Increasing rates aren’t the only thing that can cause a hiccup in your deal.
I’ve seen what I call a few “Closing Curveballs” that have put a wrench in a few deals. 👇🏽
✔️Closing Curveball #1: Make Sure You Complete a Property Crime Search
Crime can impact your closing in today’s market significantly. 😵
When you're in an environment where rules and guidelines are tightening, lenders will completely pass over a deal that involves crime.
✔️Closing Curveball #2: Have A Plan B
Investors should make sure they have enough equity ready to deploy because in this rapidly changing environment, you could get to one or two weeks before closing and the lender says we're going to have to cut your proceeds. 🤯
So, if you have a broker - be sure to ask or create with them a plan B to bypass a closing curveball!