Going through a real estate closing can feel like going through a funhouse – confusing and less fun than you’d think. A real estate closing can drag on (and on), especially if you don’t have everything in order. Here are a few tips to help you survive the crazy world of a real estate closing:
- Bring a pen. In fact, bring a few pens. You’ll be signing tons of paperwork – so you might even want to consider doing some wrist-strengthening exercises beforehand. Hunting for a pen (or depleting all the ink in a pen halfway through the closing) can waste precious minutes before you take ownership of your house.
- Talk to your real estate agent. A great real estate agent is your guide through the wild and wooly world of a real estate closing. Don’t brave it alone – talk to your real estate agent before heading in. They’ll be able to walk you through the entire process and help ease whatever fears you might have.
- Don’t forget insurance. Forgetting to get homeowner’s insurance is a rookie mistake that can delay the closing. You’ll want to have coverage in place before you head to your real estate closing to ensure that it goes smoothly.
- Keep your finances in order. Changing your credit or finances before the real estate closing can not only delay the proceedings – it can actually cost you the entire house. After you’ve been approved for a loan but before you close, make sure to avoid making any major purchases on credit – and yes, that includes new furniture. Save the new leather couch for after you’ve signed all the papers. Think of it as a reward for making it through the whirlwind of buying a home.
- Take your time. Don’t try to rush the process of a real estate closing. You’ll need more time than you think – any real estate agent who tells you it’ll only take an hour is being optimistic. Most closings take at least an hour and a half – more if you have to spend precious time hunting down a pen. So take half the day off work. You’re buying a home, so it’s the least you can do.
Surviving a real estate closing doesn’t have to be hard. In fact, you can make it through unscathed and unscarred by following these quick tips for real estate closing success.
