You’ve found the new home of your dreams and you’re ready to close! Before you go to closing, plan ahead so that you’re better prepared. To ensure that the process goes as smoothly as possible, below are some things to think about beforehand:
Decide how you want the tenancy to be listed on your new home.
Did you know that your decision could affect your tax return? The following options are available, consider what is best for you:
- Tenants by the Entirety
- Tenants in Common
- Joint Tenants
- Sole Owner
Consider how your closing date will affect the amount of money you will need at closing.
The difference can be in the thousands! Timing does matter.
Is Owner’s Title Insurance right for you?
You’ll need to decide prior to closing if you want to purchase it.
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