This article was originally posted on DothanHomeSearch.com
Even in the smoothest transactions, closing is stressful for home buyers. You are signing dozens of documents, most of which you are trusting the closing attorney and not asking what you are signing. Add to that the fact that you are likely making the biggest, single financial transaction of your life.
For the folks out there that feed off of stress, the Type A personalities among us, here are three ways (plus a bonus!) to help increase the level of stress at your closing.
Poor choice of mortgage provider
By all means, go online to your favorite search engine and type "low cost mortgages" or something similar in the search box, then surf on over to AllICareAboutIsMyRate.com to get the "best deal" on your new mortgage. It won't happen every time, but we see the vast majority of such endeavors end in misery for the buyer.
Everything from bouncing rates and fees to asking for the same documentation five different times. If you are really interested in weeks of stress and confusion, don't use a local mortgage broker or a reputable online one.
Buy a car a couple of weeks before closing
You may be approved and ready to close, but your mortgage provider is going to check your credit again a couple of days before closing.
Any new line of credit, such as financing a car, will likely change your credit score enough to cause questions to be asked by the mortgage company. So be ready to explain to your lender how you are going to pay for that new boat AND make your new house payment.
Don't check the repairs
You will likely (or you should) have the home you are buying professionally inspected. You should have reserved the right in the sales contract to request certain repairs, based on this inspection.
Once you submit your list of repairs to the seller, don't worry about checking to make sure they are done. You'll be able to determine that at your walk-thru, which is usually the day before closing. After all, 24 hours is probably plenty of time to get that piece of damaged drywall repaired and painted, or have a contractor come back to fix something they did a poor job on.
BONUS ROUND - Don't ask for a survey
If the home you are buying is in a platted subdivision, there is no need for a survey, right? Except that things change. Fences and storage buildings are built and driveways and parking pads are expanded, and it is not uncommon for encroachments to present themselves after closing. So while this one might not cause problems at closing, the problems down the road will be enough to cause you some stress.
Keep these ideas in mind as you think about your closing. If you have had an experience at closing of your home, share it with us by commenting below.
Tags: home+buyers, closing
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