Tips For Successful Mortgage Closing

by Christine Mastis 08/18/2019

Pick a date 

The best time to set a closing date is at the end of the month as interest at the table is at its lowest then, and you'll want to pick a closing date around the same time your current lease is set to lapse. 

Take your time

The conclusion of the closing means you have committed 20-30 years of your life toward repaying a house loan. So take time to ensure you understand the full implications of the agreement you're signing. If you feel there's something unclear, don't hesitate to ask. Don't rush—you can even back out of the deal at that point. You can request the closing documents a few days before the date of closing so that you have time to go through them with a fine-tooth comb.

Get insured

First, get title insurance. This kind of coverage offers your mortgage provider a measure of comfort in the event that the seller didn't really own the property they were offering you. What about you, the buyer? There is a similar policy available specifically for buyers. This insurance will give you some redress in the event there were some legal issues in previous sales on the property that have resulted in fraud claims against you or liens on the property.Also, begin arranging to have your new property insured. Before the closing date, start sourcing for home insurance quotes online or from the insurance companies you know. If you already have car insurance, getting a home insurance policy from the same provider might mean you'll pay lower premiums.

Inspect the new house

Conduct a thorough inspection of the property from top to bottom one more time asking yourself the following questions:

  • Have any changes occurred to the house since you last viewed it?
  • Have the repairs you requested on my last walk-through been done?
  • Are amenities like water and electricity functioning as they should?
  • Are the front and back yards as you left them or have some shrubs been removed or landscaping damaged?
  • Has the seller removed all their belongings? 

If the inspection raises some issues, delay the closing until they are resolved. Should you have already fixed a moving date, try to get cash compensation to compensate for outstanding work.

Ask your real estate agent any and everything you need to know before the closing.

About the Author
Author

Christine Mastis

ABOUT ME Client Services Full-service representation for both buyers and sellers First-time home buyer specialist Selling both resale and new construction homes Offering a comparative market analysis prior to listing and/or purchasing Marketing expert including print, TV, direct mail and internet exposure for sellers Relocation Specialist Professional Background Licensed as a Missouri Realtor since 2001 Worked as a Human Resources Manager and Trainer for a major St. Louis Corporation Experience Relocation specialist for clients both moving to and from the St. Louis area Success with a diverse client base Proven success with overseeing transactions from negotiations, through inspections and appraisals to closing Education BSBA in Human Resources and Marketing from The University of Missouri St. Louis Dedication Lifelong St. Louis resident Married and the mother of three sons Referrals Specific references are available upon request Client testimonials available Recognition Ranked in the top 2% of Berkshire Hathaway HomeServices Alliance Real Estate? year after year for sales volume Henry J. Aydt Service Award winner February 2017 Chosen to host the St. Louis episodes of HGTV’s "National Open House” Recognized in every April edition of the St. Louis Magazine since 2007 -Five Star: Best in Client Satisfaction http://www.ChristineMastis.com