There are a lot of moving parts in a real estate transaction. That is why our Tip Jar for today reminds you to remain flexible when it comes to planning your settlement date when you buy or sell a home.
We see many delays in settlements these days for a number of reasons (which is another topic in altogether). Buyers and sellers should not make plans written in stone. Our suggestion for consumers is to avoid scheduling trips, important business meetings, and movers on the day of settlement. Leave yourself a few days of flexibility in case your settlement is delayed by an hour, a day, or even a week. If you are selling your home and buying a home with the proceeds the very same day, make provisions with all parties involved so a delay in one settlement will not have a detrimental impact on all of the "tie-in settlements" happening.
Like I said, there are many moving parts to a Real Estate and Mortgage Transaction. If you are considering buying or selling a home, use a Realtor and a Mortgage professional that has handled many transactions. Experience comes with time and hands-on experience. Be flexible!
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