Five Things You Should Do After You Sign
the Purchase Contract

Once you’ve signed the contract to purchase your new home, don’t get lazy. There are still many things you need to do before the sale is final. If you do a little work, your transition to your new home will go as smooth as possible. Here are five things you should definitely do.

1- Request a Home Inspection

You should take the time to thoroughly inspect your home. Don’t get too rushed. Test out the faucets and sinks. Look for items that may need some repair. “Open your eyes and take off the blinders!”

Once you’ve carefully inspected the home, request a professional home inspection. You have looked at things that are externally visible. A professional home inspector will look at these items as well as many items that are not readily visible. When the inspection is complete, you need to review the final report with him. It will give you the details of the current condition of the home. You should note any differences between this professional report and the seller disclosure report. If there are items that need to be repaired, this gives you a much stronger negotiating position with the seller.

2- Find a Reliable and Competitive Mortgage Lender

Ask you real estate agent to recommend a good mortgage lender. If you have not already pre-qualified for a loan, do that immediately. Be prepared to provide your W-2 forms and tax records for at least two to three years. In addition to this, take your bank statements and pay stubs for the last quarter. This will help prove your history of employment. If an appraisal has not been done lately, be prepared to pay for one. It is required in order to obtain financing.

3- Select a Good Title Company

Your real estate agent can help you select a good title company. The title company will check all the past records on the home to insure you are buying a property that is free and clear of problems. You want the largest purchase of your life to be legal and right. The title company will provide the title work for closing. To do this, they will review the surveys, records and documents associated with purchasing your new home. They will also provide the paperwork required by your lender. This includes accounting and title insurance, life documents and release escrow.

4- Get Home Insurance

You must get proof of home insurance to finalize your home loan. Ask you real estate agent to recommend two or three reputable insurance companies. Then, take the time to talk with each and compare their prices and services. Don’t forget, you have the right to choose who will be your insurance company. Find a trustworthy and reliable company.

5- Get a Certified Check for Closing

A few days before you are to purchase your home, the title company will give you the amount of money you must bring to closing. This is normally done in the form of a certified check. You may either bring it to closing or give it to the title company prior to closing.

6- Double Check the Home before Signing the Contract

You should do a final inspection of your home prior to closing. Take a copy of your home inspection with you. Also take any written agreements between you and the seller. Take time to carefully check out each item on your list. Do a detailed inspection. This is your final chance to clarify and discuss any concerns you may have with the home. If you take a little time at this point it will make your transition into your new home go much smoother. You’ll have less stress and more confidence in your buying decision. After you’ve completed you final inspection, transfer the utilities into your name.