Once the inspection issues have been resolved and the appraisal is in, buyers look forward to closing day especially if they have been waiting on an approval of a short sale for many months. Below, are a few additional items to take note of prior to closing:
1.) Set up utilities – You can wait until the day of closing to call the utility company but setting up service in advance, a day or two prior to closing, is a good idea. For many buyers, a single call to Colorado Springs Utilities to set up service for a residence is all that is required. There are other properties in Colorado Springs that are serviced by more than one utility company. Find out which utility company provides electricity, gas, and water for the property because the owner may have up to three separate providers. For example, in Claremont Ranch, home owners pay their electric bill to Mountain View Electric, their water bill to Cherokee Metro District, and their gas bill to Colorado Springs Utilities.
2.) Change your address- This can be performed online for a minimal fee or you can physically go into the post office to change your address. Don’t forget to call credit card companies, magazine subscriptions, etc… If mail is picked up at a community mailbox, don’t forget to ask the seller for the mailbox number at closing.
3.) Don’t make any large purchases– You may be tempted to buy furniture, appliances, or other expensive items but big purchases before closing could be detrimental to your credit score and ability to obtain a mortgage loan. If you plan on making a large purchase, speak with your lender first.
4.) Trash– Unless the HOA covers trash pick up, you will need to choose a trash company. Take time to make a few calls to compare pricing and recycle pick up.
5.) Re-key a foreclosure – If you are buying a short sale or a bank owned property, re-keying the locks and code to the garage door opener is a good idea. You never know who may have keys to the home so changing the locks is a good idea.
6.) Paint– Find out if the sellers have leftover paint for the interior or exterior and ask where they will be leaving it in the home.
7.) Codes– This detail is often forgotten. Obtain codes for the security system or keypad that opens the garage door.
8.) Walk-through– Prior to closing, walk through the property with your Colorado Springs Realtor to make sure the home is left in good condition and double check that the inclusions are still in the home (e.g. washer/dryer).
9.) Moving – Interview moving companies and hire a reputable mover to assist you on closing day.
10.) Certified Funds– You will need to get a check from your bank for the day of closing. Your lender will inform you of exactly how much money you need to bring to closing.
Contact me about buying a home in Colorado Springs at 719-660-9058
Buying a home in Colorado Springs – The Walk-through