Closing Utah Real Estate | Home Closing | Property Buying | Real Estate Closing | Buying Homes in Utah
Equity Real Estate REALTOR tips for home buying, serving Salt Lake City, Bountiful, South Jordan, Park City to Provo.

realestatehomesutah.com mastheadHome nav buttonMLS Property Search nav buttonHome Sellers nav buttonHome Buyers nav buttonUtah nav barEquity Realty Agent nav buttonContact nav button

   Home > > Buyer's Library > > Smooth Closing

real estate image 1
real estate page image

Steps to a Smooth Closing of Your New Home
By Mike D. Martin


Closing Your New HomeIt would be nice to buy a house the way you buy a washing machine or a TV. Do a little research, look over the market and say, "I'd like that one, please."

Not a chance.

First off, there are many people involved in the transfer of ownership of a home from one person to another. And each person will get compensated for their efforts. There are the real estate agents, the mortgage company, the home inspector, the appraiser, the title company, and then the insurance company.

Truth is, they all have hard work to do. And the culmination of all their efforts and of your overworked wallet comes at the closing of the house...that scary and official and marvelous moment when you become the home-owner.

OK, you found the house you like. Now what?

There are things for you to do to bring about a happy conclusion to your efforts. When you decide "this is for me", do some research and find out if the price of the house is reasonable for the market. Your REALTOR can do the basics for you, and give you comparables in the neighborhood that have sold in the last 6 months to provide you with a view of the market. He or she can add or subtract the particulars of your intended house in comparison with recent sales.

The next step, if you are satisfied that the value of the house is equal (or greater) than the price being asked, is to put in a offer....always subject to a home inspection, of course. Some people think this is a disposable step, as a home inspection can cost a couple of hundred dollars. A good home inspector is worth his or her weight in gold. Your intended house may look great, but most homeowners do not have the expertise to determine what hidden flaws there might be. I am sure most of you are not going to climb up on that roof or slither thru the crawl space looking for problems...and even if you did, you might have no idea of what it would cost to remediate the deficiency. Purchasing Your Dream Home

The inspector can help you avoid a money pit, but he can also give you ammunition for the negotiations, in that you will know approximately how much it will cost to make the house livable. If there is a problem, you can negotiate that into the price you offer for the house, or that amount of money can be put into escrow so you can have the work done after the closing. The lender might also have some requirements as well. After all, the lender has a stake in whether the house will last as long as the loan.

Now is the time to schedule an appraisal so you will be confident in the value of the house--more important, the bank needs to know this number. Your REALTOR will help keep the proceedings moving forward and help all the balls stay in the air. He'll gather and assemble documents, ascertain taxes, insurance, appraisals, etc.

The day of the closing is momentous to both you and the seller, even though it is business as usual for all the professionals involved. You will be informed how much money is needed as well as in what form. Usually it's a cashiers check. These days, closings are mostly pro forma and quick---and if both you and the seller leave the table smiling, this is as good as it gets.

For more articles or information about buying or selling your home, visit www.MikeSellsPittsburgh.com.

Mike is a real estate agent in Pittsburgh Pennsylvania who's the marketing director for his real estate team. He specializes in helping buyers and sellers live affordable lifestyles.

Article Source: http://EzineArticles.com/?expert=Mike_D._Martin

 

 

 

Equity Real Estate Logo

 Barry J. Preusz
Realtor | Residential Specialist

1218 East 7800 South
Salt Lake City, Utah 84094

Office: 801-993-0083


Click Here to Contact Us

agents
utah real estate






 




Home nav buttonReal Estate | Home Search nav buttonUtah Local Areas nav buttonReal Estate Financing nav buttonReal Estate Glossary of Terms nav buttonReal Estate Resources nav buttonEquity REALTOR Contact

realestatehomesUtah.com     © 2016     All Rights Reserved

Closing Utah Real Estate | Home Closing | Property Buying | Real Estate Closing | Home Buying Process in Utah | Buying Homes in Utah

Equity Real Estate REALTOR tips for home buying, serving Salt Lake City, Bountiful, South Jordan, Park City to Provo. Utah real estate & realty information, featuring new homes, mountain views & waterfront property, single family homes, condos, town homes, ramblers, new construction homes, houses for sale, home listings, planned communities, and real estate listings.

Your Utah real estate resource for condominiums, townhouses, ramblers, new construction, gated communities, master planned communities, retirement community, country clubs, one story, split-level, tri-level and two story homes. We provide houses for sale, home listings and moving & relocation services.

Serving Alpine, Alta, American Fork, Bluffdale, Bountiful, Cedar Hills, Centerville, Cottonwood Heights, Daybreak, Deer Valley, Draper, Eagle Mountain, Emigration Canyon, Farmington, Heber City, Herriman, Highland, Holladay, Kamas, Kearns, Layton, Lehi, Lindon, Magna, Mapleton, Midvale, Midway, Murray, North Ogden, North Salt Lake, Ogden, Orem, Park City, Payson, Pleasant Grove, Provo, Riverton, Salt Lake City, Salt Lake County, Sandy, Saratoga Springs, Snowbird, South Jordan, South Ogden, South Salt Lake, Spanish Fork, Springville, Sundance, Summit County, Taylorsville, Tooele, West Bountiful, West Jordan, West Valley, Woods Cross, Utah County.