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BUYERS HOME CONTRACT TO CLOSE CHECKLIST

Congratulations! You’re under contract! With the help of your Mave & Market Real Estate Agent, you’ve successfully negotiated a price and signed a contract on a new home. We know the contract to closing period can be one of the most stressful parts of the home buying process, so we’ve put together a checklist of steps to help you. Your Real Estate Agent at Mave & Market is an expert when it comes to this process and is happy to assist you should you have questions along the way.

Don't know the Charleston home buying process? Contact Us at anytime. We are here to help!

IMMEDIATELY

1. FINALIZE YOUR MORTGAGE

If the contract you negotiated includes a financial contingency period, you have a set amount of time (as detailed in the contract) to secure a loan to purchase the home. It is important to treat each request by your lender with high priority during this time to ensure a quick and easy loan approval prior to closing. Check out our page on Financing A Charleston Home to learn more about securing a mortgage in Charleston.

2. SCHEDULE A HOME INSPECTION

Because we want you to discover any problems with your new home before you own it, we strongly recommend you schedule a third party inspection. By scheduling your inspection right away, you will have time to address any issues with the home during the option period. The team at Mave & Market will handle the home inspection coordination for you. To learn more about what a home inspection covers and your options should you find issues with the home, check out our page on Home Inspections. 

THREE WEEKS BEFORE CLOSING

1. ARRANGE FOR AN APPRAISAL

Your lender or bank will require an appraisal by an independent party in order to finalize the mortgage. The appraisal determines whether the seller's asking price is higher or lower than the actual value of the home. The cost of the appraisal is typically part of your closing costs (rather than the seller's cost). The results of the appraisal may require renegotiation of the contract, so it's a good idea to have it done early. The team at Mave & Market will handle the appraisal coordination for you.

2. PERFORM TITLE RESEARCH

This step is performed by the title company selected during contract negotiations. The title company is responsible for issuing title and providing title insurance, so the title company will make sure there are no issues with the property such as any outstanding mortgages, unpaid taxes and restrictions that may impact your ownership of the home after closing. The team at Mave & Market will handle the title research coordination for you.

3. BOOK MOVERS

We highly recommend scheduling with a moving company at least 3 weeks in advance. We can help you with our list of movers upon request. 

TWO WEEKS BEFORE CLOSING

1. PURCHASE HOMEOWNER'S INSURANCE

As part of the financing process, your lender will need to know all the information related to your homeowner’s insurance. Having your homeowner’s insurance in place helps the loan process move along smoother and faster. It's a good idea to shop around and compare quotes before committing to any policy. Don’t forget that flood damage isn’t covered by your typical homeowner’s insurance policy, so you'll need to purchase this separately.

2. SECURE A HOME WARRANTY

A home warranty covers appliances (e.g. dishwasher, oven) and major mechanical systems (e.g. HVAC, plumbing). Typically, the seller sets an amount they will pay for a home warranty and the buyer selects their own home warranty company within that price range. In an effort to provide you with all of the information and resources you need, we have compiled additional information regarding securing the right Home Warranty in Charleston.

3. SCHEDULE DATE FOR CLOSING

In anticipation of closing, your Mave & Market agent will contact all parties involved in the sale to arrange a date for closing. This meeting is most often held at the offices of the closing attorney. Make sure that you will be present for the entire closing; it can take over an hour to complete.

ONE WEEK BEFORE CLOSING

1. SCHEDULE AND ATTEND A FINAL WALK-THROUGH

The final walk-through typically occurs one or two days before before closing and is an important step you shouldn’t overlook. It gives you a chance to make sure all repairs have been made by the seller and there are no last-minute problems with the home before closing.

2. PLAN YOUR MOVE

During the complicated process of completing your home purchase, it can be easy to overlook the little details you will need to complete soon after closing, like changing your address and transferring utilities to your name. Be sure to review our New Homeowners Guide, which will assist you in planning for a in to your new home.

3. OBTAIN CERTIFIED CHECKS

You will need certified bank or cashier’s checks from your bank in order to pay final closing costs to the title company and seller. Make sure you have plenty of personal checks as well in case any last minute payments are needed at closing.

 

DAY OF CLOSING

This is the time when the last papers are signed and once the deal funds, the home is officially yours! Typically, both parties meet at the office of the closing attorney at different times to sign all required documents. As a buyer, you will have quite a bit of paperwork to sign - especially if you have taken out a loan to purchase the property. Closings typically take an hour or more, so be prepared for a long morning or afternoon.

WHAT TO BRING TO CLOSING

  • Photo ID
  • Certified checks from the bank
  • Personal checks for any last-minute payments
  • Copy of homeowner's insurance

The Mave & Market team will bring all documents related to the sale of the home (inspection reports, copy of contract, etc.). Once both you and the seller complete the closing process and the funds have been transferred, you will receive keys to the property and the process is complete! Congratulations! Don't forget your New Homeowners Checklist to ensure moving day is smooth!

READY TO BUY A HOME IN CHARLESTON, SOUTH CAROLINA?

PLEASE FILL OUT THE FORM BELOW AND RECEIVE AN INSTANT COPY OF OUR COMPREHENSIVE CHARLESTON REAL ESTATE BUYERS GUIDE VIA EMAIL. ONE OF OUR QUALIFIED AGENTS WILL BE IN CONTACT TO HELP YOU GET STARTED ON YOUR HOME SEARCH.