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Tips to Have A Stress Free Closing

So, you are buying a new home. First, Congratulations! This is a big step for any person whether a first time homebuyer, an investor or a home upgrade. No matter your experience, closing on a home can be a bit of a confusing process without knowledge of the process from your agent or lender. Creating a stress free closing starts with being proactive on the buying side and not rocking the boat with these things you should not do during the closing process:

Expect the Lender to Not Double Check Information

After the initial approval, it is not unheard of for a lender to revalidate this information during the closing process. Any additional changes in information, even minute, can cause a disruption in your loan. Here are some examples:

  • Change Jobs: Although we can’t control some situations, changing positions during the buying process is a major red flag to lenders. If your income takes a dive, it is likely they will revoke the loan amount and provide an updated approval letter.
  • Change Your Marital Status: This may seem odd, but this can cause a disruption in documentation if a change does occur. For example, if an engaged couple becomes legally married during the closing process and fails to update the documentation, the final HUD would show one spouse’s maiden name and be an invalid closing.
  • Movement of Funds: During the home buying process, it is important to keep your money in the accounts they are in. Moving funds to accounts not recognized by the lender can cause a reevaluation of the loan and delay the closing process.
  • Paying off Existing Debt: Until your closing occurs, it is best to cease large payoffs of debt unless otherwise directed by your lender. Losing capital funds in accounts can trigger lenders in certain cases.
  • Large Purchases: Sorry, but it is best to hold off on purchasing new vehicles or additional property items until after closing due to loss of capital funds and the possibility of the lender recalling your approval.

These are just a few tips to help improve the closing process from the buyer’s side of the purchase. LiquidVZN Group provides full-service title and settlement services throughout the United States. Contact one of our closing coordinators today to learn more about this process and how you can choose LiquidVZN to assist with your closing.




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