Whether it’s your first home or your dream vacation home, buying a home can be one of the most exciting times of your life. It is also the largest purchase that you will most likely make in your life, which can make it a very stressful time.
You’ve found the perfect home, you were approved for your mortgage, and the home inspection was relatively painless. Smooth sailing from here until you’re holding the keys to your new home, right? Unfortunately, not so. Your real estate closing is where the potential for most unseen problems arise.
The Walk Through. Before the real estate closing, you’ll have a final walk through in what is almost your home. You find that the seller has left piles of trash in every room, ripped the dining room light fixture out of the ceiling and gouged a hole in kitchen door frame when moving the refrigerator.
What are your potential options? Your real estate attorney should work with the seller’s attorney to solve the problems; figure out how much it might cost, and how to make the seller pay. One option would be to negotiate a credit on your real estate closing fees, meaning the seller pays more at closing. Another would be to have the appropriate amount from the seller’s proceeds placed in escrow until the problems are fixed.
Errors in documents Document problems can be as simple as a name misspelled or a transposed number in an address, or as serious as incorrect loan amounts or missing pages. All of these glitches can cause delays of hours or even days because everything has to be in order before the real estate closing.
Your attorney will let you know in advance what items are expected of you from the title agent and other professionals that you’re working with at the closing. Ask to see as many of the documents as you can in advance to prevent mistakes that can be easily avoided.
Contacting an experienced real estate attorney can make the process run smoothly. The attorneys at Wynn and Wynn can give the guidance you need. call us at 1-800-852-5211 or request your free consultation.
