I want to introduce myself and congratulate you on getting a home under contract! I am the Team Manager for The Matt Difanis Team at RE/MAX Realty Associates. We are honored to be working with you on your home purchase! Below is an overview of what happens between now and closing, so you know what tasks we will be doing, what to expect from your attorney, and what items will require your attention.
If you are having a home inspection, that is likely your next major step in the process. Be sure to get an attorney retained no later than your inspection date, as our first important contact with our buyer clients’ attorneys usually happens when serving post-inspection notices and negotiating post-inspection agreements. I am attaching a form that provides a list of tasks that a buyer’s attorney typically performs. If you do not already have an attorney retained, we are happy to provide you with recommendations. Also, if you have already received a recommendation from a friend or colleague, you may want to run it by us to confirm that it is someone experienced with real estate matters. There are many truly excellent attorneys who are not necessarily the best (or most cost-effective) choice for a routing real estate transaction if they do not have much experience dealing with that sort of work.
If you are obtaining a mortgage, that is the most important process happening on your side of the transaction. We will work with your lender to ensure that the lender is in the loop on scheduling closing, but you will be responsible for promptly providing any documents that your lender needs to continue processing your application to ensure that you get your approval promptly. If we can assist you with distributing documents, or with any other logistical part of the process, do not hesitate to let me know.
You will want to contact utility providers when we get within a couple of weeks of closing. I will be glad to provide you with a list of providers specific to the property you are purchasing. Be sure to have, at a minimum, gas, electricity, and water transferred into your name no later than the day of closing to ensure that the property does not have an interruption of service.
We will coordinate scheduling of your closing. Bear in mind that closings only happen on banking business days. And while we will make every effort to accommodate your scheduling preference, keep in mind that I will be coordinating among schedules of the lender, the title company (or lender or attorney’s office) that will host the closing, the listing agent, the Seller, and the Seller’s attorney. So definitely let me know your scheduling preferences, but be aware that I cannot always ensure perfect scheduling results. Depending on specific circumstances of each closing, I commonly get the closing time scheduled between one and four weeks ahead of the actual closing date.
We will schedule with you the final walk-through, which you are entitled to do within the 48 hours prior to closing. That is your final pre-closing opportunity to make sure that the property is in the same general condition as when you signed the purchase contract (with normal wear and tear excepted as per the contract language), to verify any agreed-upon repairs, and to make sure that all mechanicals are still in normal working condition as per the Seller’s obligation under the terms of the contract.
The Seller owes you a termite inspection report between 10 and 30 days prior to closing. I will pass that along as soon as I receive it, along with sending it to your lender and attorney.
There may be a variety of other items that we are working on behind the scenes as we progress from contract to closing. If you have any questions, please do not hesitate to contact me any time.
Again, congratulations on your home purchase, and thank you for the opportunity to work with you!
Tracy Wilson, Team Manager
The Matt Difanis Team
Matt Difanis, Jeffrey Gibbens & Jayme Ahlden
RE/MAX Realty Associates, Champaign, IL
217-373-4876– Direct Dial Office Line
801-912-5405 – Direct eFax