Buyers’ Steps to Insure a Good Closing

After the buyer of property signs a contract to purchase a home there are numerous tasks that must be completed prior to closing.  Most of these tasks will not be completed by the buyer, but it is a good idea for the buyer to be aware of these tasks.   At the time of signing the contract, buyer should have received a Good Faith Estimate from his and/or her lender.  This Document states the estimated closing cost, prepaid cost, loan amount, interest rate, amount the buyer needs to bring to the closing table, and amount of monthly payments.   Immediately, your real estate agent will receipt your contract with a title company, which means, the contract and earnest money has been given to the title company.  Normally, at this point the title company will provide the buyer, seller and lender a copy of the receipted contract.   Then the work begins, inspection and insurance quote on the home should completed.  Both of these tasks, the buyer needs be involved, reviewing the inspection results with your agent and getting a homeowners insurance quote.   After these tasks are completed, normally the following tasks will be completed by title and/or lender: survey, appraisal, title search, title insurance and preparation of the final closing statement.    After the above steps have been completed, you are ready for closing, be sure to bring a certified check or money order to closing for the amount specified on your final closing statement.