3 Things That Will Ruin Your Scheduled Home Closing
3 Things That Will Ruin Your Scheduled Home Closing Closing on a home is an exciting milestone, but it can quickly become a nightmare if certain pitfalls are not avoided. To ensure a smooth and timely closing, you should be aware of these three critical issues that can derail the process: depositing closing funds at the last minute, missing a bank wire deadline, and accepting fraudulent instructions. 1. Depositing Closing Funds Last Minute One of the most significant mistakes you can make is waiting until the last minute to deposit or transfer your closing funds. Closing funds typically include the down payment and other associated costs, and these funds need to be cleared and verified by the bank before the closing can proceed. Oftentimes, people will leave funds in an investment account or 401K, and not do the appropriate homework on when and how those funds can be transferred and released. Why It Matters: Banks often have specific hold times for large deposits, especiall...