New Orleans Louisiana Real Estate and Community Blog 

We’ve all heard horror stories about closings on a home sale that never occurred or were seriously delayed. The title on the home was never cleared properly or the buyer’s loan was not approved or something on the HUD settlement statement is wrong. And these are the easier problems to fix.

What can you do to help the closing on your new home purchase or sale go more smoothly? Here are some helpful tips:

1. As a buyer, call your bank frequently prior to the closing date to make sure they have everything they need to keep your loan moving through the underwriting loan approval process. Often mortgage companies are overwhelmed and understaffed, not calling you about issues that you must resolve until it’s too late to close on schedule.



2. As a seller, talk to your current mortgagee and ensure you understand what funds they need to clear your current mortgage and what proceeds should come to you once the sale is finalized.



3. Try to schedule your closing earlier in the day as compared to later in the afternoon. That way if issues arise during the closing, your lender, their support staff and other businesses involved in the transaction will still be open to help you solve problems and close that day.



4. Bring a driver’s license or federal identification to the closing. In Louisiana, the closing company will need to have a copy so they can prove you are authorized to sign.



5. Make sure whatever funds you need to bring to the closing are in the form of a cashier’s check. Often the cashier’s check must be made out to the company handling your closing. Verify with them who to make the cashier’s check out to and the amount you need to bring prior to the closing.



6. Review your HUD Settlement Statement BEFORE the closing. Often there can be mistakes about insurance information, loan payout amounts, taxes to be collected and what closing costs the seller is paying for on behalf of the buyer. Correct these issues before you sit at the table during the closing to save time.



7. Finally, talk to your real estate agent about all of the above. We’re here to help and can often spot potential issues that we may need to solve together to get you into your new home.

As always, if you have any questions call me at 985-707-5035 or email me a pbennett@latterblum.com. If you’re moving anywhere in the country, I can get you there. Let’s get you MOVING!

Posted by:Patricia Bennett