might be that you negotiated a deal with the seller for a price already lower than initially wanted. This likely is due to the home selling in a buyer’s market and its location in a declining market area. This may slow or disrupt the closing process while further negotiations are conducted.
#8. Set the Time and Date of the Closing
The closing date is negotiable during the offer and acceptance phase of a home sale transaction. When making an offer, the buyer will include a closing date, and, depending on the seller’s circumstances, it might be acceptable or could be countered with other terms. It's a good idea to check with your closing attorney to get a realistic closing date that they can accommodate. In North Carolina, you only have seven days to close beyond your originally agreed-upon closing date. After that, you're potentially in breach of contract, and the seller could cancel the sale. Don’t choose a date casually. The right date can ensure a smooth closing and reduce closing costs. The wrong date puts the home buyer at risk of not closing on time, needlessly complicating the move, increasing expenses, or potentially even losing your new home. Expenses are prorated through the closing date, so generally, there’s no better day of the month to close. However, in financing a mortgage, there are some differences in what is collected as a prepaid item and when the first mortgage payment is due.
Some advice and tips:
• Give yourself enough time. Don’t set a short closing date unless you’re paying cash and your attorney and title insurer can meet that deadline. There are many steps involved in a home purchase. The loan process takes
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