Before Closing On A Home

by: Cecilia Sherrard

Final Walk Through

Do a final walk through as close to the Title Transfer as possible. Check appliances, test outlets with a radio or test device, turn on light switches, Check water faucets and toilets. Make sure any promised cleaning and repairs have been completed. Check that all items included in the purchase agreement are present.

Notify Services & Utilities

Don’t forget to contact services such as: post office, insurance, movers, telephone, utilities, newspaper, etc. a few weeks prior to you moving out to “change over” billing/mailing addresses. You can contact me for a list of local numbers.

Closing Costs

You will have to have your closing cost “monies” deposited in escrow before you can close. Don’t bring in a personal check to pay. Money should be in the form of a certified check or a money wire transfer. Check with your escrow officer.

Don’t Jeopardize Your Loan

Taking out another loan, buying a car, or making large credit card charges before you close can jeopardize your loan commitment. Lenders run a second credit check prior to closing to check for new charges.

Arrange for Mover

Get a couple of written estimates from movers on the services they provide for the costs of your move. Get quotes and contacts a few weeks before close.

Buyers Remorse

It’s common for buyers to feel stressed or remorseful during and after the purchase of a home. Educating yourself about the buying process will help minimize “buyers remorse”. You will probably forget it soon after you move into your new home.

Time to Close

Closing at the beginning of a month, the lender will require you to “prepay” the interest on your loan from the day of closing to the end of the month. Therefore the cash you need to close will be more than if you close at the end of the month. Talk with your lender about this. If purchasing a multi-family home, rents will be prorated.

About The Author

Copyright 2006 Cecilia Sherrard.

Cecilia Sherrard is a top producing REALTOR with Realty One Real Living Cleveland Ohio. She has helped many buyers and sellers relocate and find their perfect home. You can find many useful tips and information on her site