Understand every form you are to sign at closing.
You may not need to read each word to accomplish this. You are to be watching out for gotchas. For example, a pre-payment penalty addendum.
There are so many documents at closing, they all see so legal like. It does’t make sense to read all at closing. Here are three suggestions to consider.
1- Ask for a set of documents to review a day before you are to sign. You can review them at home, even with anothers help.
2- Have your real estate agent go with you to signing. Hand them each page to look at before you review it. Note, some agents have been taught not to do this, so don’t be surprised if they won’t. It’s a liability thing. However, I have seen top producing agent’s that go to signings as a standard practice.
3- At least make sure you know the purpose of the document. A pre-payment penalty, is a pre-payment penalty irregardless of the legalese.
Congratulations if this applies to you soon. It’s fun getting that new home. Larry Cragun
