These points may appear unrelated, but there is an important connection between them.
For buyers with pending contracts, therefore, the closer that early-September closing date gets, the fewer industry folks that will be working to help close on your new house.
The same goes for households in the middle of a refinance.
With less than 4 weeks until Labor Day, you can take steps today to prepare for other people’s time off. Here’s a few of them:
And, perhaps most important, fulfill your mortgage lender’s requests for additional supporting documentation within 24 hours of notice. This includes requests for updated paystubs, bank statements, and tax returns.
The best reason to handle these tasks in advance is that, by the time Labor Day is around the corner, basic mortgage approval tasks will already take longer to complete — from clearing conditions to sending a wire. Reduced staff means slower response times.
Stay ahead of the curve and help save yourself from potential headaches down the road. And, if possible, avoid closing on the Friday before Labor Day and the Tuesday after.
On these days, staffs are the most lean of all.