One of the most reassuring statements for a prospective homebuyer is the confirmation of “clear to close.” This declaration represents a significant achievement within the intricate realm of mortgage lending. It signifies that the underwriter has meticulously reviewed and approved the application, paving the way for the subsequent stages involving document signing and the closing of escrow. While undeniably pivotal in the home purchase process, it’s important to note that obtaining “clear to close” does not mark the ultimate culmination of the property acquisition journey. There remain several variables that can exert influence on the smooth transfer of the property title.
Once the underwriter approves the file, the purchaser will be furnished with the closing disclosure. This document will be delivered at least three days before the scheduled closing date and will detail the ultimate fees and expenses. While there should be no unexpected elements in the document, it is imperative for the buyer to thoroughly review it to ensure the terms are agreeable.
Following the “clear to close” milestone, the next crucial step involves conducting a final property inspection. During this phase, the buyers, accompanied by their Realtor, will inspect the home to ensure that its condition remains consistent with what was agreed upon at the time of the initial offer. Additionally, they will verify whether any previously agreed-upon repairs have been addressed. Furthermore, it’s worth noting that many lenders often conduct an additional credit check and job verification prior to the closing day. Any alterations in the buyer’s financial situation at this point could potentially hinder the loan from reaching completion.
If you or someone that you know has real estate questions or wishes to discuss how I can help, please contact RE/MAX Results, Shannon Lindstrom, Realtor, at 612-616-9714 or visit www.ShannonLindstromRealtor.com today.
Shannon Lindstrom
Realtor®, AHWD, CDRE, CREDS, CRS, GREEN, MILRES, MRP, VCA
RE/MAX Results
Direct: 612-616-9714
[email protected]
[email protected]
www.ShannonLindstromRealtor.com
www.ShannonLindstrom.info
www.MinnesotaMilitaryVeteranRealEstateAgent.com
