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2012-04-18 12:21:42
6 Tips to Help Closing your Home go Smoother!

Closing on a home can be joyful or horrific. Follow this advice for a smooth end to your settlement.




You have found the house of your dreams and you are ready to go forward with the deal and sign the contract.  You have gotten approved for the mortgage and even hird movers.  Now for the most important part: THE CLOSING.

In a fantasy world, closing should be a small formality, where you sign the dotted line, exchange checks for keys and shake hands.  However this is not a fantasy world, which means that if you and the professionals you hired don't prepare, your closing could be a disaster.

1.  Ask Questions

The key to a successful closing is knowing what to expect and communicating with all parties involved. 

A week before closing, talk to those representing you, and discuss what to expect.

Don't be afraid to bother your loan officer or your real-estate agent, make sure everything is on task, don't just assume everyone knows what they are doing.

2.  Be Ready for Human Error

Sometimes , due to mis-communication mistakes are made.  Errors can be made that could be so crucial, that deals could be cancelled.  Make sure of every detail. If something does not seem right, question it and make sure it is corrected.

3.  Review Loan Documents in Advance

A good way to ensure that everything is going as planned it to request from your lender the documents to review before closing.   By law, you have the right to review the closing-settlement statement, or the HUD-1 form, at least 24 hour before closing.  Compare these forms to the good-faith estimate you should have recieved when you applied for the loan.

Have everything you are going to sign before you sign it!

4.  Take a Check

Yet, another reason to review the loan documents before closing is to know how much money you need to bring to closing.  And absolutley, you will need a check at closing, more that likely a certified one.

5.  Take the Day Off or Close After You are Off Work

If your closing goes smoothly, it should take less than 30 minutes, but you will not know for sure if your closing will go as planned until it is done.

There may be unexpected  and unforeseen delays, especially if you are closing at the end of the month. 

6.  Expect the Unexpected - Including Typos

You are sitting in your lenders office ready to go.  All you need to do it sign.  You are double-checking the numbers on the mortgage documents and find something is incorrect, the interest rate is wrong, there was a typo on the sale price....etc. 

Because of a simple typo, your loan documents may need to be sent back to the lender to be re-done.

How should you prepare for these unexpected delays?  Try to schedule your closing earlier in the day. And do not wait until the last day on the contract to close.

 

LINDA SECRIST - LINDA SECRIST & ASSOCIATES - EVERYTHING THEY TOUCH TURNS TO SOLD!

Linda Secrist's Salt Lake City Real Estate Home Page Salt Lake City Real Estate Draper Utah Real EstateHolladay Utah Real Estate Sandy Utah Real Estate •  South Jordan Utah Real Estate Salt Lake Cities Top  Real Estate Agent



 

 
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