THERE'S SO MUCH TO REMEMBER BEFORE I CLOSE - WHAT SO I HAVE TO DO?
There's so much to remember before I close. What do I have to do?
- Your agent can help you with many of these items:
- Are all the necessary inspections complete?
- Are all the required repairs complete?
- When will you conduct your final walk-through inspection?
- Have you confirmed a date, time, and place for your closing?
- Who will conduct the closing?
- Is your insurance policy paid and ready to go into effect the day you close? You'll need a receipt for proof.
- What form of check should you use (and who should it be made out to) to pay for the closing costs?
- Has your closing agent told you the closing cost total?
- Do you have receipts for the items you have already paid for, including your deposit and inspection fees?
- Bring your checkbook to cover any last minute extras that might have been overlooked.
What should I look for on my final walk-through?
In most cases, you'll be given the opportunity to inspect the home immediately prior to closing. At this time, it's important to check on any work the seller agreed to have done in response to your initial inspection. You should also carefully check the condition of walls and ceilings from which window treatments, pictures, or any other attached furnishings have been removed. If you find any problems, don't hesitate to bring them up at the closing. It's the seller's responsibility to correct them.
What will happen at closing?
- The lender's agent will ask for your paid home insurance policy.
- The agent will list the adjustments. These include the money you owe the seller (the remainder of the down payment, prepaid taxes) and what the seller owes you (unpaid taxes, prepaid rent).
- You will sign the deed of trust. This gives the lender legal rights to the property if you don't make your payments.
- You will sign the note, the promise to repay the loan in regular monthly payments.
- You will get title from the seller in the form of a signed deed.
- The lender's agent will collect the closing costs from you and give you a settlement statement of all the items you have paid for.
- The deed and note will be recorded in the town or county Registry of Deeds.
Is there anything I should do immediately after closing?
The first thing you may want to do is have the locks changed. Also, put your deed and other important paperwork from the closing in a secure place, preferably a safe deposit box. Even though it's all on file with the county, it's smart to know where your copies are and have access to them at all times.
Should I move myself or use a moving company?
In almost every case, you can save yourself time and energy by using a reputable moving company to help you move.
Ask your agent, friends, and co-workers for recommendations, and then get estimates from several companies. Don't choose a mover based on price alone -- consider the reputation and professionalism of the company, too.
Work closely with the moving company to coordinate your efforts and your move will be achieved with maximum efficiency.