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PREPARE TO SETTLE

Once the contract to purchase (agreement of sale) is completed the following steps are taken:

• Order and complete all inspections, review reports.
• Make mortgage application.
• Order Title Insurance.
• Apply for homeowner's insurance.
• Contact the proper utility companies and arrange to have service connected at the time of possession.
• Arrange for a moving van.
• Confirm the time and place of settlement.
• Confirm the pre-settlement inspection.
• Arrange for adequate time off from work.
• Obtain a certified or bank check for the total amount due for settlement made payable to both yourself and the title company.
• Review the adequacy of any disability or life insurance.

ON TO SETTLEMENT

Settlement is the common term used for the time the seller and the buyer come together at the abstract office to sign all necessary papers, i.e. deed, mortgage, note, etc. and transfer the keys to the new owners, YOU.

Usually by this time all is tranquil. You already have your mortgage commitment, are aware of all costs facing you, the seller is packed and vacated the property. 1 hour prior to settlement you make a final inspection of the property, be sure all appliances are in working order, trash has been removed and the home is ready for possession.