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What a Commercial Mortgage Broker Must Do at Closing

"Your role in this process is that of asome unclarity with regard to your fee). Then
bridegroom at a wedding: stay out of the way,turn off you cell phone, be pleasant, stay
be on time, and keep your mouth shut." -Tomout of the way and give up your seat to the
C. Korologos, U.S. Ambassador to Belgium,elderly, pregnant or disabled and any legal
describing the advice he gives totype  person  who  needs  your  space.
presidential nominees. Quoted in the New York
Times,  September  4,  2005.And try not to fall asleep because at some
point, a settlement sheet will be passed
A commercial mortgage broker's duties at thearound for various dignitaries to sign-you're
closing table are, most of the time, muchnot one of them. Nonetheless, you must ask to
like the role of a presidential nominee. Ifsee it, and you must inspect it carefully to
you're feeling almost expendable as you sitmake sure that your company's name is on it
at the closing table, if you're being treatedand that the amount to be credited to you at
as unessential baggage, that's because,closing matches your invoice. Look for your
unlike everyone else, you've gotten almostfront and back end points, if applicable.
all of your work out of the way beforehand.These appear on different places on the
Congratulations! On the other hand, if you'restatement. If the numbers are off, ask the
very busy and important at close, that's notlender's attorney for an immediate
a good sign for anyone! That means that therecorrection.
are  a  lot  of  loose  ends  to  tie  up.
That's really the only semi-technical task
So let's say your closing is goingyou should be doing at the closing table. Of
well--extremely well. There are still a fewcourse, if the closing "blows up" in your
critical  things  left  for  you  to  do.face, you might end up dealing with any
number of issues, including negotiating with
First, as Ambassador Korologos advises, showthe title company, the lender, attorneys on
up on time (more or less...). Try not toeither side, and of course, your own client.
spill coffee on yourself along the way, andIn situations like these, of course, you
bring a copy of your invoice and of yourcould end up dealing with anything you didn't
engagement letter with you (in case there isadequately resolve before the closing.



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