How can you Avoid Closing Surprises with your Mortgage?

Posted by on Thursday, July 2nd, 2015 at 10:14am.

Mortgage

Surprises at closing are never fun to deal with or a good thing. They can actually cause the entire deal to fall apart. However, mortgage surprises can be avoided. Here are a few tips to help you avoid any surprises when you get to the closing table.

Honesty Only

Don't hide anything from the buyer or the seller. Regardless of which side of the deal you are on, if you are not honest, the truth will come out. This can destroy the deal fast and can cause even bigger issues with trying to get the deal back.

Make sure you Choose the Right Terms

If you don't choose good terms when buying a home, you may regret it at closing. You cannot just look at the price. There has to be more to it than the price and you have to know the terms of the deal. If you get to closing and you don't understand what the deal is all about, you're in for a surprise you may not like.

Get a Solid Pre-Approval

Sometimes, a pre-approval can be weak and it can cause issues at closing. However, if you have a solid pre-approval with written proof, you won't have much to worry about. Make sure everything is fully documented and you take the home-buying process seriously from start to finish.

Remain Calm

Sometimes a surprise is a good thing and other times it's not that big of a deal. Make sure you remain calm during the closing and you may just find the surprises are not that big of a deal. However, sometimes surprises are a big deal, but you still need to remain calm.

Closing can be stressful and you may find some surprises. However, if you have a good real estate agent and lender, you won't have much to worry about.

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