The Closing Adventure
The purchase of a home should be a joyous occasion. But closing on a home can prove a stressful experience, too, as buyers scramble to provide plenty of documentation to secure financing, quickly uncover imperfections that could prove costly later, and review and negotiate terms
Experts advise those in the market for a new home look to partner with trusted professionals, from a real estate agent, mortgage lender, home inspector, and title agent. All of whom should advocate for their best interests to avoid closing issues.Even experienced buyers who think of closing on a home as old hat sometimes encounter unexpected snafus.
It’s impossible to ensure that the whole process will be smooth, there are always little hiccups. That’s why it’s smart to hire an agent.Hiring a Buying agent is also a good move. An ideal individual is someone who is a full-time real estate pro, is quick to respond to communications, knows the area, and has the necessary computer skills and marketing tools.
Before starting your home search, it pays to get pre-approval for a home loan through a mortgage professional. This way, when you put an offer on a house, you know what you’re going to work with on financing. Ask questions until you feel comfortable, whether it’s one question or 10. Securing financing in advance helps you steer clear of surprises later.
Don’t forget one person that will make a huge difference in the process; the home inspector. Regulations vary by state and not all require licensure for home inspectors. Still, hiring an inspector to look at the whole house is much wiser than hiring an individual contractors to look at each part. Home inspectors look at the house as a system. Paying close attention to who you put in this role is very important.
While no guarantees come with any home purchase, experts reiterate that hiring professional advocates who put buyers first from loan to title work remains the best bet for the smoothest close. For title work, always get quotes in writing. Ask your agent for a list of title companies, but because affiliations sometimes exist between these parties, further evaluate these options before deciding to hire.
When you prepare for a storm, you are able to ride it out in the worst case scenario. Who knows, you may get lucky and have clear skies.
