Real Estate Blog - Five things Buyers forget to do for settlement inspite of being informed about it

Home : Blogs : GITA BANTWAL, REALTOR BUCKS COUNTY, PA HOMES : Philadelphia, Bucks and Montgomery Counties Real Estate. Tips for home buyers, home sellers by Gita Bantwal,Realtor at ReMax Centre Realtors.

Five things Buyers forget to do for settlement inspite of being informed about it

Most agents explain things to the buyer at the time of agreement of sale and then after inspections they just wait for mortgage commitment.

It is important to remain in touch with the buyers to make sure every thing is going on smoothly.

We should also try to get a preliminary Hud1 so that they have an idea how much to bring to settlement.

Some of the things buyers forget to do are

1. To bring the funds in certified funds. They thinka personal check is acceptable and then have to go to the bank on day of settlement.

2.To bring picture ID. If one person is driving then there are occasions when the other person says they have left the driver's license in their car.

3.To call to transfer utilities. Some sellers have it shut off as of date of settlement and if it is the weekend buyers may have to wait.

4.Home owner's insurance. Mortgage companies ask for proof in advance sometimes but some do not. If it is a cash deal no one asks for it.

5 Do a final walk through on day of settlement and bring the home inspection addendum to see if the sellers did all the repairs they agreed to do.

If you are looking to buy a home call Gita Bantwal at ReMax Centre Realtors 2153438200x124

Call me for a Free Home Buyers handbook.

Posted by GITA BANTWAL, REALTOR BUCKS COUNTY, PA HOMES on 06/27/2009 06:11 AM

Comments (22)

Tips for Home Buyers in the Home Buying Channel

tips for home buyers

Originally posted at: Philadelphia, Bucks and Montgomery Counties Real Estate. Tips for home buyers, home sellers by Gita Bantwal,Realtor at ReMax Centre Realtors.: Five things Buyers forget to do for settlement inspite of being informed about it

This post has been included in Pennsylvania Information
Post is included in group: ABR-Accredited Buyer Representatives
Post is included in group: Posts to Localism
Post is included in group: Local Expert

22 Comments on Five things Buyers forget to do for settlement inspite of being informed about it

JUN

I see this all the time too. Well not ALL the time but these do come up.

How about the listing agent removing the lockbox before the final walk- through and then they have to rush out and put it on.

Have been caught more than once on that photo ID!

have a nice weekend

your friend in Charlottesville Virginia!

Great points, and I see this too alot. I had a buyer bring a personal check and he was part of a small bank, about1 hour away....what a long closing that was~

Gita--I have only had one client show up to closing without an ID. He had changed clothes just before heading to closing...made his kids dig it out of the dirty laundry in the packed up car. Moving day can be very hectic! :)

JUN

Missy, Yes I remember it happening once and we had to wait for the agent to come and meet us.

Charles, Looks like If we have been in the business long enough it probably happens to all of us at some point.

Kristin, I am glad it was within driving distance.

Teri, Some of these incidents can be on Reality TV.

Nice reminders Gita! We have one investor who forgets his ID every time we go to settlement!

I wish Gita I could get all my clients to remember all these topics. I have them on a check list. Sometimes they just bring the checklist...

JUN

Erica, It may be a good idea for you to keep a copy in the office.

Paul, It happens because after inspections we do not see them till settlement and they are busy planning the move.

JUN

So true Gita. Sell 'em and leave 'em mentality. We agree, take hold of their hand and make sure everything is in order to Close! Don't forget to ask for referrals along the way! LOL

Gita,

Excellent information. I had a clients wife show up without ID. Because her name was not on the house, she figured that she didn't need it. Wrong! She was legally married and needed her ID. Thanks for sharing this information with our community.

Have a great day

Make This YOUR Best Year Ever

Leander

JUL

Al and Peggy, Thanks for the reminder.

Leander, Glad she came to settlement even though she did not have the ID. I went to a settlement where the EX had left the country.

Gita - A simple yet vital list. The proverbial devil is in the details, and your list can save a lot of heartache on closing day.

JUL

Jim, Thank you. Have a good weekend.

JUL

Gita, Good reminders for everyone. A few more come to mind...POA, termite, roof certs,death certs, and repair receipts to finalize home inspection.

JUL

Margaret, Thanks for the reminder.

JUL

Oh the Utilities...I have at least one buyer a year that forgets to turn the water on in their name!

JUL

On #5, don't be afraid to ask your home inspector to do a re-inspection. He might charge, but it's important that if there were roof repairs that someone look at them. In some cases, I've found that damage was caused to something else by the repair person. For example, we have a lot of side-by-side furnace/water heater installations, and often the furnace/water heater gets damaged by the water heater/furnace repair person.

Tina, Thank you .

Russel, Good idea.

JUL

Gita, This is a terrific reminder list. All of these items are so important. Its amazing how we can inform and remind our clients about these types of things and then sometimes they still forget.

Vicki, thank you.

NOV

Love the post, great reminder for all of us. I sometimes forget to tell people about the utilities ...........

NOV

Kathy, Thank you. I give them a check list at time of agreement of sale and then remind them later.

This blog does not allow anonymous comments