The Big Day!
Closing
You are now just a few hours away from taking possession of your
new home. There are still a few things to do.
The Walk-Through
First we need to make sure the house is as you remember it. We do
this by visiting it again. This should be done after the seller has
moved out and not more than 48 hours before the date of closing. It
should take about 30 minutes. We want to make sure all the
appliances and systems are in working order. We need to be sure
there is no damage beyond normal wear and tear. Do not expect the
home to be spotless, and do not expect all the small dings and holes
from picture hangers to be repaired. As you will see in the P&S
contract, the seller is to leave the property in "Broom Clean"
condition. They are not to leave their empty paint cans and other
unwanted items behind. If there is damage or issues we will make a
note of it, and we will seek money to be held in escrow for the
clean up.
The Close
Next is the closing. It is also known as passing of papers. Plan for 90 minutes to 2 hours. If you have
someone to look after your small children, you should consider doing
so. You will need to have all your attention upon the business at
hand. A couple of days before closing you need to check with the
attorney who will be handling the close. He/She will tell you how
much money you will need to bring to the close. You will need to
bring this in the form of a bank check made payable as instructed by
this attorney. You should also bring your personal checkbook.
Sometimes the final figures will change a little bit, and if you
need to provide some more money towards the closing, usually the
attorney will allow you to write a personal check.
When do I get the keys?
After all is signed and the ink is dry, these documents need to
be recorded at the registry of deeds for the county in which your
new home resides. As part of the settlement package, the closing
attorney will send a courier to the registry to record the deed, the
mortgage and some of the other papers. Now you own your new home. In
Massachusetts, it varies by county as to when you can take the keys
and move in. Some require word from the courier that the papers have
been recorded. In others, you may have the keys after signing the
papers. Check with your closing attorney to find out and plan
accordingly.
Congratulations
Copyright©
2006 - Chris Kellogg
All Rights
Reserved
Last Modified
05/16/2007 |
