September 2018

Getting to the finish line

When it comes time to close on a house you're buying, you may feel like you're finally in the "home stretch" — but there are still a few hurdles that can pop up as you race to the finish line.

Here's how you may be able to avoid some of the most common obstacles.

Causes for closing delays — and what you can do

  1. Process

    It's never too early to start prepping for the closing process. Check out our Better Money Habits® article "What happens at closing?" to find out who attends, which documents you'll be asked to sign and more.

  2. Financing

    Issues related to obtaining financing have accounted for 33% of closing delays.Footnote1 To help avoid these problems, contact me with any financing questions in advance and stay in contact with your financial advisor throughout the home buying process.

  3. House title

    A bad title is bad news for buyers because it can lead to ownership disputes down the road. Liens from creditors and outstanding building code violations are examples of title issues you and the seller need to resolve before the title can be cleared.Footnote2

  4. Documentation

    Submit all required documents on time, and make sure your information is accurate. Missing or incorrect documents can get in the way of the closing process. If you have questions, give me a call.

Do you have questions about the closing process? Please feel free to contact me.

 

Sources:
1"REALTORS® Confidence Index Survey, May 2018" REALTOR® Magazine
2"Clear Title," Investopedia.com

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