What to Expect Now that you have Purchased A Home!
Will they continue to show the home?
Until we have completed the home inspection and the repairs have been negotiated, they will most likely continue to show the home. In our MLS system there are three possible options of status: Active, Active with Contingency, and Pending. The home may be shown while it is Active and Active with Contingency. This is because only after everything has been signed off of on the Home inspection is your home actually Pending.
What about the home inspection?
Most inspections are quite lengthy, lasting from 1.5 to 3 hours. The sellers, more often than not, do not attend the inspection. I strongly urge you to be there. At the end of the inspection, please ask the inspector to point out to you any problems he feels need attention. You will be given a copy of the inspection report. Once the inspection is completed, we will negotiate the repairs with the sellers and their agent. (Please not, the seller is responsible for repairing, heating, plumbing, electrical, etc. The seller is not liable for cosmetic items that the inspector might point out, such as holes in screen, walls painted, cracked tiles, etc.)
When do I take possession?
Unless you and the seller have agreed, through a separate possession agreement, that you will take possession at a time other than the closing date, you will not be allowed to have keys or access to home prior to the signing of all the documents at closing.
When do I turn on the utilities?
If you are taking possession after closing, arrange for the utilities to be transferred into your name on the day of closing. If you plan to move in prior to the day of closing, they must be transferred into your name on the day you take possession.
You are entitled to a final inspection of the property. This is typically conducted just prior to closing, either the day of or the day before closing, in order to assure you that the property is in the same condition as the day the contract was signed. All repairs contractually agreed upon must be completed and paid receipts must be available for your inspection. As per the contract, the home should be clean and free of trash.
What do I bring to closing?
Check with your attorney regarding the amount of cash (by certified or cashier’s check) that will need to be paid at closing. You will also need your driver’s license or a picture identification card.