When closing a deal, it is normal that some able to make some mistake. Items below are a few guides to keep in mind before closing.
The first thing to consider before closing a deal is to avoid jeopardizing your loan. This means, when you are into another loan, car loan, or having large credit cars charges before closing a deal will put your loan in danger.
Meaning there will be a chance of it being declined. Lenders always do a background check or a second credit before closing to check for new charges. That is why it is important to avoid making large credit when applying for a loan to keep it from being jeopardize.
Time to close a deal is another thing to consider. When closing at the beginning of the month, lenders will be requiring you to prepay the interest of your loan from the day the deal is closed to the end of the month.
Meaning, the cash that you need to close will be more than if you will be closing at the end of the month. You can talk about this matter with your lender.
Regrets or remorse is a common feeling of every buyer before and after the purchase of their desired home. That is why it is important to educate yourself with the buying process, for this will be of big help in minimizing the feeling of regret or as what they called as the “buyer’s remorse”. Most probably, you will forget this feeling soon right after you have moved into your new home and see where your money is going. Maybe you will feel glad and blessed that you have purchased a new home.
After closing a deal, it is now time for you to move in to your new house. Notifying services and utilities can be the next important step that you need to do. Few weeks before the moving is happening, do not forget to contact services like the post office, insurance, movers, telephone, utilities, newspaper and more informing them for your new billing and mailing addresses. You must also get enough quotes from movers to know your possible cost during the move. In addition, you can compare prices and go on with the best one. Yellow pages can be the best resource for this.
Before moving in, it is important to make a final walk through. You can do this by checking appliances for operability. Test all the outlets and make sure that all of them are working safe and sound. Turn on the light and switches to make sure that all are working properly, as well as the toilets and faucets. Check the contract you have signed and make sure that all things included in the contract are present. Make sure that proper, promised cleaning is done accordingly, and if your house is newly constructed, make sure to jot down things that need to be completed or fixed. If possible, include the completion date.
Finally, the most important thing to remember is to avoid bringing in personal check to pay. Closing costs monies must be deposited in escrow before you can close, and money should be in the form of a certified check or a money wire transfer. You had better check about this method with your escrow officer.