Get ready to close the sale

You have the purchase agreement in hand. What next?

All that needs to be done is to close the sale on the date agreed on in the purchase agreement. But you have to take care of several things before the closing date.

Make sure that your mortgage has been approved

Lenders take up to 4 weeks to process a loan application. Follow up with the lenders and make sure that everything is in order and to make sure the lender will be ready with the loan on the closing day.

Get proof of clear title from the seller

It is the responsibility of the seller to show that he/she owns the title to the property and that no one else has any claims on it. If the seller cannot show that he/she has a 'clear title', the sale cannot go through. Your agent can follow up the matter with the seller and the listing agent.

Final viewing

A day or two before the closing, you are entitled to examine the house again to make sure that everything is in order. Perhaps the seller had agreed in the purchase agreement to perform some repairs before the closing. You want to make sure that they have been completed. Obtain copies of paid bills and any related warranties. See if all items that were included in the sale price-draperies, lighting fixtures-are still there. Check if screens and storm windows are in place or stored. Test to see if all appliances are operating and Intercom, doorbell, and alarm are operational. And that hot water heater is working. See that no plants or shrubs have been removed from the yard. Check if garage door opener and other remotes are available. Check if instruction books and warranties on appliances and fixtures are there.

Make sure you have the funds to pay for closing

The lender will tell you the exact amount of money that you have to pay to the lender to cover the fees the associated with closing. So need to make a trip to the bank to get a cashier's check made out to the lender for the exact amount due.

Closing day

It is indeed a happy day for you as well as for your agent. Relax and enjoy the feeling. Most of the paper work will be done by the lenders. All the work you need to do during closing is to sign on dotted lines. And pick up the key to your new home from the seller.