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.
If you want a top tier Realtor, call Jill Wente. Jill showed us every house we asked her to... read moreIf you want a top tier Realtor, call Jill Wente. Jill showed us every house we asked her to show, day or night, never any objection, not once. She is extremely knowledgeable on Texas real estate law, rules, regulations, MUD, taxes, etc. She offered her opinions when asked, always honest and candid. Jill is the best. You will be very happy in the end. read less