Coming to an agreement with a seller can seem like the end of the road. You signed with a buyer’s agent, you trekked around to homes that was too old, too big, exceeded expectations. You navigated through two counteroffers.
Now, the time comes to prepare for home ownership. There is a lot that needs to be done, but here are a couple big things that need to be
The first thing to do is realize that everything is on a deadline.
In order to make it to the closing date that was agreed upon, there is a checklist of bit and small tasks that need to be done.
Make sure that you have time available that you can meet with your real estate agent in case papers need to be drawn up or signed. You always want to have enough time to look over the paperwork and ask all questions you have.
If you have opted to have a home inspection contingency, schedule it ASAP. Go over the report in detail. Understand the severity of any and all findings. Negotiate any major defects that needs to be negotiated ASAP. There is a deadline (key word again!) to which you can negotiate the home inspection findings. You want to give yourself enough time to iron all wrinkles out.
Meet with your lender.
Unless you are paying for cash, there is a financing deadline. Get the process started and the earlier you meet, the better. They might need pay stubs or other paperwork that takes time to find or request. You don’t want to push things off to the last minute.
Start researching home insurance.
Some lenders need proof of insurance up front. It is a good decision to start shopping around and getting quotes.
Make moving arrangements.
Whether you are moving out of your rented apartment or across states, objects need to be moved. Start thinking about packing up the clothes that aren’t being worn/aren’t in season. Any items that can be packed ahead of time makes the process easier. It might be a good time to call a moving company and reserve a truck or start bribing friends and family with pizza in exchange for their muscles.
Also factor in the time it will take to clean the apartment in order to get your security deposit back.
There certainly are many more tasks that need to be done than what is listed above, however, those are a few of the big ones.
If you have any questions about the process, contact us!