Purchasing a home is an exciting milestone, and at Peter Cuffaro Estate Agents, we’re here to guide you through these final, important tasks. As you near the completion of owning your dream home, it’s vital to address these areas for a seamless transition.
Complete Your Mortgage Arrangements: Start by ensuring your mortgage is fully arranged. Confirm all details with your lender, including interest rates and monthly payments. Being clear on your financial obligations is crucial for peace of mind.
Schedule a Professional Inspection: An inspection by a professional is indispensable. It highlights any potential issues, allowing you to negotiate repairs or adjust your offer. This step safeguards you from unexpected costs later on.
Review the Completion Statement: Before the final day, examine the Completion Statement. This document outlines your loan’s final terms and related costs. Compare it with the initial Loan Estimate to ensure everything matches.
Verify Title and Secure Insurance: Conduct a title search to confirm the seller’s legal right to sell the property. Title insurance protects you from future disputes over ownership, offering peace of mind.
Prepare for Completion Costs: Allocate funds for completion costs, typically ranging from 2% to 5% of the purchase price. These include fees such as loan origination and valuation.
Conduct a Final Property Inspection: Inspect the property one last time before completion. Ensure all agreed-upon repairs are completed and the house is in the expected condition.
Understand Completion Day Procedures: On completion day, you’ll sign numerous documents. Ensure you understand each one and feel free to ask questions. This finalises your purchase.
Set Up Utility Services: Arrange utilities like water and electricity to ensure they’re ready from day one in your new home.
Addressing these tasks thoroughly ensures a smooth home-buying experience. At Peter Cuffaro Estate Agents, we’re dedicated to making your journey to homeownership as smooth and successful as possible. Welcome to your new home!
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