We all make mistakes. It’s how we deal with mistakes when they happen that’s important. If you forget to put the check in the mail, that’s a mistake but the corrective action isn’t to wait until next month for the subsequent bill but to fix the mistake by mailing the check right away. In real estate, there is plentyclosing on the last day of the month of room for mistakes because there are simply so many moving parts, third parties and deadlines the entire process is ripe for error.

Even the best of the best can have a slipup along the way. But what do you do if you’re at your closing and there’s something wrong that must be fixed before you’re willing to sign. What if there’s something wrong that the lender needs to get fixed regardless whether or not the error is corrected. You need to close today and forget the mistake, let’s just sign the papers and get on with it, right?

You’re at the settlement table and instead of the property address reading “Drive” instead of “Court” that’s easy enough to fix. The lender is notified, the correction is made and the new papers are sent electronically right back to the settlement table. The attorney handling the closing isn’t allowed to simply “line through” the error and handwrite the correction.

Making the correction doesn’t take very much time at all on the lender’s side. After all, it’s just changing one little word, right? But what if your loan isn’t the only one closing today—on the very last day of the month? Then the lender is as busy as can possibly be. If you could peek behind the lender’s curtains and watch the closing department review signed closing documents, sign off on conditions and resend papers, well, maybe there are some things you just shouldn’t see. Depending upon the volume, it is like spinning plates times ten. It may not take long to make the correction but it very well may take some time simply getting to the file to make it.

Don’t put yourself in this position. Understand that closings may not always be perfect. Don’t schedule a closing on the last day of the month. Give yourself some room for error.