As a buyer, the process of purchasing a home can be overwhelming. Between finding the right property, securing financing, and negotiating with the seller, it can feel like the work is never done. However, once you reach the contract-to-close phase, the end is finally in sight. To help you navigate this final stage of the home buying process, we’ve prepared a comprehensive checklist of everything you need to do before closing day.
1. Inspect the property
The first thing you need to do after signing a contract is to have the property inspected. This will give you a complete picture of the home’s condition and allow you to negotiate repairs or request a credit for any issues that are found.
2. Secure homeowner’s insurance
Before closing on your new home, you need to secure homeowner’s insurance. This will protect you in the event of any damage or loss to your property.
3. Review the closing disclosure
The closing disclosure outlines all the fees and costs associated with your home purchase. Make sure you review this document carefully to ensure that all the information is correct and that there are no surprises on closing day.
4. Conduct a final walk-through
A final walk-through is your chance to make sure that the property is in the condition that you agreed upon and that any repairs or changes requested have been made.
5. Wire funds
Once everything is in order, you’ll need to wire the funds to close the transaction. Make sure that you have all the necessary information, including the account number and routing number.
6. Sign closing documents
Finally, it’s time to sign all the necessary documents to complete the purchase. This includes the mortgage note, the deed, and any other documents required by your lender.
By following this checklist, you can ensure that you’re prepared for the contract-to-close phase of your home purchase. This will help you avoid any last-minute surprises or delays and ensure that you’re able to move into your new home with confidence.