What To Do During The Latter Part Of Home Buying Process
Congratulations! You are just few steps away of closing the deal for the very beautiful Elmhurst Real Estate property that you picked. Imagine, you are now done with the stages of viewing multiple Elmhurst Homes for Sale in a single day, evaluating them and scrutinizing every little detail and flaw you find in the house. You are also past the negotiation stage of real estate investment, making petty debates with the seller and trying to finalize the agreement. You have come a long way and now that you are very near the finish line, it is only right that you continue following the steps properly. For the finishing details, here are the things you should do.
Home Inspection
Days or months before the deal closure, you should be able to hire an inspector who will check the house for its condition and problems. This is important so you can give ample time to seller to make any necessary repairs to the house. Make sure to look at pest and termites infestations during the home inspection day. In addition, other important house features that need to be inspected are the electrical, plumbing and water system, the roof, the walls and the general foundation of the property. The inspector should also cover during his or her inspection the air condition and heating system of the house as well as the appliances that is included in the house when you buy it.
Mortgage
Before the closure day, you should have already followed up the check for your approved mortgage application. It should be ready for the closure of the deal. The Escrow Agent, Title Company and the Closing Lawyer should have copies each of documents and the check for your loan before the closing day.
Warranties
Before or during the closing day, you should be able to get copies of the warranties or instruction manuals of appliances and systems of the property. Request the seller for its copies days before the closing day so he or she can have time gathering and completing all of them.
Home Repair
Before the closing day, make sure that the seller had already performed all the repairs that need to be done as part of your agreement. If there are incomplete repairs, it can be included in the Settlement Statement as a credit of the seller to the buyer.
Settlement Statement
Read the settlement statement and review it together with your real estate agent. Ask every little detail that you do not understand and make sure that you give further attention to things such as the amount paid from borrowers funds. In the settlement statement, as the buyer, you are also referred to as he borrower because you are borrowing the mortgage amount.
Utility Companies
You should also go to each utility company such as water, telephone, electricity and others and let them know of your move-in date so they can make all the necessary arrangements for their services to you.
Home Inspection
Days or months before the deal closure, you should be able to hire an inspector who will check the house for its condition and problems. This is important so you can give ample time to seller to make any necessary repairs to the house. Make sure to look at pest and termites infestations during the home inspection day. In addition, other important house features that need to be inspected are the electrical, plumbing and water system, the roof, the walls and the general foundation of the property. The inspector should also cover during his or her inspection the air condition and heating system of the house as well as the appliances that is included in the house when you buy it.
Mortgage
Before the closure day, you should have already followed up the check for your approved mortgage application. It should be ready for the closure of the deal. The Escrow Agent, Title Company and the Closing Lawyer should have copies each of documents and the check for your loan before the closing day.
Warranties
Before or during the closing day, you should be able to get copies of the warranties or instruction manuals of appliances and systems of the property. Request the seller for its copies days before the closing day so he or she can have time gathering and completing all of them.
Home Repair
Before the closing day, make sure that the seller had already performed all the repairs that need to be done as part of your agreement. If there are incomplete repairs, it can be included in the Settlement Statement as a credit of the seller to the buyer.
Settlement Statement
Read the settlement statement and review it together with your real estate agent. Ask every little detail that you do not understand and make sure that you give further attention to things such as the amount paid from borrowers funds. In the settlement statement, as the buyer, you are also referred to as he borrower because you are borrowing the mortgage amount.
Utility Companies
You should also go to each utility company such as water, telephone, electricity and others and let them know of your move-in date so they can make all the necessary arrangements for their services to you.
