Deadlines: Why “Close” Doesn’t Count

Hanley TeamClients, First Time Buyers, Lenders, Mortgage Brokers, Mortgages, Real EstateLeave a Comment

As mortgage requirements get ever more stringent, we’ve had to ask clients to provide more and more documentation to close their deals. The problem? Time to properly respond to these new demands.
As much as we’re used to working wonders, we’re seeing too many close calls. To make your closing go as smoothly as possible, we have to be tough on real time deadlines.

We Need All Supporting Documents TEN Days Before Closing.
Why 10? Because lenders are getting pickier about the kind of documents they accept. We have to have wiggle room to respond if – after reviewing your file – they ask for additional information.
Although we try to anticipate all possible scenarios and ask for your docs up front, new conditions occasionally crop up. That ten-day window gives you the time you need to find additional paperwork and get it to us. The result: your deal closes.

And Then There’s The Legalese.
After the lender has signed off on your file, it goes to your lawyer. There are a couple of things to be aware of at this stage. First, complications do arise and you need time to deal with them. Secondly, you must also sign your mortgage documents in person. By not leaving everything to the last minute, you’ll cut the stress, and your closing will be a success.

Get Your Docs in a Row.
When we give you a drop dead date, it’s not just a suggestion. With your co-operation, we can do our best for you. Without it, we can’t.

Get in touch with us for more information:
Office: 416.323.0535

Stay up to date on new mortgage trends & rules:
Instagram: hanleymortgagegroup
Twitter: hanleymortgages
Facebook: Hanley Mortgage Group

Leave a Reply

Your email address will not be published. Required fields are marked *