Buying Or Selling A Knoxville Home? Don’t Make These Critical Closing Mistakes
When you’re buying or selling a Knoxville home, the transaction is not complete until you make it to closing.
Whether you’re buying or selling a Knoxville home this year, be sure to avoid these critical closing mistakes.
Closing Funds
One critical closing mistake that can happen when you’re buying or selling a Knoxville home is not making the proper arrangements for closing funds.
If you’re a seller bring money for closing or a buyer putting some money down, be sure you have a plan as to how you’ll be getting funds for closing. Funds will either need to be wired to the title company or you’ll need a cashier’s check. (If you’re coming from out of town, be sure you know how these arrangements will be made.)
If you’re withdrawing money from a 401(k) or IRA be sure you know how quickly you can have access to those funds and what the requirements are.
Closing Date Flexibility
Whether you’re buying or selling a Knoxville home, it is is essential you have some flexibility when it comes to the closing date.
A majority of closings do happen on time; however, there are no guarantees. Last minute hiccups in the closing process can happen and closing dates can get pushed.
Just be sure you have enough flexibility in your moving schedule in case of delays, so you don’t find yourself homeless.
Failure To Communicate Critical Details
In order to avoid any last minute closing issues, as a buyer or seller, it can be extremely important to communicate any possible issues before closing.
Will you be out of town for closing? Will you be giving someone power of attorney at closing? Do you have to sell your Knoxville house before buying another?
Whatever the issue, it is important to be up front with your realtor, title company, and lender.
Are you thinking about buying or selling a Knoxville home this year? If so, please let us know if there is anyway Knoxville Home Team can assist you in buying or selling a Knoxville home. You can contact Rick at 865-696-9002 or via email a [email protected]. Or, you can contact Kati at 865-392-5880 or via email at [email protected].
