For the most part, any time you go through a real estate closing, it should be a fairly simple process. Still, it doesn’t hurt to take some extra steps to make sure that closing goes as smoothly as possible so you don’t have to worry about any surprises or complications arising.
With this in mind, here are some tips from a real estate attorney in Miami, FL to make your closing a breeze:
- Timing is everything:
It’s best to avoid scheduling your closing on the last day of the month, or on a Friday afternoon. The last day of the month is often the busiest day of the month for real estate closings, which means everyone working with you on that day (realtors, lenders, title agents, etc.) will all be under some extra strain. In addition, avoiding Friday afternoons as a closing time will help ensure any potential disputes that arise can be resolved relatively quickly, rather than forcing you to wait until the following Monday for a solution.
- Go local:
It’s always in your best interest to work with a mortgage broker or loan officer from your local area. You might be tempted by offers you see from internet-based lenders that will give you much lower rates, but these offers tend to be misleading. Plus, by going with someone local, you’ll be able to form a better relationship with your loan officer and benefit from stronger communication. This person will also be more familiar with the specific information that affects real estate in your local area.
- Get insurance before closing:
To make matters easier during the closing process, you should secure all necessary insurance policies long before the actual closing. This includes homeowner’s insurance and other policies, such as hazard, wind and flood coverage, if needed.
- Bring the appropriate identification:
By closing, you’ll already have provided your loan officer with most of the documentation needed for the transaction. However, you’ll still need to bring photo identification, as many of the closing documents need to be notarized. It can also help to bring a passport with you, though it may not be necessary.
- Get a certified check:
At your closing, you’ll need to pay the rest of your down payment that wasn’t covered in earnest money or other costs. To do so, you’ll need to obtain a certified check from your bank. Without these certified funds, you will not be able to close the transaction.
- Work with a real estate attorney:
A real estate attorney can be a tremendous resource to you in all types of real estate transactions, especially larger properties with more complications, such as multifamily or commercial properties. Even if you’re just purchasing your first house, talking with an attorney can help you get everything you need in order and make you feel more comfortable about the process as a whole.
For more information about how you can make your closing go smoothly, contact Rubén J. Padrón, PA today to speak with a real estate lawyer in Miami, FL.
Categorised in: Real Estate Attorney