Making the Journey to Your Dream Home Involves a Lot of Details
Here are some of the keys to provide for a smooth closing. First off, we have to ensure all the contract conditions get satisfied on or before their deadlines as specified in your Purchase & Sale Agreements including the:
- Inspections (keep a photocopy or picture of every check written)
- Earnest money deposits (one or two maybe required, mark your calendar)
- Interest rate lock? Or float? Ask your lender for advice
Other considerations or conditions of receiving a mortgage often include:
- Home warranty plan
- Mortgage lender insurance ( famously called PMI-private mortgage insurance)
- Home Insurance (get multiple quotes, consider bundling with your car)
- In some states, a mortgage credit certificate can be earned to reduce your overall annual carrying costs. For example, in NH, in certain counties, up to homes up to certain price, and families with modest incomes can receive this benefit through local state financing agencies ,,, e.g. NHHFA.org check it out.
Planning, Planning, firm up the following:
- Moving Dates, read your rental contract carefully
- Walk Through Date on new house
- Funds Needed for Closing, make sure if you take gifted money from friends and family that is properly documented, talk to your lender
- Finalize time and place for closing
- Read CD’s (closing documents carefully, seek advice from your lender, lawyer, title company or Realtor if you have concerns). Documents and timing must follow TRID guidelines, it’s the law lenders must adhere to
The Really Good Stuff:
- Receiving the Keys once settlement papers are signed
- New deed is then recorded.
- You’re a Home Owner! YEAH!!!
- It’s time for your move and then
- Your first open house.
To ensure your move goes smoothly consider this helpful check-list:
- Contract with a reputable moving company
- Arrange to have school records transferred
- If you moving some distance; move financial, medical, dental and other important records
- Keep track of moving expenses, some maybe deductible, if this is a long distance move
- Change of Mail address cards to the post office,
- Notify credit cards companies, and others delivering subscriptions
- Transfer utilities to new home
- Order Internet, phone or other connectivity services
- Transfer car licenses and driver licenses
- Store all your papers and especially the deed in a safe spot, you may need many of them for tax filing purposes the following year