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.
A terrific realtor, the best I've seen. She is friendly, energetic, professional and committed to getting the job done.... read moreA terrific realtor, the best I've seen. She is friendly, energetic, professional and committed to getting the job done. She took a home that wasn't moving, made a few improvements with little money, re-listed it and had a contract within a week that recouped the cost of improvements with interest. She attended to every detail going above and beyond the call of any realtor that I have experienced. I am happy to recommend Jill Wente as a realtor without reservation. read less