08/27/24

It’s time to talk hurdles – and not the kind just featured in the Olympics. Working with our teams as your title company is a great step in making sure your closing goes as smoothly as possible, but there can be some common reasons for delays.

Here are some potential stumbling blocks to keep in mind. After all, preparation is key in everything, including closing your real estate transaction!  

Credit changes. We’ve said it before, but it’s important not to do anything that could negatively affect your credit score while buying a home. That includes between the time your offer is accepted and the closing. Why? Any shifts in your financial picture even after approval and an accepted offer can still cause problems. Try not to make any sudden financial moves leading up to the closing and alert your loan officer to any potential problems.

Revelations and misunderstandings. Whether issues are uncovered during the home inspection or a final walkthrough, these problems can potentially delay or derail a sale. Here’s where your buyer’s agent can come in by being an expert negotiator. One possible point of contention often not addressed? There’s sometimes confusion about what items inside a purchased house are included in the sale, so it’s important to name anything wanted in the contract specifically.  

Title trouble. Though we wanted to make sure we mentioned this section, you can rest assured that our teams will work hard to solve any title-related issues for you before we get to the closing table. However, tax liens or a claim on the property can postpone a real estate closing. Other things, like covenants or unpaid HOA dues, may be surprises but not deal breakers. That’s why it’s so important to have owner’s title insurance and an included title search provided by us. 

Paperwork. Closing on any kind of property involves plenty of paperwork. There are lots of documents to sign. We’ll be here to guide you through the process, but be ready. Be sure you know how money will change hands, too. (And stay on the lookout for fraudsters.) You’ll also get a Closing Disclosure (CD) form a few days before you close, so make sure you review that to make sure the information is correct. Don’t forget to bring your government ID card, and feel free to ask us any questions up to and on Closing Day. 

Your closing should be an exciting occasion, and our teams do all we can to ensure a celebration. Consider us your coach and your cheerleader as you near the finish line. It’s all worth it!