Home Closing issues to avoid.

1.  Liens on your property. Liens are outstanding debts secured by your property that must be paid before a sale is closed. Examples of common liens for unpaid balances include: property taxes, Homeowners’ Association dues, or past remodeling expenses.

2. Termites. It is very important to be able to prove that a home is termite-free, because a buyer can back out and/or delay the closing until the termites are removed.

3. Renter in residence. It is very important to make sure the lease agreement gives the renter enough time to move and give the buyer the keys to their new home. This notice period varies by state. It might be a good idea to close escrow a few days after the lease expires to give the buyer enough time to inspect the property.

4. Insufficient Closing funds. Make sure you know how much money you will need at the time of closing. This could be anywhere from a few hundred to a few thousand dollars. Keep the timing in mind if you decided to borrow from your 401(k) to close the deal. It could take a couple weeks to transfer the funds into your account.

If you have any questions about closing issues on your home, feel free to contact me at [email protected] #militarybuyers #militaryrenters