Closing On A Home Do’s And Don’ts

closing a home contractWhen you are in the midst of purchasing a new home and preparing for closing, you are of course very excited about the thought of being a homeowner. However, it will still be very important to understand the process and make sure you do things correctly between closing and finalizing your purchase. If you make mistakes along the way, the closing process could be significantly delayed or even cancelled altogether. To make sure things go as expected, turn to Glendale CA real estate lawyers at the Minassian Law Group.

 

Do Pay Your Bills On Time

When you are preparing to close on your new home, it is not the time to start being late paying your bills. If you miss a payment or two along the way, your lender may start to have second thoughts about approving your loan. Therefore, keep track of your bills and make sure everything is paid on schedule.

 

Do File Your Taxes

Since your lender will need a recent tax return prior to giving final approval on your loan and clearing the way to closing, file your taxes on time rather than delaying and relying on an extension.

 

Do Not Make Large Purchases

If you want to buy a new car, an entire set of new furniture, or other big-ticket items for your home, delay these until after you have completed the closing process. If you take on significant debt in the midst of closing, your lender will start to get nervous and possibly think you will not be able to make your mortgage payments.

 

Do Not Change Jobs

If possible, do not change jobs during the closing process, especially if you are looking at self-employment or a commission-based job.

 

Should you experience delays or other issues during your closing process, consult at once with Glendale CA real estate lawyers at the Minassian Law Group.