Closing On Your New Home In 21 Days With A Lender With No Overlays
Closing On Your New Home On Time:
Closing On Your New Home on time is expected by not just you as the home buyer but the sellers as well. There are many lives affected in a home closing. Buyers and sellers have families. They both need to make plans such as the following:
- Scheduling movers
- Registering their children to their new schools
- Planning on taking time off work
- Making sure that friends and family are available on the closing date if they are planning on moving at the same day as the closing on your new home
Prior To Closing On Your New Home
Normally a day or two prior to closing on your new home, most home buyers will have a final walk through. This final inspection of the home is to insure that the home is in the same condition as you have seen it prior to entering into a real estate purchase contract. If there were repairs to be made and negotiated between home buyer and home seller, you need to make sure that the repairs have been performed to your satisfaction. You need to check to see that items that were to remain with the home such as appliances, blinds,drapes, patio furniture, and fixtures are there and in working condition. If debris needed to be cleared, make sure that it has been done. The final walk through should not be done the same day as the closing on your new home in the event if certain repairs needs to be made or have not been completed. It is not wise to renegotiate at the closing table on the date of your home closing. Many closings get delayed or canceled due to the fact that the home buyer is not pleased with the final walk through. Common complaints by buyers during walk through are the following:
- Debris not cleared
- Broken windows and glass
- Appliances not working properly
- Yard not manicured
- Toilet not in working order
- Garage door not working
- Other defects to the home
The Home Closing Process
The Home Closing Process is the touchdown of the home buying process. The closing is when the home buyers and home sellers gather at the title company and the transfer of ownership takes place. The lender sends closing docs and the wire of the loan amount. The sellers gets the proceeds of the sale and the home buyers gets the keys and paperwork of the ownership of their new home purchase.
The transfer from seller to buyer happens at a real estate closing, normally at the title company. Closing on your new home on time can be done if the borrower works closely with the mortgage loan officer, its processors, and underwriters. The closing usually takes place at a title company or attorney’s office where the buyers, sellers, attorneys, and closer is present. Ownership of the newly purchased home is officially transferred from the seller to the home buyer at the home closing.
Here is what happens closing on your new home:
- It is at the home closing where the docs from the lender is sent.
- The lender also sends the wire once all parties sign the closing docs and the lender approves the Closing Statement.
- Once the wire is sent, the title closing officer will disburse funds where the seller will get the proceeds of the sale of the home.
- There are cases where you can have a real estate attorney to act on your behalf in the event if you cannot attend the closing.
- This usually happens if you are a buyer from out of state or for one reason or another you cannot attend the real estate closing.
- Home sellers do not need to be at the closing unless they want to.
- Most closings take less than two hours, however, closings may take hours if there are delays when the lender has issues approving the closing docs or there is delays in sending the wire.
- Majority of the closing paperwork at a home closing is normally done by real estate attorneys, title agents, and closing agents.
Closing On Your New Home In 21 Days Or Less
In most states, settlement is done by a title or escrow firm to which you forward all the materials and information along with the appropriate cashiers’ checks, and the firm will make the necessary disbursements. The realtor or a officer of the title company will either wire the proceeds to the seller or give them a cashier’s check. The buyer will get the keys, garage door opener, owners manuals of appliances, and any other items belonging to the home. Deals outside of closing can be made such as purchasing lawn and garden equipment and other items.
The Gustan Cho Team at CrossCountry Mortgage Inc. NMLS 3029 is a five star national Fannie, Freddie, Ginnie Mae Direct Lender licensed in 50 states with no overlays. CrossCountry Mortgage has a national reputation for its 21 day closings on most of their mortgage loans. The Gustan Cho Team at CrossCountry Mortgage specializes in the following:
- No overlays on FHA, VA, USDA, and Conventional Loans
- 580 FICO credit scores on FHA Loans, VA Loans, and USDA Loans
- NON-QM Loans for borrowers one day out of bankruptcy and/or foreclosure
- Bank Statement Loan Programs
- No Income Verification Loans
- Non-Warrantable Condominiums and Condotel Financing
- 21 Day Closings on most of their loans