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How to increase the odds of a smooth closing

Closing on a purchase of residential real estate in Florida or any other state can be a complex process. However, there are steps that buyers can take to reduce the stress of the closing process. The first piece of advice experts give is to ask questions. Asking questions ahead of time can help a buyer prepare for the myriad of requirements that a lender or loan officer may have.

Another piece of advice from experts is to review loan documents ahead of time and to clarify what is being asked on those documents. Furthermore, if a lender asks for more documentation, it is important to give the lender exactly what it needs. Otherwise, the closing could be delayed or even cancelled. On the day of the closing, it may be a good idea to take the day off from work or reserve several hours for the transaction to close.

It is generally a good idea to bring a certified check for the amount needed to cover closing and other costs. Buyers have the option of using a wire transfer, but the transfer may take several hours or days to arrive, which may delay the closing of the purchase.

There are many small issues that could cause big headaches during residential closings. Therefore, it generally required that a buyer have a real estate attorney who has experience in these matters. An attorney may be able to review closing documents and increase the odds that everything is ready at closing time and otherwise help to ensure that the transaction closes according to all applicable real estate and lending laws.

Source: Bankrate, "6 tips for a painless closing on your home ", November 06, 2014

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