How To Avoid Delays In The Closing Of Your Home

Millie Gil, Lic. Real Estate Broker-Owner | Mon June 11th, 2012

How To Avoid Delays In The Closing Of Your Home

You have finally found the house of your dreams and you can't wait to close and get moved into your new home.  So you definitely want everything to go as smoothly as possible with the sale of your current home.  Here are a few things you can do to make sure that you help avoid any possible delays during escrow.

First of all, problems can arise during closing no matter what you do and closing dates are never set in stone.  Just about anyone involved in the process could potentially cause a delay.  So you will want to keep in close contact with your realtor.  Your realtor will be able to inform you immediately of any deadlines that are approaching and help you to effectively deal with any delays.

Here are a few a few things you can do to help avoid any escrow delays.

1.  Make sure you have a very well written sales contract

2.  Ask your realtor to make sure that the buyer is required to  provide proof of sufficient funds for their down payment and closing costs

3.  It is a good idea to have the buyer provide proof of the ability to buy homeowners insurance (due to new restrictions on insurance policies, the mortgage lender will most likely require them to provide their insurance prior to funding the loan)

4.  Make sure you modify the part of the sales contract where the seller makes a warranty to the buyer of the condition of the property.  It should be modified to reflect the sellers transfer disclosure statement.  If you leave this out, the seller may have to repair items that are found not working or faulty and this could delay your escrow period

There are many things to remember and many things that need to be taken care of prior to a closing.  So it is a good idea to keep in regular contact with your realtor throughout the entire process.  Your realtor will help keep you on track and make sure that everything you need to do gets done within the timeframe that is required.  

The last thing you want is to get to your closing appointment only to realize that one of the items needed for closing has not been done.  Your agent wants to get you through the sales process and through your closing as smoothly as possible.  So you don't need to worry about anything, but you do need to keep in touch.  

The next thing you know, you will be enjoying your new home and that everything was completed without a glitch!   At least, that is, until you get ready to buy your next home, then everything starts over again.  But that is a topic for another day.  For now you can relax and enjoy your new home for years to come.

About the Author:  Millie Gil has been a successful Licensed Real Estate agent for over 25 years in Florida.  Millie is Vice President of Bold Real Estate Group, a boutique agency committed to concierge personalized service for discerning buyers, sellers and renters of residential and commercial properties.  For more information please forward your request to communityinfo@comcast.net

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