Welcome back after the extended Holiday weekend.
Last week, we touched on the things that can hamper a Closing ("Oh, Those Crazy Closings!"), and today, we are going to revisit the topic, since we are hopeful that more Closings will be happening, which would signify a robust Housing Market.".
One of the most respected Real Estate Websites, Trulia.com, has published a handout that provides 4 tips for Buyers to help them proactively prepare for the Closing. These tips are extremely crucial, and can make the difference between you and your new "keys"!
Tip #1 - "Halt Major Money Moves". Basically, try to remain low-key in terms of deposits, credit limits, etc (any "money-related activity that could change your financial status in any way").
Tip #2 - "Tell the Whole Truth". Everything that you do or say will be verified multiple times, i.e. credit, assets, marital status, employment. Getting a Mortgage is tougher than it was a few years ago, and the process has become much more strict than ever before.
Tip #3 - "Closing Documents: Read Ahead". Know any corrections or changes in your documents before you get to the Closing table vs. the day of the Closing. This is so important!
Tip #4 - "Watch the Calendar". Take control of deadlines for inspections, etc. Constant communication with real estate and mortgage brokers regarding dates is key to your deal (dates can impact interest rates, etc.).
Overall, some great tips from Trulia. Is there anything else you can suggest?
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Have a Great Week, and Happy Rent-to-Owning !
Regards,
Rob Eisenstein
HomeRun Homes Blog: http://blogging.lease2buy.com
HomeRun Homes Websites: http://www.lease2buy.com and http://www.homerunhomes.com
TAGS: #closing #creditlimits #assets #documents #inspections #trulia #realestatebroker #mortgagebroker #mortgage #interestrate
