Real Estate Closing Date of a House Property is something to Think About

The desire to change the closing date of the real estate deal can happen to you, regardless if you are the seller or a buyer. The closing date is the agreed time wherein the buyer and the seller would finish all the paperwork and documents. This is usually around 50 days after an offer is accepted, although the two parties may talk about it at the start.

Changing the Closing Date of a Real Estate Process

Sometimes, there could be reasons that you want to change the closing date of a house property. If you are a buyer, you may want to speed-up the process to transfer in as soon as possible, or slow it down when unforeseen circumstances happen like accidents. On the other hand, you may also want to change the closing date if you are the seller. Probably, you still want to organize a garage sale for your stuffs, you need to finish some lawsuits regarding the property, or you want to speed it up to have the cash as soon as possible.

However, you can face some repercussion if you change the closing date. You need to inform all the people involved in the process like the lawyer, mortgage bank, Title Company, and the lenders. This is for you to follow the proper steps in changing the closing date, thus avoiding serious legal consequences. Make sure that all people involve agree about the changing of the closing date.

You cannot just simply change the closing date easily, but you need to go through a process to get the approval of everyone. This can help you avoid paying penalties, or minimize such charges that you need to clear. This is because it is not just about you and the buyer or seller, but there are also people who are handling the real estate process for you.

The closing date of a house property real estate is agree upon the initial acceptance of the offer. Such agreed date is submitted to all the people who are involved in the process like the real estate lawyers, mortgage bank, Title Company and lenders. This makes it important for you to inform all of these people if you want to change the closing date, and have their approval regarding it. This can help you to change the scheduled time, with lesser hassles to worry you.

 

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