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8 Closing Day Surprises You Might Experience When Buying a Home, and How to Deal With Them
After the often long process of searching for the perfect home, successfully getting it under contract, and getting everything done that needs to get done before closing day, the last thing you want is any issues in the final hours before strolling through that front door like you own the place.
Unfortunately, there’s always a chance for some surprise issues to pop up on closing day.
Most closings go off without a hitch, but every now and then, life decides to throw a curveball.
Don’t worry, there’s no need to panic! Your buyers’ agent has probably seen every single thing that could happen on closing day before, and will help you stay calm and get any issues resolved, so you can still head to the closing table in a timely manner.
But it’ll certainly help if you know what could happen ahead of time. So, let’s take a look at 8 closing day surprises that might just pop up on closing day so you’ll be prepared to take a deep breath, address them, and head to the closing table:
1) A Year’s Worth of Trash at the Curb
If you head over to the house for your final walk-through on closing day and see a line of trash bags at the curb, you might want to make sure it’s going to be picked up by the trash collectors before signing on the dotted line. Once you own the house, you own the trash at the curb and will have to deal with it if the garbage truck keeps driving right on by because it’s more than they’ll accept.
Ask the owner to hire someone to swing by and haul it away before closing, or set aside some money in escrow to cover any expenses you may incur if you have to hire someone to do it.
2) The Seller Hasn’t Moved Out Yet
Sometimes sellers underestimate how much time they’ll need to pack up and move, and buyers will find them still in the house feverishly trying to vacate the premises.
If it looks like they’re going to be able to get it done in a few hours, just suggest pushing the closing back a few hours to give them some breathing room and make sure they’re out before the house is yours. But if it looks like they still need a few days, you might want to discuss pushing the closing until they’re cleared out. If you absolutely need to close that day, you should consider drawing up some paperwork to firm up how long they’ll have to vacate, and perhaps a daily fee, to protect yourself from the owner overstaying their welcome or doing any damage.
3) The Seller Took Something They Were Supposed to Leave
That old gag where someone makes a prank call asking the person on the other end if their fridge is running is funny because refrigerators don’t just get up and literally run. So, if the fridge was supposed to be included in the purchase of your home and it isn’t there on closing day, the chances are it didn’t walk out the door on its own.
Hopefully it’s an honest mistake, and not the owner trying to pull a fast one, but if you get to the house and find that something they should’ve left behind is missing — like the fridge, washer, dryer, or even a light fixture — ask them to replace it before closing, or credit you enough to replace it on your own.
4) The Seller Didn’t Fix Something They Agreed to Repair
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Ideally the owner will forward proof that they repaired or replaced any agreed-upon home inspection issues ahead of closing day. But whether they did or not, you still want to make sure everything they promised to fix or replace was taken care of before heading to the closing.
If you find something wasn’t repaired or replaced, you should ask for money to be held in escrow so you can take care of it once you close on the house if it’s something minor or manageable. But if it’s a major issue that you would be concerned about taking on, you might be better off delaying the closing until it’s resolved.
5) The Lender Isn’t Wiring the Money
If you’re borrowing money from a lender, much of the paperwork you’ll do on closing day revolves around promising them to pay the money back. But before you can pay it back, they need to actually send it to you. Well, they won’t send it to you, per se. They’ll wire it to your title company or attorney, who will in turn give it to the seller. Unfortunately, sometimes the money isn’t wired on time.
This is almost completely out of your hands, unless of course they’re holding it up because you didn’t get them some paperwork they need. It’s usually just a matter of the lender being swamped, or dropping the ball, so don’t worry too much. Usually, you just need to let your agent, title company, and/or attorneys push the lender to get their act together and wire the money.
6) The Time Is Being Rescheduled
It takes more people to pull off a closing than you might think! Besides you, there can be title company reps, loan officers, attorneys, agents, the sellers who all need to be available at the same time for the closing.
Your best bet is to look at closing day as an entire day. Clear your calendar and be flexible, because there could easily be a shift in time to accommodate someone else’s schedule, or address any hiccups that occur before the closing occurs.
7) The Utilities Are Shut Off
If you get to the house for the final walk-through, or even show up to it after the closing, and the lights won’t turn on, or the gas stove won’t light, don’t worry! It’s probably not something wrong with the electric panel or stove, and just a matter of not having transferred the utilities into your name, and the previous owner having them turned off.
Most of the time this is something that gets coordinated before closing, but if it slipped through the cracks, it can usually be resolved with a phone call to the utility companies in a matter of minutes.
8) You Suddenly Realize How Much You’ll Miss Seeing Your Agent!
Your buyers’ agent becomes a huge part of your life during the process of buying a home! It’s common to speak with your agent more times in a day than you do with your best friend in a week while you’re working together. In fact, you might even feel like your agent is your bestie!
There’s no need to feel bummed out on closing day, though, because it isn’t the end of your relationship by any means. Sure, you might not speak multiple times a day, or see each other every week, but there’s a good chance you and your agent will keep in touch on a regular basis for years to come!
