Purchasing a home is such a wonderfully and exciting experience. From viewing all sorts of potential homes to keying in on “the one” is a journey many homeowners will always remember. Once your offer has been accepted on your dream home, you anxiously await the closing day so that you can grab the keys and get busy moving into your new home.
In order for your home closing to run smoothly, it is a good idea to understand what to expect and be prepared. You don’t want to run into any obstacles or headaches the day you want to celebrate your new home ownership. Here are some great tips for you to consider as your closing day approaches:
Stay in contact with your real estate agent
It’s important to take your questions to your real estate agent, as he or she will be able to let you know more about what your requirements will be at closing. If you have any questions for your bank lender, go ahead and contact him or her as well. You want to be informed of the process of your home closing so that you will be doing your part.
Review the closing documents
There is a good deal of paperwork involved in purchasing a home, so don’t wait until the last minute to review the closing documents. You want to get in touch with your realtor, title agency, lawyer, and anyone else associated with your purchase a few days before closing. Ask them if you can review the closing documents that they have.
Check on any repairs or contingencies
If you have repairs that need to be completed by closing, be sure to get with your realtor and check to make sure they are done. If you neglect this, you may end up having to delay closing to give the seller more time to make the required repairs.
Check on the appraisal
You want to be sure that the appraisal report for the correct amount came in and that it was sent to your loan company so that they can approve your loan.
Be sure you have your funds
Make sure that you have transferred the money that you need at closing to your checking account and be sure that you bring the certified or personal check with you to closing.
Schedule a walk-through
Be sure that a walk-through is scheduled so that you can view the property before you take ownership. Do your best to do this a couple of days before closing in case a problem arises. This way there will be time to take care of the issue.
Be sure to contact the utility companies to transfer service into your name the day you take ownership of the house. Most utility companies require a few days to schedule such a transition, so call the week before your closing date is scheduled.
Get homeowners insurance
Do some research on homeowners insurance and secure sufficient insurance for your new home. It is important to insure your home in the case of fire or a natural disaster.
Do your best to prepare for closing day by following these tips. Sometimes unexpected things occur when it comes to closing, but if you and your realtor do your part, things are much more likely to run smoothly