The property should be in the condition that’s specified in your sales contract. You may inspect for any changes made subsequent to the home or pest inspections. Check if everything is in order and if any additional replacements are necessary. If there’s an issue, the closing day could be shifted, or, upon agreement, the repair costs will be submitted to the escrow account. Don’t skip this step because missing the final walkthrough is one of the reasons for closure delays and you want to check on repairs.
#10. Get Ready for Your Closing Day
Now you have run the escrow marathon and survived all the possible obstacles in your way. It’s finally time to sign the papers and get the keys to your new home. Prepare all the paperwork that you’ve collected during the process. This includes the title search and insurance, inspection reports, bank statements, home appraisal, checks of down payment closing costs, and prepaid interest. Several people could be present at the closing, e.g., your attorney, a seller or seller’s representative, seller’s attorney, real estate agents (both yours and seller’s), lender’s representative, a title company’s representative, and title company closing agent. The exact number and function depends on the state and county. In some states, it’s as few as the buyer(s) and the closing agent, with all documents pre-executed by the other parties. Basically, the purpose of the meeting is to sign the following documents: • Closing Disclosure (CD). e (CD).This document contains your final payments, costs, and charges upon agreed terms and
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