The first and primary reason is it reduces the amount of money buyers need to bring to the table in order to close. When you purchase a Spring Texas home there are numerous closing costs and prepaids associated with your real estate transaction.
One of the these costs is interest on the loan. Your lender charges you interest on the loan from the day of closing to the end of the month in which the closing occurs. The closer the day of closing is to the end of the month, the fewer days of interest you have to pay.
The second reason for the popularity of end of month closings is because the majority of apartment leases terminate at the end of the month. Buyers want to limit the amount of time they are paying for two places.
Jill --- It was fun to work with you (and I'm not always a pushover!). You... read moreJill --- It was fun to work with you (and I'm not always a pushover!). You helped coach K & I, in getting the house ready. You made great showing// staging suggestions that came out as "helpful". Of course, getting us an offer within a couple of weeks (that turned into a sale), ALSO made me appreciate you☺! You guided us through the sales paperwork, and kept me calm through the "unique" closing.Thanks read less