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Jennifer Bunker
CRS, GRI
Owner/Broker
Coldwater Creek
Properties
Utah's Wasatch
Front
Northern Utah 84405
Office:
801.475-6025
Cell:
801-791-0365
Fax:
801-475.6027
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What Not to Overlook on the
Final Walkthrough |
Be sure that:
- repairs you've requested have
been made. Obtain copies of paid bills and any related
warranties.
- all items that were included in
the sale price—draperies, lighting fixtures—are still
there.
- screens and storm windows are in
place or stored.
- all appliances are operating.
- intercom, doorbell, and alarm are
operational.
- hot water heater is working.
- HVAC is working.
- no plants or shrubs have been
removed from the yard.
- garage door opener and other
remotes are available.
- instruction books and warranties
on appliances and fixtures are there.
- all personal items of the sellers
and all debris have been removed.
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Common Closing Costs
for Buyers |
The lender must
disclose a good faith estimate of all settlement costs. A
check to cover your closing costs will probably have to be
a cashier's check. The title company or other entity
conducting the closing will tell you the required amount
for:
- Down payment.
- Loan origination fees.
- Points, or loan discount fees you
pay to receive a lower interest rate.
- Appraisal fee.
- Credit report.
- Private mortgage insurance
premium.
- Insurance escrow for homeowners
insurance, if being paid as part of the mortgage.
- Property tax escrow, if being
paid as part of the mortgage. Lenders keep funds for
taxes and insurance in escrow accounts as they are paid
with the mortgage, then pay the insurance or taxes for
you.
- Deed recording fees.
- Title insurance policy premiums.
- Survey.
- Inspection fees—building
inspection, termites, etc.
- Notary fees.
- Prorations for your share of
costs such as utility bills and property taxes.
A Note About Prorations. Because such costs are usually
paid on either a monthly or yearly basis, you might have
to pay a bill for services used by the sellers before they
moved. Proration is a way for the sellers to pay you back
or for you to pay them for bills they may have paid in
advance. For example, the gas company usually sends a bill
each month for the gas used during the previous month. But
assume you buy the home on the 6th of the month. You would
owe the gas company for only the days from the 6th to the
end for the month. The seller would owe for the first 5
days. The bill would be prorated for the number of days in
the month, and then each person would be responsible for
the days of his or her ownership.
What
to Keep From Your Closing
- The Real Estate Settlement
Procedures Act (RESPA) statement. This form, sometimes
called a HUD 1 statement, itemizes all the costs
associated with the closing. You'll need for income tax
purposes and when you sell the home.
- The Truth in Lending Statement
summarizes the terms of your mortgage loan.
- The mortgage and the note (two
pieces of paper) spell out the legal terms of your
mortgage obligation and the agreed-upon repayment terms.
- The deed transfers ownership of
the property to you.
- Affidavits swearing to various
statements by either party. For example, the sellers
will often sign an affidavit stating that they have not
incurred any liens on the property.
- Riders are amendments to the
sales contract that affect your rights. For example, if
you buy a condominium, you may have a rider outline the
condo association's rules and restrictions.
- Insurance policies provide a
record and proof of your coverage
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What to Keep From
Your Closing |
- The Real Estate Settlement
Procedures Act (RESPA) statement. This form, sometimes
called a HUD 1 statement, itemizes all the costs
associated with the closing. You'll need for income tax
purposes and when you sell the home.
- The Truth in Lending Statement
summarizes the terms of your mortgage loan.
- The mortgage and the note (two
pieces of paper) spell out the legal terms of your
mortgage obligation and the agreed-upon repayment terms.
- The deed transfers ownership of
the property to you.
- Affidavits swearing to various
statements by either party. For example, the sellers
will often sign an affidavit stating that they have not
incurred any liens on the property.
- Riders are amendments to the
sales contract that affect your rights. For example, if
you buy a condominium, you may have a rider outline the
condo association's rules and restrictions.
- Insurance policies provide a
record and proof of your coverage.
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Tips for Packing Like a
Pro |
1. Develop a master
"to do" list so you won't forget something critical.
2. Sort and get rid of things you no longer want or
need. Have a garage sale, donate to a charity, or
recycle.
3. Don't throw out everything. If your inclination is
to just toss it, ask yourself how frequently you use
an item and how you'd feel if you no longer had it.
4. Pack like items together. Put toys with toys,
kitchen utensils with kitchen utensils.
5. Decide what if anything you plan to move yourself.
Precious items such as family photos, valuable
breakables, or must-haves during the move should
probably stay with you.
6. Use the right box for the item. Loose items
encourage breakage.
7. Put heavy items in small boxes so they're easier to
lift. Keep weight under 50 lbs. if possible.
8. Don't over-pack boxes and increase the chances they
will break.
9. Wrap every fragile item separately and pad bottom
and sides of boxes.
10. Label every box on all sides. You never know how
they'll be stacked and you don't want to have to move
other boxes aside to find out what's there.
11. Use color-coded labels to indicate which room each
item should go in. Color-code a floor plan for your
new house to help movers.
12. Keep your moving documents together, including
phone numbers, driver's name and van number. Also keep
your address book handy.
13. Back up your computer files before moving your
computer.
14. Inspect each box and all furniture for damage as
soon as it arrives.
15. Remember, most movers won't take plants.
To estimate your moving costs, use
this calculator courtesy of REALTOR.com
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