The Biggest Discount Day For Closing A Home Sale
b'With Terry Story, 25-year Veteran Real Estate Agent with Coldwell Banker in Boca Raton, FL
Would you believe it, they say the best day to choose when closing a home sale is October 8 to get the biggest discount on that day\\u2026 now, really??!! Well, there doesn\\u2019t seem to be much logic to it but that\\u2019s what the data points to, and they also have these dates city by city \\u2013 but don\\u2019t buy too much into it. \\xa0However, as far as minimizing pesky costs on closing a home, something to consider.
Apparently, a lot of buyers want to close their home purchases on either the 15th or the 30th of the month, so there\\u2019s a fair amount of backlog and it\\u2019s crowded. So, as Terry advises, avoid shooting for those dates and pick a closing date that\\u2019s either in the first two weeks or after the middle of the month. She also advises against Friday closings because delays in paperwork move things to Monday and having that weekend gap can disrupt the closing process. As she puts it, delays on Friday can get really ugly.
Terry also says mortgage loans can now be had for as low as a 3% down payment. But 20% is a nice number because below that level of down payment you have to take out extra insurance and that\\u2019s an unnecessary expense if you can avoid it. But look at the trend, if prices are rising, consider getting in early even with a lower down payment.'