By the Kent Redding Group
One of the most common questions that people have when buying a home, especially in Austin Texas, is if they can change their closing date, and the answer to this question is yes.
It’s not uncommon for some home buyers to change their closing dates especially if they want to speed up or slow down their closing.
In this article, we will provide you with information on how to effectively change your closing date and what to expect from making this decision.
How Do You Change the Closing Date on Your Austin TX Home?
Let’s say that you want to change the closing date on your Austin Texas home for sale, the first thing you need to do is check the closing date to see If it’s open to negotiation because some closing dates are “set in stone” and cannot be changed.
In a typical Real Estate contract, the closing date will specify if it will happen before or after a certain date unless both the buyer and seller mutually agree to change the closing date.
Besides the seller agreeing on the new closing date it’s also important for everyone else involved in the Real Estate transaction to agree on the new closing date too including your Realtor®, attorney, mortgage banker, surveyor, and title company.
What If You Can’t Agree on A New Closing Date?
Unfortunately, it’s quite possible that you may not be able to agree on a new closing date for your Austin Home for Sale and in this case, the buyer may have a right to cancel the contract.
Worse yet, you could also be penalized by your bank for changing the closing date so it’s important to keep this in mind too because your bank may make you pay a rate lock extension if your interest rates have been locked in so it’s best to analyze the entire situation and use wisdom if you do decide to change your closing date.
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Planning on searching for a new home in Austin Texas? If so, contact the Kent Redding Group today by calling us at (512) 306-1001 or click here to connect with us online.