Buyer’s Guide to Contract to Closing

 


New Contract | Inspection Period | Financing | Preparing to Close | After Closing


A few things that you should know about now that we are in the contract to closing period…….

 

First and foremost, we are always here to support you. If you ever have any questions or concerns feel free to get in contact with us and we will do our very best to ensure a smooth and successful transaction.

 

Dotloop is our document and e-signature software. We will use this to send you any documents that need to be signed or filled out. Once you create an account you will be able to access all of your documents at your convenience. We prefer to use Dotloop as our primary method of document sharing, however, you are welcome to scan or fax us documents at any time.

 

No two contracts are the same, however, a typical contract tends to follow the following format.

  • New Contract – As soon as a contract is binding we will get the ball rolling by providing you with a slew of resources to inspect your new home, assist you with getting your financing started.
  • Inspection – If your contract includes a due diligence period you will you will have the opportunity to use this period of time to carefully assess your future home and request repairs if needed.
  • Clear to Close – If your new home is being financed, this is the time that the lender will review and underwrite your loan application.
  •  Then we wait…there is often quite some time between the inspection period and the clear to close OR the clear to close to the actual closing date. We’ll keep in contact with all parties , but this is a good time to plan for the big move.
  •  Closing – All the moving parts for your transaction converge at closing. A couple of days before closing we’ll do a final walk-through of your new home & you’ll receive a complete account of all of the monetary figures from the closing attorney and your lender. When you leave closing you’ll be a new home owner!