Looking at home after home with a Realtor is often exhausting, and soon the individuality of each home is lost. Therefore, it is imperative to visit first, second, and third choices several times to review and solidify what each home offers. When the decision is finalized and shopping is complete, ensure the real estate closing process flows smoothly by following these tips:

  • What is the condition of the home being purchased? Home inspectors are practiced at separating emotion from fact and portraying the home as it truly is. Termite control and repair, electrical repair or replacement, or ensuring appliances are working up to code are a few of the items an inspector may report to the homeowner for additional review. Confirm the items on the inspector’s list been repaired or replaced and whether a warranty be included for those repairs.
  • Is the loan acceptable? Verify that the interest rate is the same when the paperwork began. Does the loan company have a pre-payment penalty? When is the first payment due? Is the loan for 15 or 30 years? Speak with the loan officer and solidify all offers in writing before the closing date.
  • How much money is needed on the closing date? Most buyers believe 10% of the home price is what is necessary for closing on a home. However, Realtor fees, inspection fees, credit checks, escrow fees, title insurance, document preparation fees, and closing fees can quickly add up. Determine all charges that will be incurred at closing, what the buyer is responsible for paying, and what the seller is responsible for paying. Once a final price is negotiated, the financial institution will issue a check. Even at closing, however, the final amount may fluctuate so be prepared to bring a checkbook.
  • How are utilities transferred? If the home is new, all utilities (electric, gas, water and sewer etc.) will need to be turned on before moving in. If the home had a previous owner, see if the utility company is able to transfer utilities from the previous owner’s information to prevent a shut-off and reconnection fee.

With two locations in and around Orlando, we can serve your needs. If you have questions about our Orlando title insurance services or the home that you are purchasing, please call us at (407) 615-8550.