You really don’t want to encounter anything surprising on closing day—and hopefully, as you go to seal the deal on your new home, everything will go according to plan. It’s important to note that little surprises do pop up sometimes, and they’re usually nothing to worry about. I’ll walk you through some of the most common ones, and provide some tips for dealing with them. Remember that you’ll also have your agent with you on closing day to guide your response to whatever surprises do emerge.
Responding to Closing Day Surprises
What if the walk-though goes badly?
You should always have one final walk-through of the home, either the night before or even the morning of your closing. If you find some ugly little secret, or see something seriously wrong with the home, it can be dispiriting, to say the least. Here, your agent will be able to guide you on how to proceed with caution. Often, the best approach is to ask the seller to cover repair costs. Ask your agent to help you get a professional estimate before you close, and get the funds you’ll need to make things right. (Also note that a thorough home inspection can help prevent this type of surprise altogether.)
What if the seller removes items you wanted to keep?
You may have really loved an antique light fixture, and find yourself surprised that the sellers took it with them. Honestly, it’s usually best to just let these things slide, unless you were really attached to the item in question. Another suggestion: Clearly delineate, in your contract, which items stay and which ones go. Your agent can help you with this!
What if your credit isn’t approved?
This is, frankly, the worst possible closing day surprise, but also one that’s pretty easy to avoid, simply by staying in contact with your lender. Reach out regularly to make sure things are proceeding smoothly. Also, avoid any big financial changes as your mortgage is processed; don’t change jobs, open new credit cards, or anything like that. Ask your loan officer for more information.
What if you don’t have closing day payments ready?
This is usually pretty easy to resolve, and again, there is a way you can head it off at the pass: Make sure you ask your agent well in advance what kind of payment you’ll need, and how best to bring that payment—cashier’s check, direct wire transfer, etc. Even if there is a mix-up, it can often be resolved without delaying your closing too much.
Get an Experienced Agent on Your Side
You might notice a constant theme through each of these points—namely, that having a skilled agent on your side can help you deal with any surprises that come your way. To get a North Carolina real estate pro in your corner, I invite you to contact me at any time. Reach out to Ryan Minges today to chat with me about how I can help!