Even under the best of circumstances, the title closing can be stressful. While you may not be able to avoid pre-closing jitters, you can prevent surprises with a little education about the process. Below are a few common surprises that buyers and sellers find when they close on their home.

What Should I Expect During a Title Closing?

Changes to Your Credit Score

Your credit history will be checked when you apply for a mortgage. However, even seemingly minor changes to your credit rating before the closing can stall the process. The lender may choose to rescind the offer or the interest on the loan may be increased. You can prevent issues by putting off big purchases and major financial moves, such as quitting your job, in the month or so leading up to the closing. 

Issues Discovered by the Title Company

The property you have your eye could be subject to some serious issues, which you won’t know about until the title search. Tax liens are a major issue since they will become your responsibility once the property becomes yours. Additionally, ask about restrictions on what can and can’t be built on the property before moving forward with title closing. 

Problems With the Final Home Inspection

Even if the initial home inspection didn’t turn up anything suspicious, sometimes conditions change; if there is a large storm in the area, it may expose cracks in the foundation that were not apparent before. Additionally, a different inspector may find other issues, such as an inaccessible crawlspace or a leaky roof, that the initial professional missed. If something turns up, don’t feel rushed. Put the deal on hold until you can agree on how repairs will be handled.

As a leading title company in Burnsville, MN, First Financial Title Agency of Minnesota, Inc. knows all too well just what can occur during the closing. That’s why they go above and beyond when providing service, whether that involves performing a title search or explaining your insurance options. Closing services include document preparation, examining a home’s title, obtaining contracts, and filing completed documents with the county office. Schedule a consultation today by calling (952) 831-5010. You can also learn more about title closing services by visiting the website.