There are a number of details that must be addressed between the signing of the final contract and the closing date. They include:
Immediately Upon Acceptance of the Final Contract:
Order a home inspection
Order a Termite Clearance Letter (although no longer required, still recommended)
Determine if you would like a radon inspection and order it from the home inspector
Provide your lender with a copy of the contract and discuss locking in your interest rate (Remember: You will usually have five days from the date of the contract to apply for the mortgage loan, which is why it’s important to be pre-approved before you start looking for a home)
During the Home Inspection:
Take any measurements for furniture, window treatments, appliances, etc. that you may need
Take any photos of the house, if desired
Ask the home inspector any questions you may have concerning the home’s condition or construction
One to Two weeks Following the Acceptance Date of the Final Contract:
Have your agent create a list of items, noted by the home inspector, that you request the seller to remedy
Reserve a moving truck or schedule a moving service
Schedule the closing date with the attorney
Notify lender to order appraisal
Two Weeks Before Closing Date
Contact insurance company to set up homeowner’s policy to be in effect day of closing
Call lender and inquire if additional information is needed
Get a change of address package from the post office and begin notification process
One Week Before Closing:
Make contact with lender to ensure that closing date is on schedule
Get directions to closing attorney’s office (Your agent will usually provide this information)
Schedule utility transfers
Request certified funds for closing (some funds take three days to clear – for stocks, home equity loans, etc.)
Order a survey if desired
Three Days Before Closing:
Ask closing attorney for a HUD 1 Settlement Agreement
Verify that repair items in the inspection amendment have been addressed
Consider purchasing title insurance and discuss the benefits with your real estate agent
Request all copies of the paperwork from the closing attorney if you plan to read each one in detail, since there will not be time to read over everything at the closing itself
Day Before Closing:
Conduct a walk-through to verify the condition of the house is the same as when placed under contract
Be sure to double-check that inspection items have been addressed
Review updated Termite Clearance Letter
Get certified funds for closing
Review the HUD 1 Settlement Agreement to verify that the terms of the contract are correct
Day of Closing:
Bring photo ID
Bring certified funds
Bring copy of insurance policy
Bring any additional documents requested by the lender
No comments:
Post a Comment