Sooo many steps lead up to closing day. You’re almost there! You should be very proud of the work you’ve done so far. But don’t get too comfortable. There’s still quite a lot you must do before closing on a home. This week I’m giving you my ultimate pre-closing checklist for buyers in Colorado. It’s a handy breakdown of all your pre-closing to-do’s so you can make a smooth transition from buyer to homeowner!
Pre-Closing Checklist for Buyers in Colorado
You’ll move into a new home when everything is said and done, so you want to make sure it’s all ready for you and your family. Now is an excellent time to start scheduling certain appointments and setting up new accounts. Check the following off your list:
Contact your insurance company—Make sure your new homeowner’s insurance is set up to start on or before the settlement date. Don’t leave anything to chance. Even a gap of a few days between insurance coverage is risky. Disaster always strikes when you least expect it — Murphy’s law. Also, don’t forget to send a copy of the policy to your lender.
Consider a home warranty—If you want to protect yourself in case anything goes wrong with your home, you can buy a home warranty. If something breaks, you would call the home warranty company to repair or replace it. Depending on the house and your family’s preferences, the warranty could save you money or, alternatively, be unnecessary. For instance, if someone in your family is an excellent repairman, you could save money by fixing problems yourself.
Connect your utilities— You don’t want to move in without any power turned on! Get in touch with the electric company to set up your new electric account. You can sometimes arrange to transfer the seller’s account to your name to avoid a re-connect fee.
Depending on whether gas and water are included in your condo fees, you may also need to contact those services. If you aren’t exactly what you’re responsible for, ask me! I’ll help you figure out the best way to manage your utilities and save money in the process.
You can put off setting up your cable and internet until a later date (if you can survive for a bit), but why not knock it out now? The last thing you need in your first few days in a new home is the stress of spotty signal. And I promise, watching House Hunters just hits different after you’ve successfully purchased your own home!
Get Prepared for Closing Day
Before the big day arrives, ensure you have everything you need, including any necessary funds. To avoid rushing around last minute, read over the list below.
What you should bring to the settlement— Some of these are obvious, but excitement and stress tend to make people forgetful. Do you have the following?
- Driver’s license or other official identification
- A Certified check made out to the title company for the funds that you still owe. If that check isn’t enough, you can bring a personal check for up to $1,000. It’s always good to bring a personal checkbook for any last-minute items or small fees you didn’t expect.
* If you are moving funds around, please be aware that banks typically put at least a 3-day hold on large transfers. If you’d prefer to wire your funds directly to the title company instead of bringing a certified check, get in touch with me about how best to do that (wire fraud scams are increasingly common).
- A copy of the closing disclosure form (it replaced the HUD-1 settlement statement). This form lists all final terms of the loan you’ve selected, final closing costs, and the details of who pays and who receives money at closing. Your lender should send you a Closing Disclosure at least three business days before closing.
Final walk-through— We’ll meet at your new home for the walk-through. This is usually scheduled just prior to the actual closing. This is our last opportunity to inspect the home and its condition before taking ownership. It also enables us to confirm that any items (i.e., furniture, appliances) that you and the seller have agreed to remain are there.
This is exciting! After these little details are done, you get to put a big red check mark next to each item on the pre-closing checklist for buyers in Colorado. Now it’s time to head to settlement. For extra peace of mind, let’s discuss the process together! I can talk you through every detail to make sure move-in day is everything you’ve dreamed of.
I'm Lauren Haug! I'm a teacher-turned-real estate agent, and I teach people how to build wealth through real estate in Northern Colorado.
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