Andrew And Associates

Six Steps to Complete After You’ve Signed
the Purchase Contract

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Now that you’ve signed the purchase contract and you’re looking forward to moving into your new home, what do I need to do? There are a few steps you need to take to insure the move into your new home goes as smooth as possible.

First, get a home inspected.  Set up a time to do a detailed home inspection. This should be done within a couple of days after signing the contract. A professional home inspector will accompany you to inspect the home. He will point out the repairs the home needs or the discrepancies that may exist between the current status of the home and the seller disclosure document. The seller will be informed of the problems and will normally agree to make the necessary repairs. A home inspection put you in a much stronger negotiating position prior to closing your home purchase.

Meet with your mortgage lender. If you have not already pre-qualified for a loan, take the following financial statements with you: W-2 forms or signed tax records for the past two years; copies of your recent two or three months bank statements; copies of your current pay stubs (or proof of income if self-employed). If there has not been an appraisal on the home, be prepared to pay an appraisal fee. An appraisal is required before the loan is finalized.

With the help of your real estate agent, select a title company. Once you have a title company, provide them the necessary paperwork. The purpose of the title company is to insure that the transaction is legal and that you have an unencumbered title to the property you’re purchasing. They will do the title work, review the survey, prepare mortgage documents and all prepare all the papers needed for closing. After the settlement, they will prepare all the papers for your mortgage lenders, accounting and title insurance, life documents and release escrow.

You must provide proof of home insurance. Before you can finalize your loan, you have the right to choose a company to insure your home. If you need assistance, your real estate agent can refer you to a reputable company. Remember, you have the right to choose your home insurance company. Take the time to find someone you feel you can trust and work with.

Get your certified funds for settlement. The title company will tell you a few days prior to closing the exact amount of money due a closing. Many people bring a certified check to closing.

Do a final walk through of the home before signing at closing. Take a copy of your home inspection with you. Not any discrepancies that have not been completed. Take your time and do a detailed inspection. This is your last opportunity to clarify any problems or concerns you have on your new purchase. You want your transition to be as easy and stress-free as possible. After you’ve completed the walk through, transfer the utilities into your name.

Choose your agent wisely.  Working with a full-time real estate agent is a must. Ask questions of your agent.  Find out how knowledgeable he or she is about houses currently for sale in your price range and also of houses that have recently sold.  Can your agent recommend a good lender that has the reputation of excellent customer service and low rates?  Does your agent ask questions of you to have a full understanding of what you are looking for to help you get the most home for the money?

Do you have questions or need advice you can count on or just want to discuss this further?

Don’t waste any more time; pick up the phone and call me now!  I’m here to help!

I offer a five star guarantee. I appreciate your business, loyalty, trust and referrals. My goal is to provide the very best counsel and advice to meet your real estate needs. If I can assist you, a relative, friend or co-worker, please give me a call. I look forward to the opportunity to serve you.

For prompt, courteous, professional service, call Larry Andrew: