Ameer Elahee
FOLLOW THIS SIMPLE GUIDELINE ON HOW TO ENSURE A STRESSFREE CLOSING
I
f you’re thinking about closing, it apparent that you’ve walked through all the other hurdles of getting approved for a mortgage, hunting for the right home, and negotiating the best deal. The last thing standing between you and achieving the American dream of homeownership now is the closing, which can be tiresome and tense. But if you plan well and conduct some legwork, your closing can be stress-free. Below are some steps that will guide you to achieve a smooth closing.
1. SET A SUITABLE THE CLOSING DATE.
For your closing to be stress-free, the closing date must be in line with your situation. Talk to your title company to set a closing date that aligns with the end of your lease or the date the sale of your existing home will close. If you don’t want to skip work, set a suitable date and time such as an evening or on a weekend. If you are tight on funds, set your closing on a time when your finances will be available such as on end month. It’s also recommended to ask your title company the form of payment they accept whether cash, bank transfer or by cheque, so as to get the payment ready before the closing day.
If you’re using a mortgage, you should acquire a title insurance policy. The title insurance policy is not to protect you but rathe it protects lender in case the seller wasn’t the owner of the home or someone else made a claim on it. To protect yourself, you can acquire an owner’s title policy from the same firm that sold you the title insurance. The owner’s title will protect you against losses from fraudulent claims against your ownership and errors during previous sales. In some cases, sellers initially pay for the owner’s title policy.
WWW.THEPOWERISNOW.COM
l
69
123rf.com
2. GET A TITLE INSURANCE.
