We’ve all heard the saying, “No news is good news,” right? Well, not necessarily in the real estate process. While not hearing anything could be deemed as everything is moving along smoothly, it could also mean there are critical dates and deadlines being missed.
There should be one person at the helm of the entire escrow/transaction process and typically, that person should be your licensed real estate professional. A lot of companies will enlist the help of a licensed transaction coordinator and that is perfectly fine. And you thought finding the perfect house was the hard part!
The person working on your real estate file will be with you from the beginning of the process to the housewarming party. They will assist you with any paperwork that needs to be signed, inspections that need to be ordered (your home inspection, a pest inspection and a radon inspection are all examples of what you might be doing) and any general questions you may have along the way.
There are dates that need to be met regarding your loan process. The interest rate that you’ve locked in typically expires within a 30-45 day window. This makes it crucial that you as the buyer are being counseled as to what is expected from you during this time. Usual examples are: Don’t quit your job and don’t buy a new Mercedes! Regardless, this should be explained to you.