Disclaimer: This article is intended for the purposes of providing information only and is to be used only for the purposes of guidance. This article is not intended to be relied upon as the giving of legal advice and does not purport to be exhaustive.
The process of purchasing a home is stressful enough without the added anxiety of worrying about your closing. The last thing you want to do is be worried that something will go wrong and delay the entire process.
That is not how you want to start your life in a new home! That is why we put together a quick list of how you can ensure a smooth real estate closing.
Involve a Lawyer Right Away
The sooner you involve a real estate lawyer in the process, the more time your legal team has to prepare for closing.
Additionally, there may be potential problems that may arise. The sooner your legal team is part of the process, the sooner they will discover those issues and bring them to your attention.
Understand Your Purchase or Sale
It is important that you understand the process. If you are unsure of anything at all, ask questions. Ask lots of questions.
If you are the buyer, ask questions about closing costs and fees. If you are the seller, ask your realtor if they can provide a list of all expenses that will be associated with selling your property.
Your real estate team, which includes your realtor, your mortgage lender, and your real estate lawyer, is there to educate you and make sure you are empowered during your transaction. They should clearly explain different documents to you and make sure you fully understand the impact of the decisions you are making along the way.
A great real estate lawyer will explain everything in a manner that is easy to understand.
Plan and Budget
Besides the purchase of the house, there are many closing costs that you must account for, including any inspections and legal fees. Make sure that you have budgeted to account for these costs.
In addition to your budget, it may be a good idea to have an emergency fund set aside for any additional expenditures that come up. For example, if the house needs repairs or maintenance after you move in and they are not covered by insurance. It is best to discuss these possibilities with your real estate agent so that you can plan ahead.
Communicate, Communicate, Communicate
Communication is key in any working relationship, but it is critical for a smooth real estate closing.
You must be quick to inform your team if there are any material changes that may affect your deal, such as changing employers or any issues that come up with the house you are selling.
On the day of closing, it is particularly important to be in communication with all of the different parties. One of our clients recently said, “The team communicated with us regularly leading up to our closings and both closings were handled quickly and with as little stress as possible.” At Beeksma Law, we believe that communication is the cornerstone to a smooth transaction.
Have Confidence in Your Professional Team
Of course, the best tip we can give to ensuring a smooth real estate closing is to have dedicated professionals who are committed to your success!
At Beeksma Law, we have earned our clients’ trust by providing dedicated and attentive service. We are ready to help you through your next real estate transaction.
Contact us today for a free consultation to make sure that your closing goes smoothly!