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4 issues that can disrupt your closing and how to avoid them

As a long-time Cape Coral resident, you are downsizing and moving to a beautiful, maintenance-free condo in an adjacent neighborhood.

Having found a buyer for your home, you want as smooth a transaction as possible. Here are four issues to avoid before closing.

1. Cloud on the title

The title confirms your legal right to own and sell your property. Once you accept an offer from a prospective buyer, the title company will perform a search to find out if any defects or clouds on the title exist. Issues can include outstanding property taxes or contractor liens. Make sure you pay off any debts and taxes that could affect the sale. Your real estate attorney can review all documentation pertaining to your property to ensure you have clear title.

2. Final walkthrough dilemma

Shortly before closing, the buyers will walk through your home to make sure it is in good condition. There should be no surprises. If you took the window treatments without telling the buyers or if the kitchen countertop was not repaired as expected, your closing may come to an abrupt halt. Every detail about repairs and seller-buyer negotiations should be in writing in addition to verbal communication.

3. Closing disclosure problem

The paperwork concerning the terms of the buyer’s loan and any closing costs comprise the Closing Disclosure or CD. The lender or title company must send the CD to the buyer for review no later than three days prior to closing. Make sure your agent is in touch with the buyer’s agent about timing in order to avoid a delay in closing.

4. Document errors

Finally, simple mistakes in paperwork such as incorrect addresses or misspelled names can spell trouble. Request documents in plenty of time for review before closing day and report any errors to your attorney.