There’s no greater feeling for a real estate agent and the client than closing on their new home on time, but in life things don’t always unfold in a straight path, I’m pretty sure you knew that already. From signing refusals, to changes of heart, and structural anomalies, anything could go wrong before the dotted lines have been crossed. Thus, knowing what to be prepared for is crucial if you must stay on top of a deal keeping control of the situation. Having come up from the bottom of the food chain to The Romero Team one of the top Re/Max Real Estate Teams in Albuquerque/Rio Rancho New Mexico , we know just what to be on the lookout for. This is not to discourage you from selling your house or any property in hand, but to inform you on what to expect as you try to close on your home. Consider it a kind gesture from The Romero Team.
A misprint or a spelling error on your paperwork can knock back the closing of a by many hours. Paper works are common with real estate transactions, a little misprint could become a full-blown disaster. Hence, it is crucial to go through the paper work several times.
To avoid pull outs, make sure the property in view is structurally in good shape. Carry out a final inspection a day before it is sold, this way you can avoid any last-minute surprise or embarrassment.
If the seller doesn’t hold up to their own side of the bargain especially with fixes, the buyer might or will be forced to have a change of heart.
It is important to have all your paper work ready and up to date prior to the closing day. It’s embarrassing to turn up at the meeting with invalid or incomplete paperwork.
You don’t want to be stuck with extra fees or miss crucial resale options. So endeavour to read the documents before you properly, make sure you understand them, and then you may sign them.
If a buyer becomes seriously ill, divorced, loses their job, or suddenly passes away, you should expect delays.
If either party falsifies any piece of information this could escalate into a much bigger situation if found out. This could be huge enough to warrant the involvement of attorneys and of course, time to sort things out. The only way around this is conducting a squeaky clean business.
Sometimes, due to financial restraints the money for the closing deal might not be paid when it is due for a bunch of reasons like incomplete funds and bank procedures. You should expect delays if that occurs.
- Breach of Terms & Conditions
A seller may breach the terms and conditions for a sale, or otherwise may not show up to sign paperwork at a closing. It could be for both valid and invalid reasons. So, have your agent contact the buyer for other arrangements duly.
Bank issues are not to be written off. If sellers fail to get their money or see a little hiccup in the way, there is going to be some problem.So, you might want to bring an alternate form of payment to the closing meeting.
You can avoid these problems by working with a good real estate Team in Albuquerque or Rio Rancho New Mexico . A good Team has experiences at sidestepping all the potential landmines that could pop up in a real estate transaction. There are also lenders and title companies My Team work with on a regular basis to make sure that none of the third parties drop the ball and eventually ruin your deal. Working with a good Real Estate team is the best way to avoid potential problems because it is are job to put deals together and get them done!