Frequently Asked Questions

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ClosingGuard by Foolproof Closings is a specialized service designed to manage funds set aside for post-closing construction or repair work. This service offers a streamlined, efficient alternative to traditional fund management methods, ensuring timely completion of necessary fixes after a real estate transaction has closed. 

The assurance amount refers to a portion of the funds from a real estate transaction held by Foolproof Closings. This amount is reserved until specific conditions, typically related to completing standard features or upgrades, or even property repairs identified during the final walkthrough, are satisfactorily met. 

We manage the assurance amount by overseeing and administering the designated account. Our team ensures all conditions for remediation are met before releasing funds to the respective parties, maintaining the integrity and purpose of the holdback. 

Yes, your funds are yours and securely held with our partner bank, a regulated financial institution. This arrangement ensures that your money is safely managed and remains under your ownership, with Foolproof Closings providing expert account management. 

ClosingGuard provides builders with a safeguard-like solution that simplifies the transaction closure process, particularly in complex situations. Our service is akin to providing a protective layer that ensures project timelines are met,  and client satisfaction is maintained.  

Foolproof Closings offers builders a solution that introduces simplicity into the transaction closure process when it is most needed. Our service ensures a smooth and efficient holdback management, which is crucial for maintaining project timelines and client satisfaction.  

To learn more about how Foolproof Closings and ClosingGuard can streamline your next home closing, please contact us for a consultation. Our team is ready to provide the solutions you need for a hassle-free closing experience.