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- November 24, 2025
- Insights
Signing the term sheet is a big step. Structure, rate, and strategy are aligned. But it’s not just a green light to cruise to closing.
The next phase is where everything either comes together or falls behind.
At Encore Finance, we believe the process should be transparent, efficient, and collaborative. That’s why we make sure you know exactly what to expect, what to prepare, and how we’ll help keep your deal moving forward.
What Comes After the Term Sheet?
Once your term sheet is signed and the deposit is in, your loan moves into processing and underwriting.
That’s when the Encore Finance team kicks into gear, reviewing documentation, ordering third-party reports, and ironing out the final details to get you to the closing table.
This phase typically includes:
- A kickoff call with your Encore Finance team
- Collection of key documents
- Title and escrow coordination
- Appraisal and insurance review
- Compliance and entity verification
You’ll never be left wondering what’s going on behind the scenes. We’ll keep you updated every step of the way.
The Kickoff Call: Why It Matters
A few days after signing, you’ll get a call from your loan processor to kick things off.
We’ll walk you through:
- What’s coming in the next few weeks
- What documents we’ll need (and when)
- Any quirks or red flags in the deal
Tip: This is your chance to flag anything unusual or get clarity on next steps. The more we cover early, the smoother things go later.
What to Start Gathering
We’ll send you a tailored checklist, but here’s a quick preview of what we’ll likely need:
- Entity documents (operating agreement, EIN letter, certificate of formation)
- Property documents (rent roll, lease agreements, utility bills, existing payoff info if applicable)
- Insurance binder that meets lender requirements
- Compliance documents (ID, bank statements, tax returns, etc.)
Having these ready (or at least in progress) before the call can save time.
Avoiding Last-Minute Surprises
Most delays don’t come from major issues. They come from small things that catch everyone off guard late in the process.
Here are a few common ones (and how to stay ahead of them):
- Insurance that hasn’t been finalized
- Unclear title history or undisclosed liens
- Missing signatures or outdated entity docs
- Unexpected access issues at appraisal
If you think something might come up, tell us early. We’ll help you get in front of it.
You’re Not Doing This Alone
Some lenders go silent after the term sheet. Not Encore Finance.
Your originator stays involved through closing, and our operations team is hands-on, communicative, and focused on momentum. You’ll get:
- Clear expectations from the start
- Fast, responsive communication
- A process built to avoid bottlenecks
We work like a partner, not a handoff.
Ready for a Smoother Closing?
We’re proactive with our borrowers from day one, and that includes helping you avoid the most common You’ve locked in the structure. Now it’s time to bring it home.
Click here to connect with your Encore team and get everything lined up for a fast, frictionless close.
