McGuire Real Estate
McGuire Real Estate
Courtney Banks, McGuire Real EstatePhone: (412) 523-9108
Email: [email protected]

4 Tips For Successful Mortgage Closing

by Courtney Banks 08/18/2019

Pick a date 

The best time to set a closing date is at the end of the month as interest at the table is at its lowest then, and you'll want to pick a closing date around the same time your current lease is set to lapse. 

Take your time

The conclusion of the closing means you have committed 20-30 years of your life toward repaying a house loan. So take time to ensure you understand the full implications of the agreement you're signing. If you feel there's something unclear, don't hesitate to ask. Don't rush—you can even back out of the deal at that point. You can request the closing documents a few days before the date of closing so that you have time to go through them with a fine-tooth comb.

Get insured

First, get title insurance. This kind of coverage offers your mortgage provider a measure of comfort in the event that the seller didn't really own the property they were offering you. What about you, the buyer? There is a similar policy available specifically for buyers. This insurance will give you some redress in the event there were some legal issues in previous sales on the property that have resulted in fraud claims against you or liens on the property.Also, begin arranging to have your new property insured. Before the closing date, start sourcing for home insurance quotes online or from the insurance companies you know. If you already have car insurance, getting a home insurance policy from the same provider might mean you'll pay lower premiums.

Inspect the new house

Conduct a thorough inspection of the property from top to bottom one more time asking yourself the following questions:

  • Have any changes occurred to the house since you last viewed it?
  • Have the repairs you requested on my last walk-through been done?
  • Are amenities like water and electricity functioning as they should?
  • Are the front and back yards as you left them or have some shrubs been removed or landscaping damaged?
  • Has the seller removed all their belongings? 

If the inspection raises some issues, delay the closing until they are resolved. Should you have already fixed a moving date, try to get cash compensation to compensate for outstanding work.

Ask your real estate agent any and everything you need to know before the closing.

About the Author
Author

Courtney Banks

Originally from Pittsburgh, Pennsylvania, Courtney moved to the Bay Area in 2008 to attend the University of San Francisco where she received a Bachelor of Arts degree in Interpersonal Communication and her Master’s Degree in Education. Previously, she taught Kindergarten at Lafayette Elementary school.

One of the things that originally drew Courtney to the beautiful city of San Francisco was her love of the unique city architecture. Living here for 10 years has allowed her to explore, experience, and live in multiple neighborhoods throughout the city (and bay area), including; The Outer Richmond, Pan Handle, Marina, North Beach, Presidio and even Sausalito. Her variety of neighborhood knowledge makes her a great resource for your buying or selling needs!

Through her teaching career, Courtney has developed a great sense of patience, understanding, and creativity in problem-solving. These skills allow her to build meaningful relationships with clients to serve them in any of their real estate needs. She understands that buying or selling a home is a personal and often, emotional process and she will be there to support her clients in finding their perfect solution.

Courtney loves to take advantage of all that San Francisco has to offer, especially the food! She enjoys staying active and hiking with her dog in beautiful Marin, or strolling through different neighborhoods in search of the newest bakeries!

In working with Courtney, you will get someone who will listen to your wants and needs, who will go to bat for you, and who will be patient and understanding throughout this personal journey.