Long are the days of guaranteed thirty day closings in Columbia and especially around the country. Now underwriting is taking a full week, an appraisal may have to go back and forth several times, title work has to be checked, double checked, lenders are requiring full proof of repairs made, etc etc.
But do not be discouraged! It is still done every day and done easily. Barring unforeseen circumstances (probate issues, major house problems, etc) my houses can and will close inside the thirty day mark.
The most important factors are the following. Some may think they are obvious, but to many they are not.
A. Pick a good Realtor. Know that they will get everything the professionals ask for to get a house to close. Know that they want the house to close on time. Know that they are most importantly, competent.
Obviously you know this is the most important. Columbia, SC is very lucky to have all the great Realtors that we have. Unfortunately, there are just as many bad ones as there are good ones. Ask them how they advertise, see their listings, ask for references, see their website, etc, etc.
B. Pick a good mortgage broker. The buyer has the right to choose which mortgage broker they want to do their loan. Cheaper is not always better, but neither is expensive. Mortgage brokers have to eat as well. Make sure the mortgage broker knows what they are doing. Obviously, every Realtor has a mortgage broker they recommend. Usually that is because they know the people can get it done right, fast, and for a fair price. The Realtor will have a relationship built with these people, therefore they can ‘convince’ them to do things they may not want to do…etc.
C. Pick a good lawyer. I can not stress this enough! In the state of South Carolina, the buyer has the right to choose the lawyer, regardless of who is paying for closing costs. A lawyer can make or break the deal. They do the title work, document prep, deed filing, and close the loan. They do a LOT of work. The lawyer themselves is not that huge of a deal, but the practice is. Paralegals and assistants make or break a practice. I FIRMLY AND STRONGLY RECOMMEND THE LAW OFFICES OF THOMAS PETERMAN. In no way am I compensated for endorsing them. I have closed tons of loans in their office and Thomas, Dione, and Kristy make the deal work. Never have I had a problem they caused, Never have I had a client wish they had chosen a different lawyer.
With all this together, the loan should close quick and easy….unless you buy a car the day before closing.
Until next time,
N. Hunter Jackson
Contact info for Thomas Peterman–
Phone: 929-0708
Filed under: Columbia SC Real Estate Buyers, Mortgages, Sellers | Tagged: lawyer, mortgage, mortgage broker
