Thursday Thirteen

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Thirteen Things (I didn’t know) About Closing on a House

1.) Siding cannot have hail damage on it on the day of closing UNLESS you have special financing to take care of said hail damage.  This special financing is nearly impossible to get, however, so you are better off to walk away from any prospective house with hail damage.

2.) Any and all checks written to you in the past 30 years must be explained.

3.) Your general contractor must fill out all paperwork promptly and correctly.  And every “t” must be crossed and “i” must be dotted.  (Make sure that all writing is legible, as well, or your financing company might boot it back to you.)

4.) You must know how your retirement accounts work, even if you have no plans of accessing them until you retire.

5.) You must be able to communicate with your mortgage broker.  (Who knew?!)

6.) You must understand your life insurance policies and the terms that relate to them.

7.) You cannot forget any little detail, like the $37.00 that your sister paid you for Mary Kay last month.

8.) You should plan on having enough ink to print 384 copies with your personal printer…or you will be forced to pay big money for printer ink at a store that carries ink 24 hours per day.

9.) Be sure to pray for the health of the families of anyone processing your loan – a sick baby can set things back by a week or more.

10.) You must spend 24/7 in front of your computer because a necessary email may come in at any time and your delay in responding can delay the entire process by weeks.

11.) You have to know the language as spoken by mortgage brokers and their associates.

12.) You ought to always play “nice” with your mortgage broker and their associates, even when you are ready to scream.

13.) Bribery is sometimes a necessity.

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