The closing can be very confusing. Sometimes the seller(s) is there. Realtors, attorneys, title agency closers, mortgage representatives – and you – the buyer. The people not actively doing something at any given time are talking in the background. Piles of paperwork are on the table, most of which require your signature. You’ll have writer’s cramp before you are done. All of this can easily add up to one thing – mistakes.
When we purchased our first home almost 40 years ago, it was my wife that picked up on a mistake in addition that would have cost us in excess of $3000. And 40 years ago, that was a lot of money. So yes – mistakes do happen.
Here are a few hints to ensure that mistakes do not occur.
Don’t Rush –You need to make that sure you understand everything. When you close on your home and your mortgage, this can easily be the biggest financial commitment you’ll ever make – until the next home. As to the other people there? They will wait until you are ready to sign and you know what you are committing yourself to.
Ask Questions – If you don’t know or understand, you shouldn’t be afraid to ask a question because you think you “should” know the answers. This is a complicated situation. If you’re not sure of anything, don’t hesitate to ask
Speak Up – If you think something is wrong, question it. People do make mistakes every once in a while. Trust your feelings and ask the question. Asking for clarification now can help avoid problems in the future.
Don’t Try To Make Anyone Else Happy – Reading everything and asking someone to clarify something for you delays the process for everyone else. But it’s your money, your obligations – not theirs You are the one who is paying the mortgage. And you are the one who counts.