Buying a house is one of the biggest purchases you will make in your life, so you want to make sure the transaction goes as smoothly as possible. Here are a few tips on how to avoid complications that may happen on or before closing day:
1. Get preapproved. Finding out exactly how much of a mortgage loan amount you can borrow will help you negotiate a better price as well as present the seller with more attractive terms. This will also keep you from losing out to another prospective buyer who has already arranged financing.
2. Set aside funds for closing. Besides the down payment on your home, there are also closing costs to consider. These can’t be borrowed funds, so you need to make sure you set aside enough money to pay these at the end of the transaction. Your lender will tell you the total amount of fees associated with your loan so that you can get the funds ready before closing.
3. Get a home inspection. Always get a home inspection before buying a house. An experienced home inspector will be able to spot any flaws or potential problems that need to be addressed before you take possession of the house. Be there during the inspection so that you can ask questions or raise any concerns you may have.
4. Search the title. Have your attorney look over the title records of the property to ensure that you are purchasing it from its legal owner and that there are no complications with it.
5. Agree with the seller on a move-in date. Set a date with the seller when you can take possession of the home and start moving in. Make sure you put this in writing so as to avoid any confusion or possible conflicts.
6. Avoid closing at the end of the month. This is always the busiest time of month for most closing agents and lenders. Try to avoid closing at this time so that the people on your team are less likely to be harassed or time-pressured, and will be able to give you their full attention. That way, there will be fewer chances of mistakes being made.
If you are planning to buy a home, let The Incorvaia Team make the process as easy as possible for you. Call us at 440-879-7130 today!
