You’ve found the house of your dreams and your contract has been accepted! Once the excitement starts to wear off, questions start running through your mind. What happens next? Are we missing anything? Chantel Ray Real Estate will help walk you through the steps from contract to closing!
Once you have a ratified contract, your agent will sit down with you and go over all of the deadlines that will be coming up. If you elected to have inspections done on the house, these will need to be done in accordance to the timelines on the contract. Make sure all of your inspections are schedule early enough so you will have time to review them and request any repairs you may need.
After your inspections have been completed, the appraisal will be order by the lender. This will insure that the home is worth what you are agreeing to pay for it and that is also conforms to that loans guidelines. Sometimes, depending on the type of loan, there will be lender required repairs. These will need to be scheduled to be completed and re-inspected before the property is cleared to close.
Throughout the closing process, your lender will ask you for documents needed to satisfy loan requirements. Make sure that you get them to them as soon as possible so you don’t hold up the closing process. Once you get close to the closing date, you will set your appointment with your settlement agent and get ready for closing. Right before the closing, you will do a Final Walk Thru with your agent to ensure the property is in the same condition as when you wrote the contract, any requested repairs were completed and all systems are working properly. Then the day has come…Closing Day!!! Make sure you take your certified funds and driver’s license to the closing. Get the movers ready – you now own a house!