Congratulations on your new home! I want you to know that I will be with you every step of the way to make this as smooth as possible.
1. Arrange for inspections of the house. When you contact a home inspector he will ask you the square footage of the house and when it was built. He will quote you a price over the phone. That will be for a basic inspection - ask them what that includes. I need to be with you and the inspector so that I can fully understand any issue that arises, so please also confirm the appointment with me; I also have the key to the property, so you can’t start without me! If you need a pool inspection, you may have to contact a pool company if the general home inspector doesn’t inspect pools. I have lists of names of qualified inspectors if you need recommendations.
2. If you have not already selected a lender, you must do so within the specified time period stated in your contract. If you need a list of qualified lenders, I am happy to provide that for you. Please make sure to inform your lender of how much time your contract states you have to obtain full loan approval. This information will help them to determine how quickly they need to work in order to get the appraisal, underwriting process, and other items related to your approval completed. I am more than happy to work with your lender and in fact, I appreciate the opportunity to do so because it makes the whole process move along more smoothly. The lender is going to require quite a bit of paperwork from you, old tax returns, pay stubs, etc. I have attached an information sheet that outlines what paperwork you may have to provide. Every lender is different, so this is a general guide.
3. You need to arrange for homeowners insurance after you get full loan approval. The lender refers to this as hazard insurance. Many people have an insurance agent they use for their car or previous home. If you do not know whom to contact, I will be glad to give you some recommendations. But definitely shop around for a good quote. Your insurance will need to be “bound” BEFORE closing and you will have to bring proof of your policy to closing in an original form. (Many lenders will send the necessary documentation for you to the closing agent). Ask the agent what you will need. Usually you do not have to actually pay for the full year before closing, the lender will charge you on your closing statement. However, you must “bind” the policy ahead of time.
4. I will take care of all the other details to get your home closed. That includes ordering the survey and working out the repairs as agreed upon between Buyer and Seller following the inspection. If you want an attorney to represent you at the closing, please let me know. I highly recommend you use an attorney. The Seller’s attorney or closing agent does not represent you. I will be attending closing with you.
5. Other things to do prior to closing:
6. We have a full time concierge department, which can help you arrange so many details –
repair people, re-modeling resources, community resources, moving specialists, etc. This is a free service to our clients, so take advantage of it. Ask me for the name and
number of our concierge person.
7. We should have a firm dollar amount from your lender the day before closing for the amount of the check you need to bring to closing. You will need a certified cashiers check made out to the closing agent. You will also need a driver’s license with photo for each person that will be signing at closing. So at closing you will need: CHECK, PROOF OF YOUR HOMEOWNERS INSURANCE, And DRIVERS LICENSE WITH PHOTO ID.
There may be other details that are particular to your transaction that may arise. This letter contains all the basics. Please do not hesitate to contact me as many times as necessary with any questions or any need that you may have. I am here to serve you and make this whole experience as stress-free and easy as possible!