5 Brilliant Tips For a Stress-Free Home Closing
Purchasing a new home is filled with anticipation and excitement. It can also be a time of tremendous worry and stress. On the one hand, you are setting off on a new adventure. On the other, you are about to embark on a major life change and there may be a number of unknowns that you have not quite dealt with yet.
The closing is perhaps the most worrisome part of the transaction. The best approach to the situation is to plan it as thoroughly as you can. Here are 5 tips to help you get through the process with as little stress as possible:
Timing
Timing is the essential thing in closing. You want to establish a fixed date — a date that you can mark on your calendar — for when it scheduled to happen. You will need this so that you can coordinate the end of your lease or give the person who is buying your home a move-in date. Once you have set the date, you must do follow-up. You would like to trust that everyone is doing their part to move things along, but this is not always the case. You need to ensure that all parties involved are advancing toward the agreed upon date.
Insurance
You will need insurance on your new home. If you have already owned a home, then you know the many deals that are available. The first thing you want to check is whether the location of your new home is in an area in which floods, hurricanes, tornadoes, wild fires, and other natural disasters occur regularly. After you have done that, you want to compare the rates offered by the various insurance companies. Once you have selected the one you think best, make sure you can arrange to have the coverage start on the day you close.
Final Walkthrough
Once you close, the house is yours. Many people mistakenly believe they can lodge complaints or take some legal action that will force the previous owner to make some correction or fix some problem. This is not the case. It is up to you to do a final walkthrough before the closing date. It is the only way to ensure the house in the condition it was when you made your offer. You should use the time to test all major appliances and other systems. If you do find any discrepancies, you will be able to ask the owner to fix them.
Know The Final Cost
This may seem quite simple, but it is not. You should know the fees and closing costs before you show up to make the final payment for the house. In most instances, this can be done through check or bank transfer. In the latter case, you want to ensure there is ample time to actually carry out the transaction.
Celebrate!
A closing is a major milestone in your life. You deserve to recognize it with a bit of joy and celebration with family and friends.
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