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As far as closing goes, is it best to close ASAP being something may go wrong? Or, does it matter if you wait longer? We would like to close the second week in June being that is when my son gets out of school. Is that too far away? We will sign the contract tomorrow.
Closing is an agreed part of the contract, and should be safe, but check the advise of your agent. Most sellers want their deal done, but all depends on what they wish also.
Assuming you are the seller, the longer you wait to close the more chances something could go wrong. Unless the buyer also wants a closing as far out as you do I would suggest against it in this economy/market. The buyer's financial situation might change, their loan approval might get rescinded, etc., etc. Sure, these things could happen even if you allowed only thirty days to close but the risk is much less. Also, if something does go wrong and you end up not closing then your house will be off of the market for almost three months.
I the seller. One option I may have is to rent back. I did that with my last house while the new one was being built. I just was trying to avoid spending more money, but I guess it's better that losing the deal.
You're best to close asap. Changes could happen in their financing, they can't lock their rate that long without it costing additional funds, someone could lose a job, get sick, whatever. Close it. If you can lease it back great, if you can't.. rent month to month somewhere until your son gets out of school.
Don't mess around with it, just close it up.
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