You don’t have to let Labor Day mess up your closing.
The calendar’s approaching mid-July which means that, for today’s buyers of homes, the last week of August is a probable date for closing.
It’s also just before Labor Day, which can pose issues of timing for buyers and sellers of homes.
Mortgages are mostly digital anymore.
Specialized software handles applications, disclosures, and processing; and, increasingly, software code works through underwriting, appraisals, and approval.
Closing on a loan, however, require humans and brain power.
There’s title work to do, money to process, and real property to transfer. Closings are digitally-aided, but they’re still hands-on.
And, because people are required to close on a home, it’s a risk to schedule closing for the Thursday or Friday before a 3-day holiday weekend. The humans you need for your closing might choose to use those days for vacation, or be otherwise unavailable to you and your loan.
So, if your contract calls for an August 30 or August 31 closing date this year, remember that Labor Day comes early and it’s best to make a plan. Set a goal to finish your loan approval as far in advance as possible.
Be forthcoming with information to your lender. Get your homeowners insurance lined up in advance. Return requested documents quickly. Answer your phone when it rings.
Do the simple things, and you’ll give yourself an excellent chance for success.
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An insurance claim is an official request you make to an insurance company, asking to get paid for damages. Insurance claims can be made for any reason that’s a part of your insurance policy. When you have homeowners insurance, you can make an insurance claim after a fire in your home; after there’s been theft […]