If you can properly prepare yourself ahead of time for closing on your home, you won’t be so overwhelmed with the process. Watch out for these typical missteps in your preparation.
1. All contracts and agreements are legal documents, so take the time to carefully review them prior to signing. Any email or document that you receive from your agent, lender or title officer demands your attention prior to moving forward. Don’t fall prey to just scanning materials that require electronic signatures.
2. Pay full attention to what the sellers have stated on their property disclosures. Look for ambiguities and vague responses and investigate any concerns prior to closing. The same care should be part of your thought process when reviewing the title report.
3. A simple but costly mistake is having your name appear in conflicting versions on different documents. Many signatures require notarization, so be sure your driver’s license matches your name on your paperwork. The lender and title officer must be in sync on your legal name, or delays will result from having to have documents redrawn.
4. It is important to have your closing funds ready to wire to the title company upon request. If you don’t allow enough time for the transfer to take place, you won’t be closing on time. If you are planning on handing over your funds drawn on a cashier’s check, it is a good idea to see if the closing agent will accept a cashier’s check. Many do not.
5. Constant communication with your agent, lender and title rep about any financial or life changes will help avoid last-minute modifications in your loan documents and any needed adjustments on other closing paperwork.
Call me anytime with questions regarding your closing so we can avoid any possible delays.