To Do List When Buying A Home

Now that the Inspection & Appraisal are complete - What is the Next Step?

 

The exciting part of purchasing a home is finding the Home of your Dreams and getting excited about all the bells & whistles in this new home.    The inspection is scheduled and completed, the appraisal is done and value has come in right on track --- now what?

 

There is a flurry of activity in the first couple of weeks once you get your property under contract.    After you have reviewed HOA documents, appraisal and inspection are complete, there will be a lull in activity.   This is the time the lender is compiling all your information and getting your loan into underwriting.     This can take two or more weeks and a buyer can sit back and relax, or better yet --- start packing!     It is a good time to schedule a moving truck (or moving company) and get contractors (if needed) scheduled for days following the closing.

Whatever you do, if you are obtaining a loan, PLEASE DO NOT put furniture, appliances or any purchases on credit during this time.     The lender will do another credit check right before closing, and you surely do not want to lose your home this close to closing!

You may want to schedule a locksmith to meet you at the property on the day of possession to change locks on a resale home.   You never know how many neighbors, relatives or friends to the seller  have a key to this home.    Always better to be safe than sorry!

The week before closing is a great time to call the utility companies (electric and gas) and have the utilities transferred into your name day of possession.     In Colorado, in most cases, the title company will transfer the water for you.   This is the only utility that runs with the property.     The title company will escrow enough money from the seller for the water bill, so it does not create a lien on the property.     If the property is in a covenant community, trash will be included in the HOA fees.     Call the Internet/TV companies of your choice, and either transfer service or set up a new account.

Either the day before or the day of closing will be your final walk through.    This is the time you can inspect the issues that were found on inspection, and be sure they are corrected to your satisfaction.      This is also the time you walk through and be sure the seller did not damage the property while they were moving, or if it was vacant, that nothing happened before closing.

Here in Colorado, we close at the title company office, buyers receive keys at the closing, and at the end of the closing after funding --- the home is yours!   

 

Congratulations!

 

 

 

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Metro Brokers - House to Home, Inc.

GRI, ABR, CRS, CNE, e-Pro  

Joan@JoanCox.com

    Denver Real Estate

    A Denver Metropolitan Realtor