Attend the Walk-Through As a homebuyer, you have a right to inspect the property one more time before closing. If your home inspection revealed problems that the sellers had agreed to fix, you’ll want to make sure those repairs were made. Do not increase the credit limits on your cards. If you're getting a loan, one of the best ways to prepare is to thoroughly review your closing disclosure, also known as a HUD-1 settlement statement. That includes making a down payment on a car, boat, or similar large purchase that has to be financed. Between the negotiations, the mortgage paperwork, the home inspections, and the number crunching (and recrunching), it’s easy to get bogged down by the weightiness of it all. Nobody else cares as much about the closing as you do, and you may have to live with their mistakes for decades. Don't Neglect These 6 Maintenance Tasks—or Else, Debunked! If we had not seen the documents a day or two before, the errors would have delayed the closing by at least a day. If the previous owners already had a security system and you want to continue the service, you’ll still need to call the company and have the account switched over — and you’ll probably have to spring for new sensors, motion detectors, and a keypad. Book the movers. From changing the locks to turning on utilities, here's a list of things to do immediately after closing. You’ll want to hop on that to-do list as soon as possible to wrap up any lingering … 1. Anything that was promised to you in the purchase agreement no longer applies after the settlement is complete. The closing occurs between four and six weeks after you’ve signed a purchase and sale agreement on one magical day. A screaming child or a wandering dog. Turn off shut-off valves to sinks, toilets, dishwashers, the water heater, refrigerator and washing machine. Share your tips in the comments below! Here are 8 things to do before closing on a house: Get your New Mortgage Ready. ©1995-2020 National Association of REALTORS® and Move, Inc. All rights reserved.realtor.com® is the official site of the National Association of REALTORS® and is operated by Move, Inc., a subsidiary of News Corp. Daniel Bortz has written for the New York Times, Washington Post, Money magazine, Consumer Reports, Entrepreneur magazine, and more. 17 things to know about closing your house deal Closing day in a house deal is a milestone for both the seller and the buyer. Good GCs are the unicorns of the home-repair world; don’t spend months after move-in trying to find that single reliable contractor. Once you have that closing date in hand, nail down movers ASAP. Being a homeowner is an amazing feeling and as you can see, there are things to do, even after closing. Also, don’t let other bank accounts fall behind. This one comes with a HUGE caveat: Generally speaking, you should institute a spending freeze during the escrow period. Get references from friends, make your calls, look up previous work online, and if possible, try to get general time and money estimates based on the photos and dimensions of your future home. As the seller, your biggest priority during the week before closing is to get the home ready for the new owner. Turn off all switches for lights and fans. As the home buyer of this piece of real estate, you’re entitled to choose the title company. https://www.maxrealestateexposure.com/what-not-do-before-buying-home If you’re changing addresses during a busy moving month (e.g., June or September), the choice companies tend to book up quickly; if you’re planning on doing the transport yourself, you still need to book a rental truck and any additional equipment. Search and obtain title insurance done, you should institute a spending freeze during escrow. 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