J. and I were recently talking about what separates us from our competitors. We talked about price, availability, product knowledge, reputation, etc. – all of the things that lenders most often talk about. But then we also got into a discussion about the benefits of closing on time.
I’m no stranger to moving, and neither is J. When my husband transitioned out of the military, our home sold in less than a week. We didn’t have a place to go. Two dogs, a bird, fish, a baby, my husband, and I crammed into a very small efficiency hotel for almost two months while we searched for a suitable new home. This was our choice, but this kind of inconvenience is a reality for many new homeowners whose purchase has taken a turn for the worst at the eleventh hour. To spare yourself this type of inconvenience and expense, it is important to avoid closing date delays.
There are lots of other considerations for times when a closing gets delayed, such as rate lock expirations, earnest money deposits or non-refundable deposits, childcare, school schedules, work schedules, scheduling movers, pets, children, per-diem costs, temporary housing arrangements, special needs, time lost at work … the list just goes on and on! A closing delay can therefore become more than a headache — it can become expensive!
Upon reflecting on our closings, we are absolutely proud to say that we very rarely encounter delays. J. and I exhaust every possible means and work tirelessly to ensure that our clients aren’t faced with these dilemmas. Because each purchase is different, there is no single ‘trick’ to avoiding closing delays other than frequent, candid, and accurate communication with your Loan Officer. A proactive Loan Officer can help you avoid closing delays by closely monitoring the progress of your loan application and following up with appropriate offices if there seems to be some problem that could prevent timely closing.
Moving into a new home, even under ideal circumstances, can be emotionally draining and physically exhausting. The best thing we can offer our clients is a proactive approach combined with a sincere understanding of the unique challenges each and every one of them faces. That’s what it’s all about.