5 Things You Should Know as Closing Day Approaches

  Once a seller accepts an offer, the time comes to sign paperwork which seals the deal. What most Ohio home buyers don’t realize is that a real estate process is complex with lots of nuances to the transaction. Learn some important things to keep in mind on the road to home ownership.   Expiring Mortgage Mortgage interest rates may fluctuate daily. Rather than have the stress of the interest dial moving up and down, a bank will ‘lock in’ an interest rate for 45, 60 or another number of days. Once this expires, a higher rate kicks in. Some issues that may come up as a result may include: Open permits Illegal renovations Roadblocks which require stop to loan process until resolution A previous homeowner may have done renovations that do not meet today’s standards and require updating prior to selling. This can require hiring an architect and documenting the issue before a bank will approve the loan. Be cautious when using a rate-lock expiration as it may throw plans out the windo
http://www.cprealestate.com/blog/2017/01/11/5-things-you-should-know-as-closing-day-approaches

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