8 Point Checklist to Closing on a Property in Charlottesville Virginia. How to make the process go smoothly, by Fulton Gaylord, Charlottesville Virginia Real Estate Expert

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Real Estate Agent with Keller Williams Realty

8 Point Checklist to Closing on a Property in Charlottesville Virginia. How to make the process go smoothly, by Fulton Gaylord, Charlottesville Virginia Real Estate Expert

The closing process is the last step to purchasing or selling a home. The process can often be intimidating because of how much legal paperwork there is involved. In this article Iíll walk you through the process so that the closing process will go much smoother for you.

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1)    Homeownerís Insurance

Hazard Insurance is always necessary to get the mortgage. Remember to get homeowner's insurance and bring proof to closing.

2)    Gather All Your Paperwork

Make sure you have all your paperwork in place the day before closing. Review all your paperwork to make sure that everything is in order.

3)    Have Your Inspections Completed

Have the property inspections completed when you come to escrow. If there are any repairs that are necessary, make sure they're in writing.

4)    Have Title Insurance

It's important to get title insurance for your home purchase. Title insurance insures that the title on your property is clean.
There are two (2) types of title insurance: Owner's and Lender's, but that's a topic for another blog! Suffice it to say that if the Lender requires you get it to cover THEIR interests, it's probably a good idea for you to buy it to cover yours. And luckily, it's a one-time cost and covers you for defects on the title, now, and into the future.

5)    Get Final Approval of Mortgage

At this point, your mortgage should be approved so that you can get your loan to pay for your new property.

6)    Bring Your Cashier's Check

The amount necessary for closing the on the property should always be on a cashier's check.

7)    Clear All Contingencies

At this point, all contingencies and clauses should be cleared so that you can go ahead with the transfer of the deed.

8)    Understand Your Closing Costs

Before closing, it's important to have a good idea of what your closing costs are. It's also important to know who will pay the closing costs. Unless otherwise stated, usually the buyer pays the closing costs.

Following these tips should make the whole closing process go much smoother for you. Remember to talk to your real estate agent and your loan officer about the closing process, as they've both been through the process many times.

There is a lot of free information available to you about buying, selling or investing in the Charlottesville Virginia real estate market. For complete information about the Charlottesville Virginia real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything in the Charlottesville Virginia real estate marketat.  Feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell or email me.

Sponsored By: the Charlottesville Virginia real estate market

Posted by

Fulton Gaylord-Associate Broker, ABR, SRES, e-Pro
Certified REO Specialist, Registered HUD Agent
Keller Williams Realty
3510 Remson Ct., Ste 301 Charlottesville, VA. 22901
Fulton@kw.com
434-220-2228

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Rainmaker
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David Popoff
DMK Real Estate - Darien, CT
RealtorĀ®,SRS, Green ~ Fairfield County, Ct

Nice checklist on all you need, great advice thanks.

Nov 28, 2012 11:19 PM #1
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Rainmaker
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Fulton Gaylord

1st-Time Home Buyer Realtor - Charlottesville, VA
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