If you’re getting ready to close on a property, you need to make sure that everything is prepared on time and meets appropriate deadlines. Deadlines are absolutely critical. Fortunately, when you work with your attorney, you’ll be able to get more information on everything you need to do in order of what’s most important.
What tasks do you need to complete to close on a property?
The following is a short list of possible tasks you’ll need to complete to close on a home. You should still speak with your attorney to make sure all tasks in your situation are done on time, since they may not be listed here.
- Make sure all parties sign a sales contract
- Place any earnest money deposit into an escrow account so that it does not commingle with the seller’s bank account and personal funds
- Speak with and work with your lender. You need to give your lender all appropriate loan documents as soon as you can so that you can have the financing for the home confirmed. As a buyer, you should prepare a loan commitment letter for the seller by requesting one from your lender.
- Get the right closing agent. Your attorney can help with closing and make sure you’re properly represented throughout the closing.
- Remember to have the home inspected. A home inspection can show you issues with the property that make or break your purchase.
- Look into zoning. Your attorney can help you make sure that this home or property is in the right kind of zone, like residential or commercial.
As you can see, these are important tasks, and they’re just the tip of the iceberg. Our site has more on what you should do to close on a home.