Once you have a binding contract on a home for purchase, you will need to complete the following activities:

  • Make application for loan, including filling out the application and paying the fee, by the deadline specified in the contract. Many lenders allow you to fill out the application online. And some offer a discounted fee for doing so.
  • Provide all documentation requested by your loan officer and loan processor.
  • Schedule a home inspection. Your agent can refer you to a good and reliable inspector.
  • Following inspection, submit the Amendment to Remove Inspection Contingency, which is the formal request for repairs, by the deadline specified in the contract. Your agent will help you prepare this.
  • With your agent’s help, negotiate for those repairs the seller is willing to make.
  • Let your lender and agent know if you would like a survey of the property and owner’s title insurance.
  • Arrrange for homeowner’s insurance for your new house. Lenders require that insurance be in place before you can complete the transaction.
  • Arrange with seller the best date to begin utilities in your name at the property.
  • For new construction, work with builder or builder’s agent to document a “punch list“ of items that remain to be completed.
  • Walk through the property, whether a resale or new construction, just before closing, to be sure agreed-upon repairs were completed and that house is still in acceptable condition.
  • Bring to closing certified funds in a check made out to yourself for the amount necessary to cover your down payment and your portion of closing costs and prepaid expenses owed. As an alternative to bringing a certified check, you may arrange with closing attorney’s office to have funds wired directly from your bank.