Buying a home or piece of property is a major investment. It is exciting, too, to imagine the possibilities. Whether you plan to live in, develop or rent out your newly acquired real estate, you do not want to have the process delayed by red tape. Lenders, buyers and sellers must all cooperate to ensure that a deal reaches completion in a timely manner, and it is not uncommon for problems to draw out the process.
There are several steps that you can take, luckily, to expedite the process of a real estate transaction and avoid any unnecessary delays.
1. Set an early close date
It is always best to plan for delays when you are dealing with real estate. When it comes to scheduling your closing, this means it is advisable to set a date that is actually several weeks sooner than you absolutely need to close. It is never wise to wait until the last minute, and choosing a closing date that is close to any deadlines can certainly jeopardize your ability to close on time.
2. Ensure the title clears
Many people have entered into a real estate deal only to realize that the title of the property in question made it ineligible for purchase. This leads to wasted time and money, so of course, it is important to clear the title as soon as possible once you decide to buy or sell a piece of property.
3. Complete appraisals early
Having a piece of property appraised is one of the most important parts of any real estate transaction. It is not always a quick and easy process, though. Having your home appraised might take a while, and if the result is incongruent with the price you have agreed upon, further investigation will be necessary. This is why it is important to get appraisals done as soon as possible.