Friday, December 08, 2006
Don't risk Your Loan
Taking out a an additional loan, buying a car, or making large credit card charges before you close could risk your loan commitment. Lenders run a second credit check previous to closing to check for new charges.
Time to Close
Closing at the start of a month, the lender would need you to "prepay" the interest on your loan from the day of closing to the end of the month. Therefore the cash you need to close would be more than if you close at the ending of the month. Talk with your lender about this.
Buyers Remorse
It's general for buyers to feel stressed or remorseful during and after the purchase of a home, educating you about the buying process would assist reduce "buyer's remorse".
You would probably forget it soon after you move into your new home.
Notify Services & Utilities
Don't forget to get in touch with services such as: post office, insurance, movers, telephone, utilities, newspaper, etc. a few weeks preceding to you moving out to "change over" billing/mailing addresses.
See "local directory" of phone numbers of such services.
Arrange for Mover
Get a couple of written estimates from movers on the services they give for the costs of your move. Check the home Yellow Pages and search directory to get quotes and contacts.
Final Walk Through
Do a final walk through as close to the sign off as possible.
Check appliances for operability. Test outlets with a radio or test device. Turn on light switches. Check water faucets and toilets.
Make sure promised cleaning and maintenance have been completed.
Check that all items incorporated in the purchase of the home (review contract) are present.
For new building, write down what needs to be finished or fixed, have builder sign. Include the date when these items would be completed.
Closing Costs
You would have to have your closing cost "monies" deposited in escrow before you could close. Don't bring in a personal check to pay. Money must be in the form of a certified check or a money wire transfer. Check with your escrow officer.
