Preparing to Close

Use this list as a guide to the tasks you will need to complete as you prepare to close. The contract will dictate the dates by which many of these items should be completed, and some have been discussed in previous sections. Several items require no direct action on your part; but it is your home and your money, and you should be aware of what is involved.

• Schedule Inspections
  
• Schedule the Appraisal
  This is often handled by the lender and REALTORS®.
  
• Review and Satisfy All Contract Contingencies
  
• Finalize Your Mortgage
  
• Order A Survey
  It’s very possible that you will need a new survey of the property. Your attorney and/or title company will typically handle this.
  
• Order Title Insurance
  Again, this is typically handled by your attorney.
  
• Purchase Homeowner’s Insurance
  Your lender will require proof of your policy before closing.
  
• Prepare Your Purchase Funds
  Although you won’t know the exact dollar amount you’ll need to bring to the closing until a day or two beforehand, you will need certified funds. Now is the time to cash out investments or make other arrangements to free up the cash, if necessary.
  
• Get Ready for Moving Day
  If you will be hiring professional movers, you should make those arrangements as soon as you have a firm closing date. You can start packing small items yourselves, making sure things are well-labeled. It’s also time to make arrangements for mail forwarding and utility installations (and shut-offs at your current home).
  
• Schedule the Walk-Through
  Ideally, the final walk-through should be scheduled an hour or two before the closing. Your REALTOR® will make the arrangements and accompany you. This is your last chance to verify that requested repairs have been made and the house is ready for you to move in.