is due for the month of July from the date of closing. If you close early in the month, say on the 10th, you will have to pay for 21 days. If you close on the 25th, you will have to pay six days of interest. If money is tight, closing toward the end of the month will reduce your immediate out-of-pocket expenses. If you schedule a closing and fail to complete it on that day, there are consequences. You’ll face increased closing costs the next month in addition to any penalty for the delay. Although most sellers will work with you if the transaction does not close on time, failure to close opens the door to cancel the sale. This is most likely to occur in a seller’s market, in which the seller may have taken backup offers that are potentially better than yours. Closing can be held in any agreed-upon location, e.g., at the attorney’s office, or at your lender’s or title company’s offices. Since 2020, after the COVID lockdown, it became the new normal to sign electronically and it was not necessary to go to any office for the closing. 9. Be Present at the Final Walkthrough A final walkthrough is the last chance to see your future house before you buy it. Commonly, it’s scheduled 24 hours before the closing. The property should be in the condition that’s specified in your sales contract. You may inspect for any changes made subsequently to the home or the inspections. Check if everything is in order and if any additional replacements are necessary. If there’s an issue, the closing day could be shifted, or, upon agreement, the repair costs may be submitted to the escrow account. Don’t skip this step because missing the final walkthrough is one of the reasons for closure delays. 10. Get Ready for Your Closing Day Now you have run the escrow marathon and survived all the possible obstacles in your way. It’s finally time to sign the papers and get the keys to your new home. Prepare all the paperwork that you’ve collected during the
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