Stress Free Closing

You’ve signed the contract and are looking forward to moving into your new home, but there are a few steps that cannot be overlooked. By following these easy steps, you will ensure yourself a smooth move into your new home.

If you haven’t already done so, you will need to set up an appointment with your mortgage consultant and be prepared with the following financial statements: W-2 forms or signed tax forms for the past two years, copies of your most recent bank statements (current and consecutive for at least two months), copies of your most current pay stubs or proof of income if self-employed. We will fax a copy of your ratified contract to any/all lending institutions you wish to receive a good faith estimate from. We are proud to recommend Mortgage Bankers of Virginia as an excellent local mortgage lender.*

Next is the home inspection. We’ll arrange a time to return to the property for the home inspection, typically within five business days after the contract has been signed. A licensed home inspector will accompany you through the home and point out how to operate all the mechanical items and how to properly maintain your new home. The home inspector will also write up any repairs or discrepancies, if any exist. The inspection typically takes two to three hours. The home inspection items that are covered under the contract are mechanical, structural, plumbing, and electrical repairs. You should also have the inspector test the Radon level.

The home inspector will create a report that we will use to notify the Seller of any problems. If any deficiencies show up in the report, the Seller is required to complete up to $500 in home repairs. Any repairs that exceed this amount will have to be negotiated. We will negotiate all or some of the repairs that will need to be made prior to closing. If both parties cannot reach an amicable agreement, then the contract may be terminated.

Don’t forget to transfer all the utilities into your name two weeks prior to closing.

We recommend Sharon T Laroe to complete the closing on your new home. We have used the Sharon T Laroe Attorney Firm for some time now and have found the firm provides exceptional real estate services. We will fax your ratified contract to whoever you choose to complete your settlement. They will do the title work, examine the survey, and coordinate mortgage and insurance documents and prepare all the necessary closing paperwork. After the settlement, they will prepare packages for your mortgage lenders, accounting and title insurance, life documents with the county, and release escrow.

You will need to provide proof of homeowner’s insurance at closing. You have the right to choose your own insurance company. If you have not selected one, we can recommend Nationwide Insurance. We will fax a copy of your ratified contract to the insurance company of your choice. You may want to choose more than one for comparative purposes.

We'll conduct a final walk through of the home with you. We’ll note any discrepancies from the home inspection that has already been completed. It is not unusual to complete two walk throughs. One a few days before closing and the final walk through about an hour before closing.

The day before or the morning of closing you will need to obtain certified funds for the settlement. Sharon T Laroe will provide the exact funds that you will need to bring to closing.

By taking the time to go through this process in a detailed and timely manner, your transition into your new home will be easy and stress-free!