Simplify the home closing process

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Most consumers are likely anxious to complete the home buying process, so the last thing they want is a last-minute surprise while they're closing on the house. The closing process is the final hurdle buyers face after they have agreed to purchase the home, but it's important to be prepared to avoid obstacles that may delay the sale.

There are several ways buyers can ensure the closing process goes smoothly.

Understand the closing procedure


Before entering into closing negotiations, it's crucial to fully understand the process. By knowing what to expect, buyers can ask appropriate questions and clarify aspects that they may not understand. It's also to ensure that all parties are kept in the loop. Human error is natural, but details that get lost in the cracks can lead to delayed or canceled home sales, according to MSN Real Estate. For this reason, it is important for buyers to get in touch with the professionals who are representing them to ask about what to expect. Another important step is identifying and gathering all documents that should be brought to closing negotiations.

Review documents

Missed details in loan documents can either lead to mistakes in the paperwork or leave buyers with a product or payment scenario they are unhappy with. Reading loan documents may seem time-consuming, but it's the best way to resolve potential problems or misunderstandings before they occur. Lenders are required to provide buyers with their loan documents, by request, at least 24 hours before the closing, so individuals should re-read the contents to make sure they know what they're signing.

In addition, buyers should make sure they have all that they need the morning of closing, including their check. The loan documents should spell out the amount that buyers are required to bring to the closing. In addition, buyers may need to certify the check in order for the lender to accept it. Some buyers may have the option to wire transfer the funds, but this can take longer and delay closing, thus having a check ready may be in the buyers best interest. In addition to the check, buyers will likely need a copy of their photo ID, homeowners insurance policy and good faith estimate, on top of their loan documents.