What could go wrong leading up to your closing?

Buying any type of real estate is a big decision, as it’ll change your life forever. This is why it’s so important to do whatever it takes to ensure yourself of getting a good deal.

Even if everything is going as planned leading up to your closing, that doesn’t mean something can’t go wrong at the last minute.

Here are four potential causes of concern:

  • Title issues: For example, if the title search turns up a lien on the property, you’ll want to immediately halt the process. Buying a home with clouds on the title is a mistake that can haunt you for years to come.
  • Poor inspection report: You hope that everything checks out in regards to the condition of the property, but you’ll never know for sure until you review the inspection report. For example, if the pest inspection report comes back with red flags, consider how to best move forward.
  • Your financing falls through: It’s frustrating for this to happen, especially if your lender told you everything was in order, but it’s a common problem. The best way to protect against it is to stay in touch with your lender in the days leading up to the closing.
  • The seller gets cold feet: It’s not out of the question that the seller could change their mind about finalizing the transaction. If this happens, review your contracts to see if you have any legal recourse.

As a buyer, you have legal rights that you need to protect. If anything goes wrong before or at closing, it’s critical to take steps to protect yourself and your financial investment.