buying your home
Before You Close On Your Home
Once your loan has been approved and a commitment letter accepted, a closing date is set for transferring the home to you. Prior to this date, your lender will require a title search to make sure there are no liens or encumbrances on the property. Before closing, what else are you expected to do?
Hire a company to clean out any garbage or debris in the home.
Place extra earnest money in the escrow account, to cover any mortgage payments you may miss the first year.
Obtain title insurance as further protection against ownership problems.
If you guessed "C", you're right. Shortly before closing, your contract may authorize you to make a last-minute inspection of the home. This is known as the "final walkthrough".