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Buyer´s Checklist
Now that you have a contract on your new home, we will help you through the next phase. Here are some things you´ll need to remember:
Make an appointment for your structural and wood-destroying insects inspection. This should be set for the earliest possible date within your Option Period. If you like, we´ll provide you with a list of inspectors we know and have found to be reliable.
Read your contract carefully and take special notice of the following:
-Connect your contract and your calendar to keep track of the milestones until move-in day. The Contract Date written in the contract affects every item in this list. That date is written into the contract by the agent whose clients are the last to sign the final details of the agreement.
-Option Period -The number of days you have specified for the option period you have purchased begins counting on the day Contract Date and ends at midnight on the final day of that period. If you choose to exercise the option to withdraw you must give written notice before that time or be bound to proceed with the contract.
-Title Commitment (usually Paragraph 6B). Within 20 days after the title company receives your contract, they will deliver the Commitment. Read it carefully, and call with any questions as soon as possible. If your questions not answered satisfactorily by the title company you may wish to consult an attorney to review the commitment.
-Survey (usually Paragraph 6C). Make note how long you have to get a survey either from the seller or have one prepared yourself. In the following paragraph in your contract it will describe how long you have to object to anything shown on the survey. You must object in writing within the specified time period.
-Loan Approval - Make sure that your lender knows when you must have approval for the mortgage. We will see that your lender has a copy of the contract with the Third Party Financing Addendum.
-Homeowners' Insurance - If you have a mortgage you must order insurance coverage for your new home before closing and have the insurance agent send the policy binder to the title company.
-Closing date - This is the big day. We suggest you schedule a last-minute walk-through to see that everything in your new house is as it should be. That might be done on the preceding day.
-Possession - This means that when the Sellers receive their money, you take possession of your new home. We suggest setting the closing early in the day to increase the likelihood that the funds will be transferred on the closing day.
In addition to the contractual obligations, there are a few other ithings to do
1. Contact the utility companies and have the utilities transferred to your name. It may be possible to have the meters read and the account transferred without any interruption of service.
2. Contact a moving company and schedule moving services.
3. Arrange for changing your postal address.
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