Avoid Home Closing Delays in Apopka Florida
It's normal for home buyers to get anxious when it comes to waiting for closing day. So much is planned for the big day, including packing and moving preparations. A closing delay can really put a wrench in those plans and create a tremendous amount of stress for all involved. Buyers play a big role in the ability to close on time, so we thought it would be helpful to share some tips for avoiding home closing delays in Apopka Florida.
Promptly Respond to Lender Requests
It's common for lenders to request additional information from buyers as they start to review a loan application. It is important for buyers to respond promptly to all requests. Every day that goes by can add to processing delays for a loan. Timing of information is particularly important the closer that you get to a closing. Some disclosures are directly tied to and can push out the closing date, so responding immediately is important to avoid home closing delays.
Provide Accurate Information
When it comes to applying for a mortgage, it does not pay off to embellish information. Lenders perform their due diligence in verifying all information provided to them, including income, debts, assets, etc. It is best to be up-front with the details that you provide to your loan officer. If anything could present an issue, it's best to know that up-front rather than later on in the process. Failure to provide accurate information can also lead to unnecessary delays.
Avoid Drastic Changes
It's a common misconception that once your loan is approved, you're in the clear. This is not necessarily true. Most lenders will re-verify some information immediately before closing. For example, lenders will verbally verify your employment and perhaps even re-check your credit report. If you changed jobs or incurred additional debts before closing, it could disqualify you for a loan. At the very least, their need to re-process your loan would cause delays. During the home buying process, not making drastic changes to your employment and finances are important to avoid home closing delays.
Summary of Ways to Avoid Home Closing Delays in Apopka Florida
To avoid home closing delays in Apopka Florida, home buyers should work closely with their real estate agent and loan officer, respond quickly to any requests and furnish verifiable information. Open communication and diligence are truly key. Although some issues cannot be avoided, most can be with the cooperation of all parties involved.
Working with an experienced real estate agent is also helpful. Your agent will track the progress of your transaction, prompt you to complete certain tasks, and monitor critical deadlines. If you are not already working with an agent, give us a call. We service the communities in and around Apopka Florida and would be delighted to assist you.