Buying a home is an exciting life event, but can be tricky, even for seasoned home buyers. We have compiled a list of important steps to take to avoid delaying your closing. If you’re considering buying a home and don’t know where to start, contact your local real estate agent; they can walk you through the entire home buying process from contract to close.
- Take care of the financial process upfront. It is important to get preapproved for a mortgage loan before shopping around. A preapproval will help determine your qualification and price point.
- Lock in your interest rate. When you get preapproved for a mortgage loan, ask your lender if they can lock in the interest rate. Otherwise, there is a possibility your interest rate will rise while you’re shopping for a home, and you will no longer qualify for the mortgage loan.
- Schedule a home inspection. A home inspection empowers the buyer to know the home’s condition and gives them exactly what they need to address potential issues with the seller.
- Be prepared to wire your funds. When working with a title company, be sure to confirm the wire instructions over the phone before wiring any funds. This is an important precaution to take to avoid wire fraud.
- Ask questions and discuss details ahead of time. Don’t wait until closing day to ask questions. Be sure to provide the title company with important details, including how you want to hold title so they can prepare the deed
- Don’t make big purchases before closing. Even if you’re preapproved, your lender will check to make sure no recent hits have been made to your credit. This could disqualify you for the mortgage loan, causing your transaction to fall through.
- Review the Closing Disclosure timely and carefully. Your lender is required to give you the Closing Disclosure at least three business days before your scheduled closing date. Be on the lookout, so you can review the Closing Disclosure prior to settlement – this will allow time to resolve any issues before closing.
Offices in the Tampa Bay Area and Orlando
*Address: 167 108th Avenue, St. Petersburg, FL 33706
*By appointment only at 1900 Summet Tower Blvd Suite 220; Orlando, FL 32810.