When buying a house, you will not take ownership of it until you have attended and completed the closing. The closing is the time when the title of the home is transferred into your name, money is exchanged, and paperwork is signed. While this can be a very exciting day, it can also turn out to be problematic if issues arise that you were not aware of. Here are three issues you will not want to face when closing on your home, and here are some tips to help you avoid running into these issues.
Issues with the title of the home
If the home you are buying has issues with its title, you will want to make sure you know about these issues before the date of closing. By finding these out ahead of time, you will have the time needed to make sure the issues are fixed before you take ownership of this title. You can easily find this out by contacting your lender or the title company several days before the closing. If you discover an issue, make sure you tell your real estate agent that you will not close on the house until the issue is remedied.
Finding out there are neighborhood covenants
A second thing you will not want to be surprised with at closing is a set of neighborhood covenants you knew nothing about. If the neighborhood has covenants, you should know about these in advance. If you don't, you may end up with restrictions you do not like. For example, you may have plans to put up a barn in the backyard; however, the covenants may not allow this. Before you close on the home, make sure you find out from your real estate agent if there are covenants in this particular neighborhood.
Missing items from the home
A third surprise you will want to avoid is discovering that certain things are missing from the home. This could involve missing light fixtures, doors, cabinets, or anything else you assumed came with the home. To prevent this, tell your agent that you would like to perform a walk-through of the house the day before closing. If the items are still there during the walk-through, you should be safe.
There are a lot of different things you should do before you close on the house you are buying, and your real estate agent can help you complete these. To learn more, contact a good agent in your area today.