Tuesday, May 28, 2013

How to Close Quickly on Your Northern Virginia Home

You've picked the perfect home and started to process of closing— but a quick closing has become a thing of the past in real estate markets across the country. In today's economy and with current mortgage standards, you're looking at close to three months before your NOVA real estate deal is all said and done. When buying a home in NOVA, the following bits of advice just may take off a month or two and get you that much closer to moving into your Northern Virginia dream home.

The Closing Documents
As a NOVA homebuyer, be sure to sign all of the bank paperwork and send in the necessary documents as soon as possible. One document you should prepare to view in advance is the HUD-1 settlement statement which states the required costs and fees associated with the deal. Viewing and familiarizing yourself with the real estate documents will cut hours off of your closing time and give you extra alone time with your loan papers.

Bring the Check
It's important to bring a certified check to the closing and not one that you find in your checkbook. According to MSN Real Estate, it's important to ask your escrow company if they prefer your payment be by wire transfer or cashier's check. This can save you a number of weeks or days as they are able to cash the check and certify your funds.

Appraisal Process
The appraisal is a major part of the closing process. The appraisal process can take weeks if the appraiser is stalled, but by working with the seller, the appraiser can work in a timely manner and assess every space. If the appraisal comes in lower, you then have time to negotiate with the seller on the repairs and updates needed.

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