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The day of closing or closing date is an important negotiation item on your offer and final purchase agreement on a home. It is the day when the buyers get ownership and possession and the sellers get their money. Even though the contract will specify a specific date, closings can be delayed due to factors beyond the buyer's control.
Closings are usually set for 3 to 4 weeks after the offer was made. The buyers lender will usually require this much time to process the loan.
Most closings are set for the end of the month. Because of this the title and mortgage companies are very busy at the end of the month. To avoid the rush, it is a good strategy to schedule your closing in the middle or towards the beginning of the month.
With the McNabs as your real estate agents, we will keep you up to date on the progress of your closing in order to avoid delays and minimize any inconvenience.
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