THE PROCESS OF BUYING A HOME IN BROOKVILLE, NY - PART VII

PART VII OF THE SERIES:  THE PROCESS OF BUYING A HOME IN BROOKVILLE, NY

Part I - Affordability -   http://activerain.com/blogsview/1196351/the-process-of-buying-a-home-in-brookville-ny-first-of-the-series-affordability

Part II - Finding your dream house - http://activerain.com/blogsview/1197973/the-process-of-buying-a-home-in-brookville-ny-part-ii

Part III - Making the offer - http://activerain.com/blogsview/1201076/the-process-of-buying-a-home-in-brookville-ny-part-iii

Part IV - Hiring an attorney - http://activerain.com/blogsview/1203763/the-process-of-buying-a-home-in-brookville-ny-part-iv

Part V - Home inspection - http://activerain.com/blogsview/1206783/the-process-of-buying-a-home-in-brookville-ny-part-v

Part VI - Finding a Mortgage  - http://activerain.com/blogsview/1209404/the-process-of-buying-a-home-in-brookville-ny-part-vi

Part VII - Closing

Closing dates depend on several things - the engineer's report, the date set on the contract and how fast the buyer can get a mortgage.  If everything runs smoothly, then a closing date is set.  The day before the closing or sometimes in the morning of the closing day, your agent will take you on a final walk-thru of the property.  You want to make sure everything you are buying is still there and in the same condition that you saw them last.  I have heard instances where appliances have been changed to a cheaper model.  One time, all the light bulbs were all taken out by the seller. 

Nowadays here in New York, with so many paperwork that the bank requires, it is nearly impossible to close in 90 days.  A couple of years ago, having a 20% down will quarantee you a mortgage and a fast closing.  I have heard an agent with an offer of 50% down and the bank was giving the buyer a hard time obtaining a mortgage.  The bank wanted to know why he was moving from New Jersey to New York.  This is the

craziest thing I have heard so far about bank's delaying tactics.  The best deal is the cash deal where you can close so quickly. 

Although there are instances where you cannot be present at closing with your attorney and the sellers and their attorney, I recommend you to be there.  Although some agents do not even go to the closing, I make it a point to be there just in case there is a problem.  The real estate agent also wants to make sure she/he gets paid her commission.  Some closings especially one concerning divorced couple can be very problematic.  Here the real estate agent should know not to take side and let them settle their problem. 

After signing and initialing like a million papers and after the lawyers write all the checks, you are handed the key to the house and you are now a homeowner.  Congratulations!       

Copyright © 2009.  By Rosalinda Morgan, "The Rose Lady".  All rights reserved.. *THE PROCESS OF BUYING A HOME IN BROOKVILLE, NY - PART VII*

If you are interested in selling or buying a home in Brookville, Muttontown, Oyster Bay, East Norwich, Oyster Bay Cove, Syosset, Laurel Hollow, Bayville, Centre Island and Mill Neck, please contact Rosalinda Morgan, "The Rose Lady". 

Ph - 516-385-0584

Email - linda@rosalindamorgan.com

Website - www.rosalindamorgan.com