by Janet Nettles, Middle Tennessee Properties
The last thing a buyer of seller want to hear is that the closing is going to be delayed. Three major causes for a delay are lenders, appraiser and inspection.
Before starting the search for a new home, the buyer should talk to a lender and get pre-approved. The buyer may not know what his or her credit score is. Have a lender check what the true scores are.
Your realtor can provide you with a list of documents the loan officer will ask for. By taking these with you, the buyer can jump-start the process.
Keep your finances steady. Don’t quit or change jobs; don’t open new credit cards or over use your cards; don’t buy a new car.
Sometimes the biggest problem with appraiser is finding one. Lenders are finding it difficult to find appraisers familiar with the area they have been ask to do an appraisal in. Realtors can help by knowing the average time it takes to do the appraisal. Allowing enough time when writing the offer can keep the transaction moving smoothly.
A home inspection is done to let the buyer know what problems there may be. Repairs are negotiable. Sellers don’t have to make any repairs or might make all repairs, or anything in between.
The buyer should always remember that buying a house is a business deal. It doesn’t become your home until it’s closed.