4 Smooth Sailing Tips For Buyers To Get You Through Closing Unscathed

Closing on that home of your dreams is one of the biggest moments of your life. The contract for your home has been signed, you have a mortgage to pay for your new home, and you’re merely steps away from relocating yourself. But, rough waters lay ahead because closing is the most common time for home sales to fall through. The process is very in-depth so read more about it so you know what’s ahead.

The problem is that closing seldom goes smoothly. Even when you think you’re home free, there are still things that can delay or prevent you from closing. Let’s explore how to close the right way to ensure nothing stands between you and your dream home but smooth sailing.

1. Prepare Your Paperwork

Before the day of closing, ensure that you have all the required paperwork and that every signature is in the proper place.

You’ll need:

  • Your completed mortgage agreement
  • The contract to transfer ownership of the home to you
  • Any reports or estimates pertaining to your new home
  • Home appraisal and inspection reports
  • Any other documentation you received during the home buying process

While you may not need every piece of information, it’s good to have these with you when you formally close on your home. This prevents delays, and reduces your stress.

2. Negotiate Closing Costs

While closing costs are a requirement for many of the services provided when buying a home, they are seldom all necessary. Some fees can be negotiated down, some fees considered “junk” can be removed, and other low-value mortgage fees may be eliminated.

If you have any questions about your fees, then you should be able to obtain a clear list of them. They will have numerical codes that make them easy to look up.

Just bear in mind that you may not be able to eliminate all the overhead. The escrow company still has a bottom line they need to meet to obtain a profit from your home’s sale. Trying to negotiate too much may result in delays while closing.

3. Ask Questions

Questions are great because they can clarify and prevent situations that would cause delays in your closing. Ask questions when you don’t understand something, and don’t be afraid to ask agents for more information about something.

It’s better to tackle a question now before it becomes something that may prevent you from closing on your new home. For example, did you know that switching jobs during closing could put your purchase at risk? Talk everything out with your agent so you don’t have any misinformation and you don’t make any bonehead moves during closing.

If you have a questions about the basics of mortgage then do some online research to get the basics down. Websites like Sente Mortgage, with home loans in Austin, and so many others have an extensive amount of information on mortgages. Everything from the basics to a glossary of terms are listed in an easy-to-access form.

4. Sign the Papers

The last step involves the most important part of closing: signing on the dotted line.

As stated before, you’ll need to sign two important documents: an agreement between you and your mortgage company, and a form of deed transfer.

One important thing to remember is to refrain from ever signing on a blank line. Have someone explain to you what the purpose of each thing you sign is to ensure that you understand the documents you’re signing. It’s crucial to ask questions so you know exactly what’s going on (see tip #3!).

Working with an experienced agent is the best way to ensure your closing runs smoothly. Team up with a First Team agent today so you’re ready for closing and have all of your burning questions answered before the big day. Find an agent online or reach out and we’ll match you with a top agent in your area.

Email us at clientservices@firstteam.com

Call us at 888-870-1142

This guest post is written by Anica Oaks, a professional content and copywriter who graduated from the University of San Francisco. She loves dogs, the ocean, and anything outdoor-related. She was raised in a big family, so she’s used to putting things to a vote. Also, cartwheels are her specialty. You can connect with Anica here.

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