I know the home buying experience can be stressful and overwhelming. With a Realtor by your side, you’re at least assured that closing will be streamlines and become easier. You have to know what to expect and do some legwork to help make it go as smoothly as possible. Here are a few tips to help prevent potential problems.
- Make sure you read and understand every detail of your contracts. This is probably the biggest purchase of your lifetime. Make sure to read all emails being sent to you. This allows you time to ask questions and get any misunderstandings clarified. There is nothing wrong with taking your time during closing day, but giving yourself time to read and understand everything should help you feel confident in what you are signing.
- Make sure your name is consistently the same throughout the documentation. You will be required to provide government ID at closing. If your name on the ID doesn’t match your paperwork, you will have to either get a new ID that matches or redo the paperwork to match your ID. Always make sure to share your full legal name with the lender, your Realtor and the closing agent when carrying out a transaction.
- Make sure everyone is informed. Any changes that occur prior to closing, like changing jobs, are important and must be relayed to your Realtor and Lender.
- Verify Payment requirements and banking information. Before sending money via a wire transfer cashier’s check, make sure to call the closing agent and verify all information needed so that the transfer is correct. Check the amount for closing costs. To avoid being scammed, call the closing agent to verify all information and the amount.
- Don’t every be afraid to ask questions before and during closing. Always ask for clarification on what you don’t understand. No questions are too big or too small. Clarify any issues that may be bothering you.
- Confirm the property is in the agreed upon condition. Take a last minute trip and make sure the condition of the property is in the agreed upon condition written in the contract with the seller. If there is any issue, a delay in closing may be appropriate.
These tips are meant to help guide you through closing. There are other scenarios that may pop up but these are the most common. Good luck on your closing!