A.D. Cantelmo Property Management
Our Business is Property Management in Orange County California
Does the day of the week matter when closing?
I was reading an interesting article about why the most popular days to
close on a mortgage are Fridays and at the end of the month. In the article they
were trying to come up with all kinds of reasons for this behavior. The Friday
close seems to be an easy one. Most people want the weekend to move, but so often
sellers are given a couple of days to move out of the home, so closing on a Friday
may not help them in this situation. The closing at the end of the month may
have to do with the perception that you pay less interest if you close at the
end of the month. This is really not the case.
I think the reasons are simple. First Friday is a natural day to finish
something. It is instilled in us from the time we are children to finish our
work on Friday, so not to have things left over for us when we come back from a
weekend. We want to start fresh on Monday. Friday is just a good day to close a loan and
even though you may not be able to move right into your home, the weekend does
give you time to organize things and get everything ready. Friday’s are just
good days.
The end of the month is also a very natural time to close a loan. Since
you are buying a new home, you want to start everything fresh. You are starting
a new life with your new home, so starting fresh in a new month is just a
natural fit.
They can do all kinds of studies of why people do the things that they
do, but most of the time it really comes down to how we are raised in society.
Closing a loan is no different, we are comfortable doing the things that we
have been doing since the time we are children.
A.D. Cantelmo Property Management Specializes in Property
Management in Orange County Ca.