Steps Before Closing
Remember These Steps Before Closing On A Home!
Don’t Jeopardize Your Loan – Taking out another loan, purchasing an automobile, making a large credit card purchase or even applying for another credit card prior to closing can jeopardize your Loan Commitment. A second credit check will be run just before closing so don’t do anything that would raise a red flag .
Arrange for a Mover – Get several WRITTEN estimates from movers specific to your required service. Do this several weeks before you close and by all means, CHECK THEIR REFERENCES.
Notify Services and Utility Companies – Be sure to get all utilities lined up for service including electricity, gas, water and telephone. Also notify the post office, insurance companies, movers, newspapers, magazine subscriptions, etc. several weeks prior to moving out of your current home. And don’t forget to change over mailing and billing addresses to your creditors.
Final Walk-Through – ALWAYS do a final walk-through prior to closing on your new property. This is best done the day of closing if at all possible, to make sure the property you are about to acquire is still in the condition you expect it to be in. Check not only the obvious, but also the plumbing and electrical systems and all appliances. Test outlets with a radio or testing device, turn on light switches and check water faucets and toilets. Make sure any agreed repairs and cleaning have been completed to your satisfaction and that all items as stated in the Purchase Agreement are there. Once you close, you are purchasing the property “as is/where is”. This is also true for any trash or furniture left on the property (check the attic and garage). Once you close, the property and everything in it becomes yours. If it is unwanted, it becomes your problem.
Closing Costs – Check with your Escrow Officer, Lender or Realtor about money due from you to be brought to Closing. The amount may not be available until 24-hours prior to your appointment. These funds must be in the form of a Certified Check or Wire Transfer. If you will be using a Wire Transfer, call the title company for wiring instructions when you set the appointment. And by all means, BRING YOUR PHOTO ID such as your CURRENT Drivers License or Passport.
Buyer’s Remorse – It is common for Buyers AND SELLERS to feel stressed or remorseful during and after the sale and purchase of a home. Educating yourself about the process can help to minimize this often painful feeling.