Closing Services
Kessler & Keirnan provides comprehensive closing services for both REO and conventional real estate transactions. We are proud of our reputation among real estate brokers and agents, lenders, title companies, REO outsourcers and government-sponsored enterprises (GSE’s) for completing the closing process on time and problem free.
REO Closings
Our REO clients include a wide range of asset management companies, servicers, lenders and GSE’s (such as Fannie Mae). We deal from the seller’s perspective with every type of REO closing, including forward, reverse, DIL and short sales, throughout the state of Illinois. Our practice includes:
- Reviewing and providing advice with respect to the executed sales contracts, including attorney review and inspection issues,
- Conducting title curative review and clearance,
- Preparing all required closing documents, such as Deed packages and Affidavits of Title,
- Preparing closing figures for Disclosure Statements, Master Statements and HUD-1’s, and
- Coordinating and completing the closing and funding of the transactions.
Our team works intimately with a wide array of management software platforms, including Equator®, Pyramid Platform, and REOcentral®, to efficiently track, communicate and complete assigned tasks during the REO closing process. We also employ an industry-specific office management system to create and organize client files, assign tasks, and monitor file status. This allows our attorneys and staff to collaborate and interact on a “real time” basis and close a high volume of REO transactions on a monthly basis.
Over the years, we have successfully closed thousands of REO transactions. We are committed to maintaining our proven track record of consistently exceeding the goals and expectations of our REO clients.
Conventional Closings
In the conventional market, we represent individuals and businesses whether on the buyer’s or the seller’s side of the transaction. Our depth of experience representing sellers in the REO market naturally has complemented our robust conventional closings practice. Because we know the seller’s side so well, we are in a unique position to clarify and resolve issues so that the seller’s expectations can be met. This also gives us a distinct advantage when representing buyers because we know what it takes to protect their interests and achieve their goals.
Our conventional residential closing services start with the review and negotiation of the contract. On the seller’s side, our services include:
- Ordering and clearing title,
- Arranging for a survey,
- Obtaining payoffs and required documentation from lenders and HOA/condo associations (where applicable),
- Coordinating the purchase of required transfer stamps,
- Preparing all required closing documents, such as Deed packages, Affidavits of Title, Disclosure Statements, and HUD-1’s, and
- Attending the closing where necessary or desired.
On the buyer’s side, our services include:
- Title and survey review,
- Monitoring and addressing inspection and contract contingency issues,
- Reviewing all required closing documents, and
- Attending the closing with the client.
Our commercial property closing services include the drafting, review and negotiation of the contract, including asset purchase and stock purchase forms of acquisition. We also assist with real property due diligence, including performing title review and clearance, reviewing zoning compliance, reviewing leases and lease assignments, and reviewing UCC filings. In addition, we prepare or review all required closing documents, such as Deed packages, Bills of Sale, Tenant Estoppels and SNDA’s, opinion letters, resolutions and other entity-related documents as well as attend the closing.
