If you’re a first-time homebuyer, it might surprise you to discover that purchasing a house is a complex process that takes weeks to complete. The purpose of this extended timeframe is to give the buyers and the sellers time to complete essential legal paperwork with the help of their real estate agents, attorneys, and title professionals. Here a few actions homebuyers should complete before moving into a new home, and why they’re necessary.

3 Tasks to Remember Before Closing on a Home

1. Review Contingencies 

During the due diligence period, you and your real estate agent may ask the sellers to complete certain tasks before moving ahead, such as making repairs on the home or having certain systems professionally fixed. Sellers can also request contingencies, such as obtaining the proper appraisals or performing inspections within a certain timeframe. Before you close on your home, meet with your real estate broker and attorney to review the status of contingencies. If issues haven’t been resolved yet, talk with your lawyer about adjusting contingencies or moving the closing date.

2. Talk With Your Mortgage Broker

To prevent surprises during the property transition, meet with your mortgage broker to discuss the financial aspects of your purchase. Make sure you understand how much your monthly payment will be, when it’ll be due, and how that total could change from year to year. 

3. Conduct a Final Walk-Through 

Before the sale is finalized on your closing day, take the time to perform a final walk-through on the home with your real estate agent. During the walk-through, inspect the home carefully to ensure that all the tasks you asked the seller to take care of have been completed properly. Check appliances, plumbing fixtures, electrical outlets, and HVAC systems to ensure that everything is working correctly. If you spot problems, report the issue to your attorney and real estate agent so they can request further repairs from the seller.

Whether you have questions about your real estate contracts or you need help with document preparation, contact the professionals at Hawaii Convey in Honolulu. For over 30 years, their team of attorneys has been helping clients with real estate, probate, and business law, streamlining every aspect of property acquisition. For targeted advice personalized for your property investment, send a message online or call at (808) 792-8777.