In today’s real estate advice video you’ll learn how to change your home closing date!
So, what is the closing on a house meaning anyways? In short, closing a home or real estate closing, if you prefer, represents the scheduled day after a seller accepts the buyer’s offer and when the parties meet up at complete the home closing process.
The closing a home steps in this video include:
1. What is a closing a home?
2. Why change the closing date?
3. How change the close of escrow date.
4. Possible repercussions with change the scheduled closing.
Currently, on a nationwide average, the home closing timeline you can expect is roughly 50 days. The actual time frame depends upon where you live in the USA. For instance, in states like Nevada & California it take as little as 30- 35 days and even quicker in some cases.
Closing on a house 101 begins with knowing when closing day is scheduled. If you’re unsure, then reach out to your real estate agent.
Here’s a quick summary of the home closing steps for both a buyer and a seller.
The home closing process for a buyer includes the buyer due diligence period which is when the home inspection is schedule, the appraisal ordered, and the buyer has the opportunity to review the seller’s disclosures and any other information they deem appropriate to ensure they are happy to say, “we bought a house!” During this time the the buyer’s lender will be in touch with the buyer to collect additional information to fund on the buyer’s home loan. Meanwhile, the Title company will collect a statement of personal information from the home buyer’s and work with them as they choose how to “vest” the property. (i.e. Joint Tenancy, Tenants in common, sole, etc…)
In many ways the home closing process for a seller takes a similar path as their listing agent send the buyer agent the seller disclosures and HOA information (as applicable). Like the buyer, the seller will submit a statement of personal information to the Title company and the title company will obtain the mortgage payoff information on behalf of the home seller as the Title/ Escrow officer ensures any property liens/ judgements are satisfied. Once complete, the title to the house is ready to transfer to the new home buyers.
Use the information above to prepare a home closing checklist so you know what to expect or simply ask your trusted real estate advisor for a checklist.
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Enjoy an amazing day!
-Your Real Estate Geek, Andrew Finney
USMC Combat Veteran/ Real Estate Consultant
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BHHS, Nevada Properties
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How To Change Your Home Closing Date!