If you are using a mortgage loan to purchase your home, understand that securing a mortgage loan has become a much more stringent process. This is a result of the 2009 housing crisis and subsequent financial restructuring. If you have any outstanding debts or credit issues, you may experience a few ups and downs in the process and your closing may need to extended with your seller’s approval. This is normal as the banks complete their due diligence. Know that everyone involved in this closing is doing their best to ensure that this transaction closes.
A few days before the closing date, you will get Clear to Close from your mortgage lender signaling that the mortgage has been approved. This is great news! Now the title company will schedule a final closing date and we will schedule the final walk through of the property.