foreclosures, collections, and ethics. Mr. Talaganis was the vice president of Business Development & Client Relations for a large title agency prior to joining Morris|Hardwick|Schneider, overseeing the states of Ohio, Michigan and Kentucky. A member of the Ohio Bar and Ohio Land Title associations, Mr. Talaganis is a licensed attorney in Ohio, admitted to practice before the U.S. District Court (Northern and Southern districts of Ohio) and the U.S. Claims Court. He is also a licensed title insurance agent in Ohio and Michigan. Mr. Talaganis earned his B.S.B.A. degree from Youngstown State University and his J.D. degree from Capital University Law School. He has had articles published by the Ohio Land Title Association, National Foreclosure Professional news magazine, REOMAC monthly newsletter, Servicing Management magazine, and DS News.

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

Additionally, our team of credit specialists are here to answer your specific credit-related questions weekdays 7am - 5pm Central:

Phone: 866-240-1890

Email: credit@nbi-sems.com