before closing, so you can close on time.
Then comes the closing, the moment everyone has been waiting for. The buyer, the seller, Realtors®, and maybe an attorney, all sign the final paperwork. The deal is closed and the keys to the home are handed over to you. The closing date is usually negotiated during the offer phase of a home sale. When making an offer, your agent will include a prospective closing date. Depending on the seller’s circumstances, it may be acceptable or may be countered with other terms. Work with your agent closely and don’t choose a closing date casually. The right date can ensure a smooth transaction and reduce closing costs, while the wrong date puts home buyers at risk of not closing on time.
Some advice and tips:
• Give yourself enough time. Don’t set a short closing date unless you are paying cash. As you can see, there are many steps to a home purchase. It takes time for the loan process. A short closing date might predate final loan approval. • Avoid closing at the end of the month, if possible. This is the busiest time. Unexpected issues are better dealt with if title officers and lenders are readily available. • Ask your agent to make your closing align with the actual move from your old residence to the new house. Ideally, the move should be from one to the other without a hotel stay in-between. • Mortgage payments are almost always due on the first day of the month with the payment applying to the preceding
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