Agenda / Content Covered

1. The Closing Process Explained: A Practical Refresher
   9:00 - 10:15, David Wilson Long
   
2. Preceding the Closing Date
   10:30 - 11:45, David Wilson Long
   
   1. Opening the Closing: How to Get Started
   2. Review of the Sale Agreement
   3. Insured Closing Letters vs. a Title Policy
   4. Coordinating a Settlement Date and Items Not to be Forgotten
   5. The Reports Arrive: Reading Payoff Letters, Tax Searches and Other Data
   6. Receipt of Closing Package from the Lender
   7. Circulation of Documents for Approval Prior to the Closing
   8. Other Documents Involved
   9. Example Checklists
3. Proper Closing Procedures
   12:45 - 2:00, Terra Fleming
   
   1. The Role and Duties of the Settlement Agent
   2. Resolving Last-Minute Issues at the Closing Table
   3. Document Signing
   4. Obtaining Identification
   5. Originals or Copies?
   6. Preparing the Documents for Recording
   7. Receipt and Handling of Funds from all Parties
   8. Deposits, Disbursements and Holdbacks
   9. Reconciling Funds Received on the Settlement Statement
   10. Avoiding Liability Pitfalls
   11. Example Checklists
   12. Post-Closing Procedures: Tying up Loose Ends
4. Reviewing the Title Commitment: What to Watch out for
   2:00 - 3:15, Marcy S. Shelton
   
   1. Schedule A Landmines
   2. Schedule B Bear Traps
   3. Analyzing Land Surveys and Legal Descriptions
   4. Negotiating Removal of (or Affirmative Coverage for) Exceptions
   5. Essential Title Insurance Endorsements to Obtain
   6. Resolving Common Title Defects
5. Ethical Considerations
   3:30 - 4:30, Marcy S. Shelton
   
   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

TERRA FLEMING is an attorney with Johnson Murrell & Associates. Her primary area of focus is on real estate matters. She is admitted to practice in the state of Tennessee. She earned her J.D. degree from Appalachian School of Law.

MARCY S. SHELTON currently serves as investigating disciplinary counsel for the Disciplinary Counsel - Investigations, Board of Professional Responsibility of the Supreme Court of Tennessee. . Prior to that, she spent 29 years in private practice having been most recently associated with the Nashville office of Reno & Cavanaugh, PLLC, where she has extensive experience and exceptional knowledge of real estate laws, title insurance underwriting practices and zoning laws and procedures. Ms. Shelton’s experience includes representing buyers conducting due diligence in commercial real estate transactions, negotiating and drafting commercial and ground leases on behalf of landlords and tenants, and representing lenders in various kinds of secured transactions including workout situations involving special assets borrowers. Ms. Shelton is a member of the Tennessee Bar Association and has served as a delegate for the 21st Judicial District to the Tennessee House of Delegates. Ms. Shelton is a member of the American, Davidson County and Williamson County bar associations. Ms. Shelton earned her B.A. degree, with high honors, from the University of Tennessee at Knoxville and her J.D. degree from the University of Tennessee, College of Law.

DAVID WILSON LONG is managing principal in the Knoxville law firm of Long, Ragsdale & Waters, P.C., where he practices in the areas of real estate development, commercial law, environmental law, banking and corporations. He earned his B.S. degree, magna cum laude, from Wake Forest University and his J.D. degree from the University of Tennessee, where he was Order of the Coif. Mr. Long is a member of the Knoxville, Tennessee (past chairman, Real Estate Section) and American (member, Mortgages and Other Debt Financing Committee, Real Property and Probate Section) bar associations.