Buying or refinancing a home can be a wonderful time for many people. Either you’re getting into a new home, tapping into the equity in a home you already own or possibly just refinancing your home into a better interest rate. Any way you slice it; these occasions are generally something to celebrate.
However it can also be a time of high stress, if you are a person who is a big procrastinator, failing to get the proper paperwork in order and get it sent over to your real estate professional in a timely matter. It can turn into a never ending email, faxing and signing nightmare.
Most of us really like things to run smoothly and try to avoid high stress situations at all cost, so let’s discuss a few ways to make your life easier when dealing with real estate.
The first thing you want to focus on is getting a list from your real estate professional of all the basic items you are going to need to close your deal. After getting the list, you want to go through and check off as much on-hand info as possible.
Second, you want to make sure everything you have is up to date: check stubs, bank statements, your most recent tax returns and W2s. No, we can’t use your paystubs from January and February in September.
Also be advised that in TRID (TILA-RESPA Integrated Disclosure), laws were started in October 2015 which no longer allows real estate professionals to have documents signed and sitting for a long period of time. After being signed the clock starts ticking and if the process is not moved along fast enough, you will have to resign and date certain paperwork.
Don’t be afraid to say I don’t have this particular item. Our job is to help you every step of the way, while making the process as simple as possible. Letting your realtor, broker, or agent know early can save you a lot of time in the long run.
At WLM Financial, our goal and my dream is to teach people how to position themselves to be financially free, and with a little bit of hard work you can get there.