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5 Tasks to Tackle Before Closing Day


1. Maintain your credit & employment

While it is certainly important to have a strong credit score and employment history prior to requesting a preapproved loan, maintaining good history throughout the home buying process is equally as important. Remember that a preapproved loan is what the loaners are saying that you could potentially qualify for. Continue to make all of your payments on time and do not incur any extra debt. If you are considering a change in your employment, it would be wise to make this change after you have closed on your home.

2. Communicate with loaners

Help your loaners prepare everything on their end by communicating when you have chosen a property that you would like to close on, as well as when the closing date will be. Check to see if there is any additional information or assistance that you can provide to them. After the loaners have finalized the loan agreement document, ask for a copy so you can then review it with your attorney.

3. Plan home repair

When you conduct your initial walkthrough of the property, check to see if there are any repairs that you would like to have done. In many instances, the current homeowner will assist in making these repairs. However, if there are additional repairs, paint jobs, or renovations that you would like to be done on the property, start looking for a contractor who will be able to assist with these changes. Once you have selected your contractor, set up appointments so that the work will be done shortly after the closing date.

4. Make transfers

Once the closing day is set, contact your home insurance company. You will want to make sure that the property is covered once it’s officially under your name. In addition to transferring your home insurance, set a date to transfer your alarm system and utilities to your new home so it will be safe and usable when you are ready to move in.

5. Do a final walkthrough

Completing a final walkthrough is an imperative step, not only to check on the repairs that you requested the seller to complete, but also to ensure that there have not been any additional damages to the home. In some instances, homes may incur some environmental damages, such as flooding or damage from fallen trees. Remember that when you sign that contract, you are accepting the property as is, and the owner will no longer be responsible for any damages. After a successful final walkthrough, you are ready for Closing Day!

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