Be Careful About Your Closing Date

According to one real estate expert the worst day of the year to buy a home is the last Friday in May. You may wonder just how someone could come up with a certain day and name it the worst. I can tell you that after many years in any business, you start to see patterns.

After years in the business this real estate professional has seen how closings scheduled near Memorial Day end up being pushed back. Most people are not available for work. Even those that are have their minds elsewhere. Also, a delayed closing date could have an effect on your interest rate. If you have a locked-in rate for a certain time period, you do not want it to expire.

This expert feels that April is prime time for pending home sales. This makes for a larger number of closings in May. Real estate professionals feel extra pressure at this time of year because their workload is heavier.

Since the Memorial Day holiday has already past for this year, it is not a problem. Still, this is definitely something to think about. Overall, you should consider making sure that your closing date does not fall around any major holiday or three-day weekend. You want a complete and mindful staff working on your behalf.