Tips to Buyer's and Seller's on How to Help the Closing Process!
Buyer's and Seller's, do not get to upset if your home sell/purchase goes right down to the wire for closing. It seems that the Investors (lending institutions) have more loans than they can process; therefore, in a lot of cases they are not getting the closing docs to the escrow companies in a timely manner to close by the actual closing date on the contracts. There are some things that you can do to help speed up this process.
Buyer's, you can do a lot to make sure the loan process goes smoothly. Keep in constant contact with your loan officer or loan processor. Make sure you provide them with your income tax returns, bank statements, verification of employment, and your home owners' insurance. These four items can hold up your loan process and make it difficult to get closed on time.
Seller's, at the time you put your home on the market, have your survey and mortgage payoff information immediatly available. These two items, the escrow company will need before they can close your property. As a Listing Agent, I collect these two items at the same time I am collecting a listing agreement. I will keep them safely in my file, then turn it in to the escrow company when turning in a sale on the property. A process that the mortgage company and the escrow company can bypass and use that time to process the closing.
Buyer's and Seller's be patient and kind to all involved in the closing process. There is never "one" person to blame for delays. No one gets' paid until the transaction is closed and funded. So, believe me, all that are involved in your closing process, wants to see it to fruition as much as you do! I will admit, I have found some better at the process than others; therefore I do have my favorite Escrow Officer, Home Inspector, and Mortgage Broker!
Buyer's and Seller's if you have any questions about what you can do to help your closing transaction, please do not hesitate to contact me!
Happy Closing,
Priscilla Allen, Realtor - San Antonio, Texas