Closing on a house can be extremely exciting, and it may seem like it takes forever for this day to arrive. The closing date will usually take at least a few weeks after making your offer, and this is primarily because there is a lot of paperwork and steps that must be completed before ownership of the house can be transferred from the current owner to you. When you find out your closing date, you will also need to do some different things, and here are three important things you may need to do before you close on the house.
Obtain a cashier's check
In most cases, a cashier's check will be needed at the closing on a house, and this is not something you can substitute with cash, a personal check, or a money order. You must have a cashier's check, and this is usually something you must get from your lender. The check will need to be made out to the closing company, in most cases, and it will be your total costs for buying the house.
The money from the check will be distributed by the closing company to the necessary businesses or people. For example, some of the money will go to the homeowner's lender (the person who is selling you the house). Other money will go to the real estate agent and to the companies that performed inspections.
Purchase home insurance
For your closing to go through, you will also likely need to have proof of home insurance. This is also a necessity. You cannot buy a house with a loan and skip purchasing home insurance. Because of this, you must contact an insurance company weeks before the closing to purchase your policy. You will get a letter from the insurance company that will serve as proof of insurance, and you will need to bring this with you to your closing.
Contact a locksmith
A third step you may want to take is calling a locksmith to line him or her up to change the locks on the home on the day of your closing. This is not a necessity or requirement, but it is something many people do when buying a house. It is done as a safeguard, simply to make sure that the no one else has a key that will work for the locks on your new home.
There are other steps you may also need to take, but your real estate agent will help you know what these are. If you have any questions, contact an agent today.