Thursday, September 29, 2016

How to Avoid Closing Delays on Your North Shore IL Home

When you've found the perfect home on Chicago's North Shore, it may seem like the only thing left on your list is the home closing. And what could stand in your way? As a matter of fact, there are dozens of issues that can arise during this window of time and force a closing delay that you didn't see coming.

But not to worry! As your North Shore real estate expert, I am sharing a few ways to avoid closing delays and keep everything on schedule. The next thing you know, you'll be settled into your Glencoe, Winnetka, Northbrook, Deerfield, or Highland Park home!

Stay up to date with your lender
Oftentimes lenders will require another signature or more paperwork to keep your closing on track. In fact, in today's real estate market with increasing requirements, lenders may ask for more than they have in the past. Communicate with your lender and if they ask for certain documentation, be sure you get it to them right away! Even the slightest delay can risk pushing your closing delay further into the future.

Talk to your real estate agent
Your real estate agent is on your side and will work to stay ahead of problems— as long as you keep in touch with them! Your agent will know how to spot issues before they arise and determine a plan to fix them that will not affect your closing date. Check in with your agent weekly to see if there have been any changes from any parties involved in the transaction. If there are, your agent will be able to fill you in on the next steps.

Keep your finances steady
Now is not the time to take out a new loan, apply for a new credit card, buy a new car or finance all of the new furniture you plan to put in your new North Shore home. You will want to keep your finances as steady and stable as possible, with little to no changes. Continue to pay down debts and avoid falling behind on bills to keep your credit score up. Even a change in jobs—or a job loss, while unexpected—can risk you delaying your closing or losing the loan altogether.

Buying a home comes with many milestones along the way and it's important to stay on top of them! If you have questions about your homebuying timeline or available properties in Glencoe, Winnetka, Northbrook, Deerfield, Highland Park or the surrounding areas, give me a call today!

Janie Bress
Your North Shore Real Estate Expert

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