Closing on real estate deals is an exciting time in the lives of new homeowners like you. Being only one step away from owning your new home, you will have to do more than simply pay your closing costs to move in. To ensure that the closing of your new home goes smoothly for all parties involved, remember these tips for effectively closing real estate deals:
Don’t Be Shy! Ask Questions
Have questions about the proceeding real estate deal? Ask!
Asking questions of your realtor, the seller, and other parties about the closing process will demystify it and help give you peace of mind. Going into a real estate deal with questions still lingering in the back of your mind can give you doubts later on down the road. There are no stupid questions. It is always better to ask, and your agent will be more than happy to answer your questions.
Review Everything Before Closing With A Trusted Agent
Purchasing a home is a huge legal and financial responsibility. Review all documents with your agent before signing the final documents. Your trusted agents at Merchant of Homes have the experience and knowledge to effectively guide you through the closing process and interpret the lingo.
They will also help you identify unnecessary closing costs, known as junk fees. These fees are sometimes added to inflate the cost of closing. If something seems unusually high, ask about it!
Do A Final Walkthrough Of The House & Renegotiate Offer, If Needed
Before you close on the home, take another walk through the house and give it a final once-over within 24 hours before closing. Be sure to check lights, plumbing, and more to ensure that the property is in an acceptable state. If repairs are needed, you will have to work out repair solutions with the owner through your agent.
Remove Any & All Contingencies Before Closing
If there were any contingency clauses in the real estate contract, make sure that they are fulfilled and removed from the contract in writing. For example, if there was a repair contingency on the home and the seller made all of the required repairs in time, the contingency can be safely removed. If repairs were not made as promised, then you have leverage with the seller and can postpone the closing until the problems are resolved.