Oct 19

Critical Tips For End Of Year Real Estate Closings

We haven’t even polished off the Thanksgiving turkey yet and the race for closing real estate transactions before the end of the year is on. There are many advantages to inking your deal before New Year’s Eve, especially this year. However, this is consistently one of the most challenging times of the annual rotation for getting things done in this business…

Knowing what you can do to keep your transaction on the fast track, understanding the complications and choosing vendors wisely will be critical to your success.

This applies to home buyers, sellers, a multitude of real estate of real estate professionals, including investors.

This year, on top of the traditional seasonal surge to close before the end of the month, and year, many are even more concerned about capitalizing on the tax benefits buying real estate has to offer, as well as getting deals wrapped up before the Mortgage Forgiveness Act and its benefits for short sales expires.

Of course like any other industry many workers become distracted with entertaining, holiday shopping and files are endlessly handed off between employees as they take turns on vacation. This happens in real estate offices, but perhaps most significantly at mortgage lenders, which can cause substantial delays in the closing process.

This makes it absolutely essential for all parties to get paperwork in fast, get conditions cleared and order title searches and insurance policies early.

It will also certainly help to take an extra patience pill, as many factors will simply be out of your hands and freaking out on everyone involved over the phone may unfortunately sometimes more likely see your file ‘lost’ than fast tracked.

Perhaps most importantly, recognize the need to choose the right MI title insurance company to work with, and partner with – one that is fast, committed, and will shoot straight on challenges and closing dates.

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