Buying a home can be a long process. The last thing you want after all your time spent searching for homes and getting the best mortgage rate is to have everything go wrong on closing day. Here are five tips that’ll ensure it goes smoothly.
1. Schedule a date that works best for you: You have every right to request the closing take place at an ideal time for you, and the other parties in the transaction will usually work with you to make it happen. Whether it’s timing the closing around a pay date or the end of a lease, the first step is finding a date that minimizes stress or conflicts.
2. Clarify your payment: Many title companies do not accept personal checks, so give yourself a few days to get a cashier’s check or set up a wire transfer.
3. Double check insurance: You’ll need to arrange for a title insurance policy for your mortgage and purchase homeowner’s insurance (plus flood or earthquake insurance, depending on the area). Make sure your policy begins by your closing date.
4. Do a final walk-through: You’d be surprised to find that buyers skip this step! Schedule a final walkthrough to ensure that all requested repairs have been made and everything is in working order.
5. Take action based on walk-through: If any issues are identified, you may need to delay closing or negotiate a discount before the closing date to avoid delays.
About the Scott Farnan Team
The Scott Farnan Team offers clients over 25-years of real estate and client services experience, all with the indelible backing of Patterson-Schwartz Real Estate, Delaware's largest independent REALTOR® and leader in the Mid-Atlantic region. The Scott Farnan Team is prepared to guide you through the buying/selling process, connect you with trusted partners and aim to reducing the levels of stress that typically come with buying and selling a home. Contact us today to get started with your home buying, selling or real estate investment experience.