Real Estate Agent
We’re past all of the inspections, your loan has been approved and now you’re ready to be a homeowner. You’re almost there! Hold on just one more minute though, there are a few final steps before you can officially move into your new home.
1. Utilities and Service Providers
Before settlement, it’s important that you set up all the utilities to transfer into your name, usually on the day of closing. Your Realtor can provide you with guidance and a list of companies you’ll need to contact.
2. Final Walk-through
Usually on the day of closing, or the evening before, you and your Realtor will make a final walk-through of the property to make sure any negotiated repairs are done, everything is still working and that nothing has substantially changed since the home inspection. If any issues arise, we’ll work together to negotiate and resolve those issues with the sellers prior to closing.
3. Closing Escrow (Settlement)
Prior to settlement, the Title Company will provide you with a closing statement that lays out all of your closing costs, any credits, the loan amount and any additional financial items involved in the transaction. Your Realtor – and our closing managers – will go through this statement to double check for accuracy and confirm that nothing has been overlooked.
Once we’ve confirmed the settlement statement is correct, you’ll need to make sure that any necessary closing funds are delivered to the title company. The easiest way is to wire funds directly to the Title Company, but a certified check at closing is also an option. Your Realtor and settlement agent will help you coordinate sending your closing funds.
The settlement statement looks good, you’ve transferred your down payment and closing costs, and your loan has been funded. You’re ready for settlement! The settlement agent at the Title Company will walk you through all of the loan documentation, the deed of trust and all of the other final details of your purchase that you’ll need to sign. This process usually takes about an hour, but once you’re done you’ll get the keys, the title company will record the deed at the courthouse and then it’s official – you’re a new homeowner. Congratulations!
This buyers’ roadmap might seem like a lot of info, and a little overwhelming, but it’s meant to help give you a general direction on what to expect as you start your home buying journey. Luckily, you don’t need to know it all! Our highly trained, experienced buyer specialists would be thrilled to chat with you to learn more about your goals and to see how we can best assist as you get started.
Whether you’re ready to buy a home now, or you’re just starting to think about it, reach out to our team so we can help make the process easier and help you find your dream home!