Knowledge is Power

Closing day is an exciting day for Buyers, Sellers, Realtors, Lenders and Escrow Agents alike. A new chapter begins for the Buyers, and another chapter closes for the Seller. Realtors, Lenders and Escrow Agents get to watch all of this unfold and keep their Buyers and Sellers happy….most of the time. Closing day usually goes off without a hitch, however sometimes things don’t always go as planned.

The buyer sits at the closing table talking about the new car they just purchased without previously mentioning this to their lender. Turns out the new loan payment now disqualifies them for the home loan (whoops)! Or there is the borrower who decided to change jobs without telling anyone. These can be very detrimental to the purchase of real estate if you are obtaining a mortgage to buy your new home. Charging or financing anything during escrow can really hinder your ability to qualify for your home financing. Educate your buyers early in the process of the do’s and don’ts while in escrow on a home purchase. A buyer may not think what they are doing is a huge deal, but it can break the entire deal. This leaves not only the Buyer in a dilemma, but the seller as well. Educate, educate, educate….knowledge is power!

If you have questions regarding your closing, please feel free to reach out to our team at Dodge County Title & Escrow, (402)721-5833 or visit on the web.