You are no doubt anxious to complete the sale of your home and move on with your life. Therefore, you want to see the closing take place as scheduled.
Unfortunately, last-minute problems can arise. Here are four issues to avoid in order to prevent a delay in your closing date.
1. Cloud on the title
You must clear the title before you can sell your home. This means there must be no liens, unpaid property taxes, divorce decrees or other issues involving your right to sell the property. Title issues account for about 11% of the delays in closing. However, this is where a real estate attorney with 35 years of experience who offers both convenience and reasonable fees can assist. Your attorney can perform a search to ensure that there is no cloud on the title before you sell.
2. Final walkthrough problems
You must make sure that all necessary repairs to the property are completed before the buyers arrive for their final walkthrough. Also, everything from the lights, to flushing toilets to the HVAC system must be in good working order.
3. Missing CD
The Closing Disclosure or CD documents contain the terms of the loan your buyer has taken out plus closing costs. The title company must send the CD to the buyer for review at least three days before closing. Your attorney can monitor this process to ensure proper timing.
4. Simple document errors
Finally, you can request documents in advance of closing in order to ensure there are no errors. Mistakes such as misspelled names or incorrect addresses are enough to cause a hiccup in the schedule. Do not let such simple errors delay the much-anticipated closing date.