Closing
Finally. It is that time, you have a closing date appointment set. This means it is almost time for congratulations and you can go on to enjoy the best and most exciting part of the whole process - moving in. However, before you put your final signature on the closing documents do not forget to tie up these loose ends:
Final Walk-Through Inspection
More of a formality than anything else, the final inspection takes place a day before the closing If the property is a new build, a builder or contractor may attend. You will visit the property to make sure the home is the same as when you last viewed it, that all repairs were completed, if needed, and that everything included in your purchase is still at the property.
Be Prepared
Although rare, finding a significant problem at the final inspection is possible, but it doesn't have to be a deal-breaker. More than likely, it may delay the closing by a few days to resolve the problem. The good news is that you don't have to deal with this alone. We have encountered these problems before and are ready to assist you in such situations.
Closing Day
The Seller’s attorney will furnish your attorney with a closing statement, which summarizes and details the financial transactions enacted in the process. You will be required to sign the conveyance documents and if you are obtaining financing, you will also have to sign all pertinent documentation required by the lending institution. The Seller should arrange to have all property keys and any other important information for you at the closing. If you are off-island and unable to attend the scheduled closing, alternative arrangements can be made with your attorney.
Congratulations! You are now a proud homeowner.
If you have purchased your home as an investment property or holiday home, you may be looking to put your property on the long term or short term rental market in the near future. We are a full-service real estate firm so be sure to speak to your real estate agent about the rental and management services we offer.