After searching and finding your dream home, the last thing you want is for something to go wrong during the closing process. That’s why it’s so important to have a real estate agent by your side when buying or selling a property because they can streamline the process and make it easier for you to avoid any potential issues. However, if something does go wrong, one thing is certain - they'll know how to best handle those complications so that there are as few hiccups on the closing day (or week) as possible. Here are some tips for avoiding common problems during the closing period:

1. Read as much paperwork in advance as possible.

It may be the last thing on your mind, but this is one task you'll want to take care of ASAP!

Last-minute delays at real estate closings are often caused by problems with documents and we can tell you from experience that looking into every detail beforehand will give you ample time for questions or clarification during the closing day (or any other confusing moments). It’s essential that you understand every detail in your contracts, so get ahead by thoroughly inspecting all emails sent with related information. You may consider saving these into a specially created folder or inbox instead of being lost with multiple other emails.

This will help you make notes, ask questions, or address any misunderstandings in advance. Reviewing the paperwork before you sign can save time and money on closing day as you won’t have to take the time to review the documents while everyone is sitting and watching. Taking those extra minutes beforehand will pay off later.

2. Make sure your name is consistent throughout the documentation.

Check that you're consistently named throughout the documentation- don't use aliases or nicknames as these are not allowed in real estate transactions. You'll need to provide a government ID at closing, and if your name doesn’t match what's on paper then there can be problems with closing your house.

If the names don’t match, you’ll have to get a new ID that matches what is on the documentation or you’ll have to redo the paperwork to match the name on the ID. This issue could arise if you’re recently married or divorced and failed to update your driver’s license with the name change. Double-check that your state-issued ID has your current name and also, check the spelling of your name. Be sure to always share your full legal name with the lender, real estate agent, and title officer when carrying out the deal so they can also keep an eye out for any discrepancies.

3. Always keep relevant parties informed.

When buying or selling a home, it's important to keep all of the people involved in your deal informed. This doesn’t just involve the buyer and the seller, but also other relevant parties—the buyer’s agent, the seller’s agent, the lender, the real estate attorney, and sometimes even an accountant.

Your real estate agent and the lender will be able to help you avoid any delays at closing if they know about any changes that may happen before then--whether someone has changed jobs, been furloughed from work or a last-minute repair is needed. The paperwork should reflect any of these deals, meaning that all parties should be in the know to protect you and avoid delays at closing.

4. Verify banking information and payment requirements.

This may be an obvious one but it’s very important - make sure that all the information you need for your closing costs is correct before wiring money. Verify the payment requirements as well as the transfer information. In addition to the down payment that you have to pay at closing, you will have to be prepared for other closing costs so verifying the information as well as the amount needed for closing costs is essential. The attorney will provide you with the exact amount required and how it should be paid, such as by wiring the funds in advance of the appointment.

If the attorney is requesting a wire transfer, call them or your real estate agent first to verify the wiring instructions to prevent any issues with your payment not making it to the right place. Doing so will help you be vigilant and guarantee that the person contacting you about the transfer is the verified person.

5. Don't hesitate to ask questions before and during closing.

If there are any words or terms you don't understand? Just ask. You might be feeling a bit overwhelmed as closing day approaches. No matter if it’s your first or third time buying a home, it’s hard to avoid those nerves. To alleviate some of the anxiety, you can call your agent and ask them to walk you through the transaction. During this time you can clear any doubts and ask any questions that may have been bugging you. Another tip is to prepare an answer list of possible scenarios in case anything happens after all this paperwork has been signed by both parties. While many things could go wrong, your real estate agent is there to help and make sure everything goes smoothly for your transition into homeownership.