Home Buying in New London>Question Details

Roberta Murp…, Real Estate Pro in San Diego, CA

Is there a best time of month to close on a home in New London, Connecticut?

Asked by Roberta Murphy CRS, GRI, San Diego, CA Sat May 19, 2007

This is a buyer's question!

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Answers

2
I personally like any time in the second half of the month. The reason s that at closing, you are prepaying interest for the remainder of the month and your first mortgage payment will not be due until the first of the following month. This gives buyers a good "relief valve" after getting through the purchase, moving, etc. If you close on the 10th, for example, you will have a payment due in 3 weeks.

In the end, it doesn't really matter what time of the month, as we prorate expenses such as taxes on a daily basis. If you wait too close to the end of the month, you'll be stressed out with all of the stuff going on with the attorneys involved. Try to avoid the last day.
Web Reference: http://www.ilmct.com
1 vote Thank Flag Link Wed Mar 26, 2008
Eastern CT uses attorneys rather than title companies to close on property. Many buyers think it is better to close on the last day of the month, but to get the best service, it makes sense to avoid the end of the month closing crunch.
1 vote Thank Flag Link Fri May 25, 2007
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