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What issues might come up during closing?

On Behalf of | Dec 6, 2022 | Real Estate Law |

Buying real estate can be a harrowing experience. By the time you reach closing day, you may think all the problems and delays are over.

But you might be wrong. Issues can come up even during closing. Preparing yourself for them can help make the process much easier to navigate.

Financing snags

While your lender may assure you that you are ready to go with your mortgage, things can still come up last minute. Your lender may need more paperwork or need a little more time to finalize the loan. You should get a review in advance to be sure nothing like this happens on closing day.

Title problems

You likely will have a title check early in the process, but issues could be lurking that only come up at closing. You need to be sure to completely look over the title and ensure there was a thorough review to seek out potential problems. Doing a quick review of the title details prior to closing can help avoid surprises on the actual day.

Property issues

Right before closing, you will do a final walkthrough of the home to be sure everything is as it should be. Sometimes, there is a last-minute issue that comes up. Your contract should allow you a way to handle such a problem. Make sure you have a clear way to manage anything that could come up last minute.

Closing delays can be a headache, especially if you had expectations to wrap up the property purchase. Many times, the issues are something you can plan ahead for and be ready to tackle, so they do not slow the process down too much.