Real estate transactions, particularly closings, can be complex and stressful for both buyers and sellers. Avoiding common pitfalls during this critical phase is essential to ensure a smooth, successful transaction. But what can you do to make sure you have a smooth closing?

Hire the right people

A skilled real estate agent can be your greatest ally in avoiding pitfalls. They understand the nuances of the local market, can provide valuable advice and help you navigate negotiations and paperwork with ease. The company you use for closing is equally important; they’ll be responsible for organizing documentation and ensuring everything is in order before closing.

Utilize title searches and title insurance

Prior to closing, it’s essential to conduct a thorough title search to ensure that the property’s title is clear of any encumbrances or legal issues. Obtaining title insurance is also advisable to protect against any unforeseen claims or disputes that may arise after the sale.

Keep your financing organized

Ensure that your financing is secure and you have a mortgage pre-approval in place. Delays to closing can occur if there are issues with mortgage approvals, so it’s essential to work closely with your lender to address any potential roadblocks in a timely manner.

Schedule a walk through

Before the closing, arrange a final walk through of the property to verify that it is in the agreed-upon condition and that any negotiated repairs have been completed. That way, you aren’t stuck with any surprises like cleaning or repairs after the keys are in your hands and the financial responsibility is yours.

Review closing documents

Before the closing, carefully review all documents, including the closing disclosure and settlement statement. Ensure that all terms and figures are as agreed upon. If there are any surprises, or you have questions or concerns, address them with your real estate agent ahead of time so closing won’t be delayed at the table.

A successful real estate closing is the culmination of careful planning, due diligence and effective communication. Whether you’re a buyer or seller, the goal is to close the deal with confidence. To learn more about Clear Title’s closing services, call one of our offices today:

Pensacola: (850) 361-4029

Pace: (850) 994-3838

Pine Forest: (850) 202-8518