Ensuring the Closing Goes Smoothly
One of the best parts of my job is telling a Buyer their offer has been accepted. While you and your family will be preparing for moving day, I will be working with the Listing Agent, your Lender, the Title Company, Appraiser and the Home Inspector to ensure everything goes smoothly for your big day.
One of the first things I do is send a copy of the executed Real Estate Purchase Contract to the Title Company so that title can research the property and ensure there are no liens or claims against the home or land. In other words, they are ensuring the home has a clean and clear title. Once the Preliminary Title Report (PR) has been sent to me, I will forward it to you for review. This report will include CC&R’s, DRC Guidelines and any other pertinent information regarding the property. It is very important you read everything that accompanies this document.
You are required to pay for a Lender’s Policy as part of your closing costs. This policy insures the validity and enforceability of the mortgage document. This guarantee makes it possible to sell the mortgage in the secondary market. The value of the policy equals the amount of the mortgage.
You will also be charged an Owner’s Title Policy from the title company and is part of your closing costs. This policy is insurance that protects the buyer’s ownership right to the home, both from fraudulent claims and from mistakes (such as inaccurate description of the property) made in earlier sales. It’s a one-time cost based on the price of the property. Title insurance is particularly important for buyers who purchase homes in foreign countries, where property records can be murky or non-existent. Title insurance is a good idea even for new construction. Even though the home is new, the land isn’t. there may be claims on the eland or liens place during ht construction.
You are free to use any title company you choose and we encourage you to shop around for the best rates. We have used North American Title as our Title Company over the last 4 1/2 years and have found their rates to be the best around. They have also provided our clients with incomparable customer service and continue to compete to make their rates unbeatable.
Heather Woolsey, Escrow Officer
The next step is to schedule the Home Inspection. While the decision to have a home inspection is completely up to the you, I highly recommend having one as the inspector will go through the home thoroughly checking everything from the roof, appliances, AC/furnace, windows, etc. to ensure the home is in good working order. A typical home inspection on a 3500 sf home will cost around $350 and will be paid for at the time of the inspection. Feel free to find your own inspector or see the list of names below for some of the home inspectors our clients have used and love.
The bank will order the appraisal.
If at any time leading up to moving day you have a question, problem or concern, I’ll be there to help. You can count on me to be your real estate agent before, during and after you cross the threshold into your beautiful new home.
If you have questions about the home buying process, please feel free to call or email or submit the form below.