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How To Prepare for Closing

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By : Vicki Hat    99 or more times read
When you buy a house, the whole process would come to an end when the closing day arrives. At this time, all parties to the transaction would have to make certain preparations in order to ensure a smooth closing process.

Part of the preparation is to be aware when the date and time of closing is. Knowing this by heart will allow you to make preparations ahead of time. There is also a need for you to know how much money you need to settle the fees that you owe. You also have to review all the documents that you need to present for that day.

There are other preparations that need to be done. One of which is ensuring that the house is sold according to what was agreed. Yes, you may have been sold a property on an as is condition. However, certain contingencies are being mentioned on the contract to ensure that you are paying for the property for what it’s worth.

An inspection would help you protect your interest as a buyer. Several inspections need to be done. The first one would be the home inspection to be done by a hired professional. However, this shouldn't be enough. Even after the deficiencies have been pointed out and fixed, it is still very important to keep all components of the house in good condition. That is why a final walk-through is highly suggested. This is usually done 24 or 48 hours before the closing day. Doing so allows you to demand for fix-ups before things get settled.

Before the closing day is set, certain services are needed for the sale to close. For one, you need to seek the services of the insurance company. This is highly required by the lender. You may also have to get a title insurance. Even if you have obtained a title search, this will still be required to free the lender of any liens that are brought about by the defects on the title. A homeowner's warranty may also be one of the services that you should have. This will be your protection from the expensive repairs brought about by the defects of the house. This is usually packaged in older homes being sold.

When all of the requirements for closing have been secured, you may also want to take care of other things that are related to your moving in process. After the settlement has been done, everything would be a breeze. You can move in to your new home as planned. But having a working a home with physical structure in working condition isn't enough. You got to have working utilities too and you may also want to have those utilities transferred to your name. Hence, before the closing day arrives, these matters should be taken care of.

You also have to take care of the moving process. Don't wait for the last minute to make the moving plans. It needs to be booked ahead of time or else, you may end up having problems looking for a service. And you may end up delaying the move until the next best available service comes up.

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