After deciding the best available option for buying a house that is by mortgage or cash payments the next step is to get a fast closing of your home sale. As per Yuval Golan a famous real estate investor in Queens New York ‘Everyone wants to get a fast closing on their house sale, but sometimes problems occur and it is best to solve these problems sooner, so that the transactions can be quickly completed’. Furthermore if the delayed closing is due to unexpected problems such as a low appraisal or mortgage loan then the seller will lose out on his tax credit. Here are a few helpful tips presented by Yuval Golan on how to identify problems, correct them and get a fast closing on your house sale.
Select an Early Closing Date
If you have any deadlines to meet then it is advisable to set the closing date at the earliest possible time. If you choose an early date then you will always be safe if some unforeseeable event occurs.
Get a quick clearance for your title
‘Before closing the transaction your real estate lawyer will require a title report and would conduct a detailed title analyses’ says real estate investor Yuval Golan. Therefore it is always important to order the title on the prescribed time in this way the buyer and seller will benefit from fast closing. So in case the lawyer finds that there is an outstanding debt on the house then it has to be cleared in order to complete the transaction. Yuval Golan emphasises that if you want to get fast closing on your deal then ‘make sure that you order the title beforehand and immediately after the contract has been signed’. In this way you will be well equipped in case of any emergencies and before the closing date has been elapsed.
Fast Closing with Cash
If the buyer is paying for the house with cash then he does not have to wait for a month or more in order to close the deal. This is due to the fact that there are no loan or appraisal issues. As soon as the home has been properly inspected and the selling price is decided a fast closing of house sale can result in a matter of few days. ‘Sellers always prefer cash buyers because fast closing puts the money in a sellers pocket sooner’ says Yuval Golan. In a similar way cash buyers can also benefit from a fast closing of house sale, because they do not have to go through the trouble of paying for a mortgage application and appraisals.