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Events: |
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Appraisal:
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The Mortgage lender will send a real estate appraiser to determine the value of
the
home. If the appraised value is below the agreed sale price, the lender will not provide a
mortgage loan.
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Property
Inspections
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Seller's
repairs
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Final
mortgage loan approval
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Things
the Buyer must do: |
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 Follow
up with Mortgage lender or broker:
Make sure a check for the mortgage loan will be available at the
closing. Mortgage documents and check should be delivered to the
Closing Attorney, Escrow Agent or Title Company officer prior to closing
day.
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Get
Inspections done:
Get your inspections done early so that seller will have time to make any
needed repairs.
- Termite inspection
- Roof inspection
- General inspection of appliances, air conditioning &
heating, electrical system, plumbing, sprinklers, etc.
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Check
Repairs:
Make sure Seller has made all agreed repairs, and that work is of
acceptable quality.
- Any incomplete repair should be
accounted for on the Settlement Statement by a credit to the Buyer
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Get
Warranties and Instruction Manuals:
Remind Seller to gather all warranties and
instruction books for the home’s appliances and systems. Buyer should
get these at or before the closing. |
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Notify
Utilities:
Notify electricity, telephone, water, trash and other services to advise them of your
move-in date. |
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Get a copy of the
settlement statement:
Review it with your real estate agent and question anything you don't
understand. Pay special attention to amounts "Paid from
Borrower's Funds." (The settlement Statement refers to the
Buyer as the "Borrower" because the Buyer is borrowing the
mortgage loan amount.) |
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Copyright January 1, 2003
Audrie.com Corporation
PO Box 870454
Stone Mtn, GA 30087
All rights reserved
Fax: 770-469-2180
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