Purchasing a home is an exciting experience, but it’s one that rarely goes according to plan. The bank misspells a name, the inspection isn’t perfect, your paperwork doesn’t get faxed in time. There’s always something that occurs that delays your process just a bit, but it’s not uncommon. “The buying process is complex and requires many different people,” said Kelly, Realtors. This is a wheel with several cogs, and it’s not one you can easily predict. Before your home closes, however, there are a few questions you want to ask your realtor. These questions can help make the closing process smoother and simpler, and they can help you look forward to many beautiful years in your new home.
Don’t let the fear you’re bothering someone stop you from asking questions. Your realtor is paid to be the person you turn to when you have a question, a concern, or an observation, and he or she is the best person to answer the questions you might have. There is no such thing as a stupid question in the real estate closing process, but there are a few questions you can ask that are more educational and productive than others.
1- Will the Seller Will Pay Any Closing Costs?
You are buying their home, and you want to know if you can get them to pay any of the closing costs. If you know anything about real estate, you typically ask this question when you submit your offer to purchase the home, but you can also ask your realtor prior to closing if the seller is willing to help with this. It’s not as common, but it’s possible. Call your realtor and ask them to ask the seller if they are willing to pay any portion of the closing costs to keep your costs down and help you get through the closing process more affordably.
2- Can I See the Paperwork?
You may want to review all the paperwork prior to closing, and there is nothing wrong with that. Some of that paperwork comes from your realtor, and other paperwork comes from the loan officer. Your realtor is happy to show you the signed offer acceptance, the terms, and any other paperwork you’ve signed working with him or her. Your banker is going to go over all the documents with you if you ask to see them, and there are several more questions you might ask prior to signing anything with the bank.
- Ask about the final payment
- Ask about your PMI if it’s needed
- Ask about escrow
- Ask about closing costs
You have the right to review any paperwork your realtor and/or banker has prior to the close of your home, and you need only ask them. They’re going to provide the paperwork for your review when you ask for it.
3- What Do I Need at Closing?
There are so many people involved in the closing of your home you might not realize just what you need. Your realtor is the person who handles your questions in this aspect, and he or she can tell you right away what you need to bring with you. You might need to bring specific documents you didn’t know about, and it’s always a good idea to bring your checkbook. Your realtor’s job is to provide you with a list of things to bring with you to the closing since he or she is the one working closely with the title agent, but you can ask as many times as you’d like to be sure you have it all.
Buying a home is one of the most stressful and most exciting processes. Your emotions will range from high to low and back again more than you might imagine, but you must allow your realtor to guide you through the process. Your realtor can help you with this by telling you what you can expect, by answering your questions, and by helping you when you need it the most. This is someone you must trust working with, because it’s a long-standing and important relationship you want to continue for future real estate needs.