Home Selling in 08540>Question Details

Peter Thambi…, Home Seller in Forest Hills, KY

What is the best day of the week for closing?

Asked by Peter Thambidurai, Forest Hills, KY Sat May 11, 2013

Help the community by answering this question:

Answers

14
I always say as soon as possible.
1 vote Thank Flag Link Sat May 11, 2013
Friday. Most buyers like to have the weekend to get settled in their new residence.
Flag Tue Jan 7, 2014
Interesting question....I'm not as certain of the best day of the week to close but there are days that I would recommend avoiding...every Friday and the last day of the month. Obviously, the problem with Friday is that if things don't work out, the closing cannot occur the following day and will have to be delayed until the following Monday.

The difficulty with the last day of the month is that many contracts, for whatever reason, are written to close on the last business day of the month. This can be problematic because of the potential for an excessive number of closing scheduled for the same time.

Another point worth noting is that if you are financing, it's always wise to schedule your closing date a few days in advance of the termination of your guaranteed loan interest rate. By scheduling the closing on the final date, you are taking a great risk of losing an good interest rate because of not being able to close on the specified date.

Hope this is helpful,

Bill
1 vote Thank Flag Link Sat May 11, 2013
Thank you very much.
Flag Sat May 11, 2013
Thank you very much.
Flag Sat May 11, 2013
If money is an issue then you should consider a closing date near the end of the month. You will have to pay less in prepaid interest that way! Otherwise, schedule it whenever it is convenient for you. Thanks.
0 votes Thank Flag Link Sat Jul 19, 2014
Depends on the buyer / seller / situation.
0 votes Thank Flag Link Tue Jul 8, 2014
The busiest days for closing are Monday and Fridays, therefore choose Tuesday, Wednesday or Thursday.
0 votes Thank Flag Link Tue Jul 8, 2014
I agree with Bill..... try to avoid Friday closings, if something does happen and you are not able to close, the wait until Monday can seem like an eternity!
0 votes Thank Flag Link Tue Jul 8, 2014
I would say close when the transaction is ready for that step. More important is when you decide to close during the month.
0 votes Thank Flag Link Mon Jul 7, 2014
First half of the week. If anything happens you do not have to wait for a weekend to remedy the problem
0 votes Thank Flag Link Mon Jul 7, 2014
It seems Tues-Thurs may be the best days. For some reason, it seems our clients are either out of town or heading back from out of town on Mondays and Fridays.
0 votes Thank Flag Link Mon Jul 7, 2014
Good question. Never the first or last day of the month and avoid a Monday morning or Friday afternoon closing. Tuesdays, Wednesdays, and Thursday are usually best unless they fall before or after a national holiday.

That said, a closing, anytime, is always a good thing, but lender's packages can take longer to be sent out and money wires longer to arrive, so it's sort of like trying to avoid rush hour traffic.
0 votes Thank Flag Link Sat May 11, 2013
I not sure that the day of the week is as important as the day within the month.
Many people opt to close on the last calendar day of the month making it very hectic for lenders and attorneys.
0 votes Thank Flag Link Sat May 11, 2013
Agree, stay away from Mondays and last day of the month, most especially the quarter end.
0 votes Thank Flag Link Sat May 11, 2013
I always prefer Tuesday, Wednesday and Thursday. Usually Mondays are hectic and if you try to close on a Friday and you hit a snag and you can't rectify it that day then you are bumped to the next week.
0 votes Thank Flag Link Sat May 11, 2013
I know that the lenders like the last day of the month - easier to figure escrow. However, I agree with Bill.
0 votes Thank Flag Link Sat May 11, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer