How do you handle last-minute changes before closing?

Negotiating last minute changes is less stressful when every one on the same page and feels included. I recommend to maintain accurate records of communication by confirming in email every detail that has been discussed or agreed to on the phone. Copying involved parties is an easy way to keep everyone in the loop without things getting lost in translation.

First stop- check your contract. Most contracts lay out many of the eventualities of changes. Also, when it comes to lending, talk out what you are and aren’t obligated to accept. Their are some pretty strict tolerances post Dodd Frank. Keeping your cool and asking questions is key. Don’t panic and don’t be afraid to stop everyone and ask them to explain. It’s important to have and trust your experts but its also important to advocate for yourself and verify everything.

Although last minute changes are not always avoidable, many can be prevented with good planning & top professionals behind you. When you first go under contract, ask your Realtor, Lender, Attorney, etc. what you you can do on your end, to ensure a successful closing. Example: Will someone be out of town at/near the time of closing? Let the team know, so they can coordinate. Example 2: Did you provide ALL requested documentation requested up front? If not, ask what else you can provide. Example 3: Do you have need to move money, change jobs, pay off debt, co-sign on a loan, you received an inheritance, or you found $10,000 under your mattress? Don't do anything without communicating with your team! The KEY = Be proactive and ask questions.

Keeping everyone continuing forward to the closing table is important. When you have a last minutes issue, you must: 1. Listen to the issue at hand 2. Research all effective solutions to find the best three ways to resolve the issue 3. Communicate to the parties the three resolutions and why, 4. Be respectful, however let them know that the situation needs immediate attention. 5. Communicate to resolve the issue to the satisfaction of all, If possible. Always listen.

Prioritize maintaining a composed demeanor. Your poise directly influences your clients' confidence levels. When challenges arise, focus on understanding the situation thoroughly. Gather all pertinent information and effectively convey potential remedies to all parties involved. Remember, each transaction presents its own set of intricacies, but rest assured, there exists a distinct resolution for every issue.

Contingencies are your friend. Having them included in your initial offer is important, to ensure you have an "out" in the event of a piece of the process going differently than expected. This could include things like a home inspection that indicates major repair issues, mold, etc. or an Appraisal inspection that reflects a lower market value, than the original offer price that was agreed to. At the same time, remember that the more contingencies you ask for, the less likely your offer may be accepted over another Buyer's. There is a balance in having the RIGHT contingencies in your offer to protect your interests, while still making it competitive enough to be accepted. A good Realtor will have insights into what makes a good offer.

Contingencies are used for many reasons in contracts: 1) As requirements: contract contingent on buyers obtaining mortgage in ____ number of days - if the buyer doesn’t get a mortgage to purchase, seller cancels contract, returns buyers money? Contract contingent on seller providing proof of permit for roof replaced in 2023 within 10 days pf acceptance of the contract by both parties. 2)as modifications: contract contingent on seller being able to change the zoning of the property from x to X within so many days of acceptance by both parties. 3) as further agreements - contract contingent on Seller Agreeing to allow buyer to store his car in garage until closing. Contract contingent on Buyer agreeing to allow seller to leaseback.

In PA agents represent Buyers. Having established a professional, good relationship with the Seller's agent goes a long way toward resolving any issues that come up right before settlement.

Always consult a professional. Remember that each person has a specific job. Your attorney is on your side and represents you in the transaction. Title companies do Not represent you, only attorneys. Typically, at least in Florida, real estate agents are transaction brokers and do not represent anyone in the transaction. Real Estate agents have a duty to be honest, truthful, and to always disclose along with other duties required by FREC. When discussing inspections, Talk to your inspector, electrician, plumber; anyone you hired, they work for you. Do not be afraid to ask questions.

Never feel that your Real Estate team is "too busy" to help. There are no dumb questions, when it comes to one of the largest financial decisions you will ever make. If for any reason you feel you are not getting the guidance you need from a member of the team, it may be time to find a different professional.

find the experts, ask them tough questions to test their capabilities and follow through process. once trust is established and we find the expert, keep open lines and never hesitate to bring concerns or key questions to the experts needed to facilitate your home purchase or home sale

Delays can happen with anything in business. There can be delays, However there are also ways in which you can help to avoid them.: 1)Ask you agent or closing attorney for a timeline to help keep You on target. 2)Place reminders for the items with a due date of two days before they are actually due. You will be best suited to avoid the delay. 3)There are documents you will need to apply for the mortgage, have them ready. 4)Get your inspections done so you have time to review them. 5)Immediately, once committed to the purchase, apply for the insurance. Make arrangements for the surveys and elevation certificates with your attorney 6)Stay in communication with those involved and ask for continued updates. Things happen, be prepared.

This is especially important when you are dealing with a "back-to-back" closing. At times, there can be multiple closings in a row like domino's, where one party's transaction being delayed can affect others down the line. Example: You are a first-time buyer, but that Seller is immediately buying & moving into another home, from a Seller who is also buying & moving into another home. Knowing the situation and communicating well, will help everyone prepare for realistic closing dates and ensure good cooperation, especially if a closing is delayed beyond anyone's control.

"Good things come to those who wait. If a thing is worth doing, it is worth doing well. If it is worth having, it is worth waiting for. If it is worth attaining, it is worth fighting for." - Oscar Wilde This famous quote could not prove more true, when it comes to finding a place to call home and build generational wealth for your family. Despite minor delays that could add minor inconveniences or costs, be patient and work with the team to make homeownership a reality. It will all be worth it.

Congratulations - you are officially a homeowner! ... but now what? Most Professionals will invite you to call them, if/when you want to buy, sell, or refinance down the road. However, who are you going to rely on for financial advice while you live here? It's important to keep in close communication at least ANNUALLY with your original Real Estate team, to obtain guidance on the market conditions, tax strategy, debt management, budgeting, insurance needs, retirement, estate planning and more. This is also the time to bring in a licensed Financial Advisor for a FREE consultation, alongside your original team, if you don't have one already. Their advice can be invaluable. “If you fail to plan, you plan to fail.” - Benjamin Franklin

Most buyers make the mistake of waiting to establish their financial options, until the moment they want to make an offer on a property. This is the #1 reason problems occur, out of all of the above mentioned points. If you are even THINKING about buying, selling or refinancing a property - then the first step should be to contact a qualified Mortgage Professional + Realtor together, so they can learn where you're at, walk you through options, share industry insights & provide a clear plan. Even if this may be 1-5 years away, it's never too early to get started. Taking this one step early on, will save time, dollars and frustration, above any other step that follows. And who knows? You may be closer to homeownership than you think!

Do not just work with someone because they have a license. A license does not mean: 1) Your agent understands the ins and outs of real estate. 2) Your agent knows the neighborhood you want to purchase in and is familiar with the values and things happening. 3) Your agent Knows the zoning of the property and how to run the history of permits and construction limitations. 4) Your agent can provide you with the flood information from FEMA 5) Your agent can provide you with the current tax information and the Estimated tax (Broward County) A good agent is a well rounded agent who is full knowledge and a resource of information