First-time buyers pushing to make the deadline to qualify for the tax credit have a lot at stake. They should take advantage of technological advances in the closing process to save time and money just as they are using the Internet to expedite the search phase of buying a new home
San Diego (PRWEB) September 10, 2009
With just three months remaining until the first-time home buyers tax credit expires, buyers looking to close before the November 30 deadline could use some tips from the experts to reduce the 40 to 60 days it currently takes most transactions to close. Here are some ideas from Closing.com, the most comprehensive source for real estate closing services on the Web.
Learn about the closing process and save time and money. Homebuyers spend two to seven percent of the cost of their home on closing costs. Most are not clear about what closing costs include, who they are hiring, how much they are spending or why. Closing.com's Learning Zone contains an extensive interactive library and information about real estate closing services that help demystify the process. Consumers can find how-to advice from experts and tips on how to save money as they get ready to close their transaction. In the ClosingTalk forum, consumers can ask questions and get answers from real estate experts on such topics as closing on foreclosures, working with appraisers when refinancing, and reducing closing costs on investment properties.
Get an accurate estimate of all your closing costs up front. You don't have to wait until a buyer accepts an offer to know what your closing costs will be. Today you can get a head start on the closing process by estimating your closing costs and evaluating local providers for required and optional closing services. The ClosingWizard uses a sophisticated system that determines which services, based on the location of the property and the nature of the transaction, are required to complete the transaction and instructs the company's dynamic rate engines to assemble a custom closing estimate for fees and services. The estimate is presented in the traditional HUD-1 settlement statement format that shows detailed closing fees as well as monthly payments including mortgage, home insurance and property tax payments.
Find vendors who will meet your deadline. Inspectors, title companies and appraisers in your market may be booked as the tax credit deadline approaches. Shop early for the real estate closing services you will need and find providers who will meet your deadline. Consumers and real estate professionals can choose from a database of some 140,000 companies providing real estate services in eleven categories ranging from title insurance and settlement services to home and pest inspections on Closing.com. At a glance, consumers can see a provider's rates and fees, office locations, credentials, services, and other information. Users can find, compare and contact providers directly through the site.
"First-time buyers pushing to make the deadline to qualify for the tax credit have a lot at stake. They should take advantage of technological advances in the closing process to save time and money just as they are using the Internet to expedite the search phase of buying a new home," said Anthony Farwell, CEO of ClosingCorp.
ClosingCorp, an independent real estate information services company based in La Jolla, CA, owns and operates Closing.com, the most comprehensive source for real estate closing services on the Web. The site empowers consumers and real estate professionals to shop, compare and evaluate real estate closing services in their area. Visitors to Closing.com can estimate their closing costs, learn more about a real estate provider's products, services and rates and make inquiries online.