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Things That Can Go Wrong When Closing On A House

September 9, 2016 · No Comments

Things can go wrong at closing.

If you have ever bought a house before you already know that what can go wrong likely will go wrong at closing.   Most anyone who has bought a home before knows that some things that happen at closing are small but some things can be big obstacles if you let them.  Below are a few things that may go wrong at closing and ideas on how to handle them.

  1. Title issues may pop up on closing day and these types of things can be a bit disheartening if you let them. For example you may find out on closing day that there is an outstanding lean on the home you are trying to purchase.  If this happens to you, take a deep breath and let the Realtors do their job and try not to get too upset about it until there is reason to think you might not get to buy the house.  Basically it is important to stay calm in this type of situation.
  2. Another issue that may happen on closing day is the actual money transfer. You may come with a cashier’s check at closing thinking that is the appropriate form of payment when your lender was looking for a certified check or cash.  The best way to not have to deal with this mix-up is to ask upfront what type of payment is preferred.
  3. Yet another issue that may arise at closing is you find out that something that you thought was being sold with the house actually isn’t and it’s going with the sellers instead.  For example if there was an outdoor shed on the property when you went to view it and you find out at closing that the sellers took it with them, you might be upset.  The way to fix this issue is to decide what is more important to you, that you have a shed or that you get the house you want.
  4. Lastly there might be a problem with your credit at closing even though there was not a problem beforehand. To avoid this type of situation, don’t change jobs during the process of buying a house and certainly don’t go out and buy a car or charge stuff on your credit card.

Now that you know a few things that might go wrong at your home closing, do your part to not let any of them get the best of you.  Stay positive and be patient.  Good things come to those who wait.

Courtesy of Gainesville FL Realtor Linda Luetjen.

Categories: Buyer Info · Home Ownershio · home ownership · Real Estate
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