Step 6 of overcoming the Mid-20's crisis: Contract to close.

So here we are. We have found the house you want to buy, we have put in an offer on it, and because of my expert negotiating skills, we have received the best deal possible. You're happy, the sellers are happy, the other agent is happy, and I am just warming up. Where as it may seem like we're in the clear, we are not. Do you remember all those little contingencies we talked about while writing the contract? Good. Now we have to go through the process of removing each one of them.

First, being the fact that we are in the Northern Virginia area, odds are that we will end up living in either a condo or an area with a home owners association. What does this mean to you? Get ready for the most boring reading of your life. The sellers will provide you with a book that will remind you of War & Peace when you look at it, but reads like a user manual for...well, anything, because, come on, who reads those things? It's one of the most god awful boring things that you will ever read. I hate to tell you this, but I have to, you need to read this booklet. If you're having trouble sleeping, I recommend checking this sleep aid out, it might be better than Unisom. The reason you have to read this 400 page snoozer is because you only have three days to decide whether or not you want to buy your house based on the information in this book. Now, I have never seen a deal fall apart from this, but for your protection, you should read. And if by chance you REALLY, REALLY, REALLY want to paint your front door purple with green polka dots, there will probably be some rule in there stating that you are not allowed to do that, and if so we probably want to find somewhere else for you to live.

Now that you've gotten that joyous event out of the way, we have the Home Inspection to look forward too. This is actually a fun event in which an inspector, who is working for you, will rip your soon to new home to shreds by finding every little thing wrong with the house. Then you get to pay him for it. Good times, right? The inspector will give you a booklet of all the things that need to be repaired on the house and from this booklet we will pick the major items that need to be repaired and tell the other side that we would really, really appreciate it if they would pay for it. Then they will look at our list and say, "Ok, we will fix the hole in the roof, we will fix the leak in the faucet, but the shelving in the closet you will have to level off yourself!!!" Which is all we wanted them to do anyway. So, to this I will pump my fist in victory, a la Kirk Gibson, because that is what I do when I win one for my friends and clients, because remember, you are all friends first, clients second. (Did I over do the cheese on that? I'm thinking I just found my slogan.)

These are the two biggest contingencies that we will have to deal with. There are a few more that we may have issues with, like rent backs, if the owners need to live there for a few days after settlement. Or, they may have to find their Home Of Choice. This means that they have to go out and do all the same things that you just did. Usually, they can get it all done by the settlement date that you and I have so cunningly chosen so that you have time to move all your stuff out of that rental you've been living in with plenty of time. It's hard to predict what other contingencies might come up, but as they do I'll be ducking, diving, dodging to make sure that things continue to progress and that none of the bullets that come from the contract to close gun come close to killing our deal. Occasionally bad things happen, but that's when we forge on, fighting through the blisteringly cold gales of wind that cause us to start over. But we will persevere, and we will find a way to get you into that house of your dreams, or we will find you a better one.

Then comes the day we've been waiting for. Settlement day. You have woken early, showered, had your hearty breakfast and a few cups of coffee, and now you are WIRED. The excitement is just spilling out from your pores. You and I meet at the house for your FINAL WALK THROUGH. This is where we walk through the house to make sure that everything in the house is in the same condition as it was the day we wrote the contract. We also want to make sure that they did everything that was on the Home Inspection addendum, and that there were no burns/stains/holes in the carpet or on the walls that were being covered by furniture. After we walk through the house and you've now decided where all your furniture will go, we will scurry across town to the settlement company and we will sit with the sellers and there agent and a lawyer or two around a HUGE usually wooden table and begin to sign. If it's been a while since you've used your hand for writing get ready for the cramps. You will hate your signature by the end of this day. After all the papers are signed, all the "t's" are crossed and lower case "j's" have been dotted, we will hand you the keys and you will be the proud new owner of your home. Nothing left now but the handshakes and the moving.

Now you know about that wonderful time between contract and settlement, and knowing is half the battle. Remember knowledge is power, and I have armed you with the power to get through the home buying process with very little problems.

As always look over the rest of my site here, and please let me know what you think. You can IM me on AIM at KWRMATT or you can email me at MrWright79@KW.com. Or if you want to hear the sultry voice of genius you can call me at 703-393-1336 between the hours of 0900 and 1900 EST.