You have finally found the home of your dreams and the closing date is approaching. We all want this day to be as stress free as possible and by doing a little homework in advance, you will set yourself up for smooth sailing as you sign your name on the dotted lines.
1. Set a closing date
Your real estate agent will work with the seller’s agent and title company to schedule your closing date. Be sure it meshes with the end of your lease or the sale of your existing home and a time when you’ll able to play hooky from work.
2. Have your funds in order
You may be required to bring funds to the closing if you have closing costs and a down-payment. If they’re not easily accessible, arrange early to transfer them to a liquid account to avoid last-minute problems. If the title company requires the funds in the form of a cashier’s check, also leave time to stop by the bank and pick one up.
3. Line up homeowners insurance
Get quotes and compare policies to be sure coverage will be in effect by your closing date. If you live in an area where natural disasters occur, like earthquakes, floods, or hurricanes, you’ll need separate insurance to protect your home. Check with the company your car insurance is with, sometimes they will give a discount for bundling your home and auto insurance.
4. Schedule a final walk through
Schedule an appointment to walk through the home one last time just before your closing. Make sure repairs you requested have been made, no major changes have occurred since you last viewed the property, and that the sellers left anything they agreed to leave and took all their belongings. Use this time to test all major appliances and systems in the home to make sure they are still working properly. Walk the yard to be sure no plants or shrubs have been removed.
5. Plan out moving day
Chances are you will be moving on closing day or shortly thereafter. Plan out ahead of time how moving day will look. If you will need movers, call to schedule a date and time for them to show up. Don't forget about making any necessary arrangements for internet access and cable at your new home. Make sure to have a plan if you are moving with pets- this article has some helpful tips!
