5 Things Homebuyers Must Do BEFORE Closing On A House in Long Beach

You are probably so excited now that the date is getting closer and closer to the time that you will be closing on your new home. It is important to understand though, that before you close on your home, you should be sure to follow some basic steps to ensure the deal goes as smoothly as possible.

The things you must do before closing will help the process go as quickly as possible. Continue reading below for five things homebuyers must do before closing on the new homes that they are purchasing. 

1. Ensure All Contingencies are Met

In order for a home to be sold to you and closing to be completed, all contingencies have to be met. In many cases, the first is a home inspection contingency that you can either waive or have completed to fix any problems before you move in. The second is an appraisal that has to be done to ensure that home value is worth the selling point. Finally, there is the financing contingency so that you can back out if necessary due to a problem with the lender or your application being unapproved.

2. Make the Title Secure

In rare cases, there may be issues in which the home seller has someone claim that they actually own the home that is being sold. It is important to prevent this issue from ever happening by ensuring that you clear the title. You can do this by contacting your own choice of companies for the title of your new home. Be sure to review every company prior to making a selection though to ensure everything works out in your favor and goes smoothly without delay in closing.

3. Make Sure Your Mortgage is Approved and Review Documentation

It is important to make sure that the underwriter has approved your mortgage application before the closing process can begin. Ensure that every piece of information that is on your application is accurate, and make last-minute changes if you find any mistakes. Do not make a down payment on your home until the mortgage application has been approved though to keep your credit in the best standing possible. Make sure you review the disclosure and all documentation associated with your mortgage as well so you understand the interest rates and payment amounts as required.

4. Perform the Final Walk-Through

As the new owner of your home, you do have the right to do a final walkthrough of the home you are buying. This does have to be done within 24 hours of the closing date, however. This is to help you ensure that the home seller has removed all of their possessions and that no damage has been done to your new home. Make sure that it is in the agreed-upon condition from the home inspection and from the appraisal of your new home.

5. Gather All the Necessary Documentation

At closing, you will need all of the documentation that is about to be listed to make the process go quickly. This includes a copy of the buyer's contract, home inspection records, bank records as necessary for the mortgage loan, photo identification information in that it matches the title and insurance documentation. At closing, you do have to spend a lot of time initialing and signing paperwork in order to receive the keys to your home. As soon as this paperwork has been completed and the documentation has been reviewed, you can begin the moving process!

Final Thoughts

Closing, in most cases, is a very exciting moment for new home buyers, though it can also be stressful. It is important to conduct the above tasks in order to make the closing process as stress-free as possible. This will make sure that all documentation, all home processes, and everything about your new home is ready for you to move in. You will feel relieved, stress-free, excited, and not overwhelmed when it gets to that date of closing that you have been waiting so long for.

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