You’ve decided to buy a house, found the one you love, and the seller has accepted your offer. Congratulations! But the deal isn’t over yet. There are still some things that have to be done before you finally get the keys to your new abode.
So, what exactly do you do from the time your offer is firm to the time of closing? Here is a checklist of things that need to happen before you can start moving your belongings into your new home.
1. Take out an insurance policy
You will need to have your home insured once you take possession, but you should start making a phone call to an insurance agency now to take out a policy. Most lenders won’t grant mortgages to buyers unless they are certain that the home can be insured. Your lender might even contact your insurance agency prior to closing to verify whether or not the policy exists and what type of coverage you opted for.
2. Schedule a Pre-Closing Visit
Just before closing, you should take a final walk-through around the home to make sure it’s in the same condition as when you agreed to buy it. You’ll also want to make sure that all items that are included in the offer still remain with the property.
3. Call Your Utility and Cable Companies
You’ll want to have cable, telephone and internet service when you move in, so be sure to call your provider to arrange to have service installed on closing. While you’re at it, call your utility companies to have the service changed to your name (unless the seller has already done so). In addition, you will want to verify the meter reading so that you’re only responsible for paying for your fair share of the utility charges after you move in.
4. Visit Your Lawyer
Once all conditions have been met and monies have been collected and distributed appropriately, it’s time to visit your lawyer and sign some closing documents. You will be picking up your keys on closing day at your lawyer’s office.
5. Final Thoughts
There are a few tasks that you’ll need to take care of as a buyer in a real estate transaction. And while they can seem daunting, you can streamline the process by partnering up with a seasoned real estate team – the Kevin Yu Team!