Often people can get very nervous when their real estate purchase is about to close. In order to alleviate some of the butterflies it can be helpful to accomplish a few tasks prior to closing.
1. Contact your realtor, attorney and lender to verify everything is in order.
2. Review all loan documents and the purchase contract. Discuss any issues with the attorney.
3. Contact the utility companies (electric, telephone, cable, water/sewer, gas) to have the service changed to your account.
4. Purchase homeowners (hazard) insurance. If you are obtaining a loan the lender will typically require that one year of homeowners insurance be prepaid prior to the closing.
5. Due a final walkthorugh of the property to make certain that everything the seller agreed to accomplish prior to closing has been completed and per the contract that nothing has changed or been removed.
6. If you are required to bring additional funds to the closing, obtain a certified check from your bank for the exact amount required (your attorney will inform you of this amount within a day or so of the closing). These funds will typically be deposited in your attorneys Clients Funds account along with your mortgage funds obtained from the lender.
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LLC
Posted by: lucas law center | June 25, 2009 at 02:03 AM
I agree people get confused of real estate closing , these steps seems informative implementing purchase contract and agreement .
Posted by: Free and Clear | October 22, 2009 at 07:18 AM