Closing on a new home is one of the most exciting things consumers have the privilege of doing. After months of searching for the perfect place, submitting an offer and negotiating terms of the sale, the time to closing can seem like an eternity. While this procedure may seem arduous, and at times emotionally taxing, there are a few things you can do to expedite the closing process.

5 Tips for Streamlining Settlement

When purchasing a new home or even refinancing your current property, keep the following tips in mind for the most efficient, expedited closing possible:

• Complete pre-approval process and loan application promptly. The sooner you submit your application to the loan officer, the faster you can get the ball rolling on the closing process. Ensure the information you provide on your application is accurate, though, or else you will experience a delay.

• Have all required paperwork gathered in one location and ready to go. This includes important documents like pay stubs and proof of other income sources, W-2’s, tax returns for the previous two years and all bank statements. The settlement process is often delayed due to waiting for all necessary paperwork and information be submitted; this inevitably lengthens the time it takes for loan packages to be completed, and ultimately time to close.

• Request a home appraisal as soon as possible. This is contingent upon getting all required documentation for your loan application submitted as quickly as possible. Once this occurs, your loan officer can initiate the appraisal request.

• Stay in constant communication with your representative. Remain active in the communication process by frequently checking in with your agent. It’s also crucial to reply to inquiries about your loan as soon as possible, providing a quick response to phone calls, letters, emails and requests for additional information.

• Be available to sign the Closing Disclosure (CD) form 3 days prior to settlement. Be aware, this document is submitted via email and signed electronically. The longer you wait to sign, the more time accrues until that closing day. Keep a close watch on your email account so that this step can be completed as early as possible.

Linear Title & Escrow has been providing settlement services to the Greater Hampton Roads area for the past 10 years. We take great pride in providing a streamlined, efficient and highly professional closing experience, and look forward to serving the needs of our community for many years to come. Learn more about how to expedite your closing process by contacting our friendly, experienced team today at 757.340.0340.