There is no way to guarantee a smooth path from a ratified contract to the settlement table, but doing your part is at least half the job -- with the guidance of your real estate agent, loan officer and closing agent -- is at least half the job.
Select a date for the walk-through of the house. You may wish to have a walk-through two weeks or so before you intend to close if you expect work will need to be done by the owner. Then a final inspection can be made just prior to settlement.
Contact the utility companies about establishing service in your name. Arrange for electricity, gas, oil and water to be turned on in your name on the day of settlement so that there will be no interruption in service. Make these arrangements a few weeks in advance, since utility companies may require deposits, credit checks and advance notice.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
In order for things to go smoothly at the closing each person must bring certain documents, and you must be prepared to write the necessary checks.
Many closing costs can be paid by personal check, but ask the closing attorney or title company. A certified or cashier's check may be required; find out to whom checks should be made payable -- the seller or settlement attorney, for example.
Once all the documents are signed and initialed the house is yours. Congratulations.
-
What's at Stake for Alphabet as DOJ Eyes Google's ChromeAlphabet is higher Tuesday even as antitrust officials at the DOJ support forcing Google to sell its popular web browser. Here's what you need to know.
-
Lowe's Stock Is Falling After Earnings. Here's WhyLowe's stock is lower Tuesday as Wall Street weighs a beat-and-raise quarter against declining revenue. This is what you need to know.
-
Will lower mortgage rates bring relief to the housing market?The Kiplinger Letter As mortgage rates slowly come down here's what to expect in the housing market over the next year or so.
-
Commercial Real Estate Outlook 2024: The Kiplinger LetterThe Kiplinger Letter In 2024, expect hybrid and work-from-home trends, tighter budgets, rising rents and the demand for data centers to continue.
-
Delinquent CRE Loans Are on the Rise: The Kiplinger Letter
The Kiplinger Letter Banks are expanding their efforts to restructure CRE loans to avoid losses from the commercial real estate sector.
-
As Mortgage Rates Rise, Renting Is Now Cheaper Than Buying for Many: The Kiplinger Letter
The Kiplinger Letter A jump in mortgage rates has caused housing affordability to slump and priced many first-time home buyers out of the market.
-
Rental Market Will Slow Through 2023: The Kiplinger LetterThe Kiplinger Letter Expected growth in the rental market is likely to remain slow for the rest of the year amid a slow housing market and cooling economy.
-
How to Set the Price to Sell Your Homereal estate If you're selling your home, setting the right price is crucial. Don't overprice or you'll scare away prospective buyers.
-
WFH Impact on Commercial Real Estate Market: Kiplinger Economic ForecastsEconomic Forecasts Commercial real estate continues to struggle. Office vacancies hit 18.9% in the second quarter of 2023.
-
Greenland, U.S. Plans to Boost Tourist Economy: Kiplinger Economic ForecastsEconomic Forecasts A U.S. congressional effort could see some Canadian visitors get longer stays, meanwhile, Greenland bids to be the next vacation hotspot.
