The Home Stretch

In order to close on time, you'll need to pay attention to tasks and deadlines in the weeks prior to your closing date. Scroll down to learn more about:

  • The mortgage commitment
  • Moving preparations
  • Final walkthrough
  • The Closing


Mortgage Commitment

  • The mortgage commitment is the final hurdle to buying your home. The mortgage commitment date is the only contingency from the original offer that is continued into the Purchase and Sale agreement.
  • This date marks a point of no return for the funds you have in escrow toward the purchase of the property.
  • Therefore it is imperative that you obtain a full mortgage commitment by that date. Otherwise, you must either apply for an extension to extend the date or withdraw from the transaction and work to get your deposit back.
  • The mortgage commitment date is your last chance to withdraw provided that financing as outlined in the offer is not obtained.

Moving Preparations

You will need to set up service to your new home including cable, phone, gas and/or electric, change of address, etc. Your agent is a good resource for contact information. Also, check out our Moving Tips to stay on target for a hassle-free move.


Final Walkthrough

This is your last chance to check the condition of the property before the purchase. The final inspection is usually arranged through the agents. If the condition of the property is significantly different or if promises have not been kept, you should speak with your lawyer to plan your next course of action.

The Closing

Closing the sale can take 30-60 days (or longer) after the offer, a length of time necessary for a number of critical legal requirements to be met, including:

  • Clearing the title
  • Recording the deed
  • Approving loan applications
  • Allowing the lender to make a property appraisal

The bank’s attorney is responsible for conducting the closing and creating the necessary financial documents.

At the closing, the seller completes the transfer of the property to the buyer. All parties meet either at the Registry of Deeds for the county in which the property is located, at the bank’s attorney’s office, or at the real estate office. Attending the closing will be the Buyers, the Sellers, the bank’s attorney, the Buyer’s attorney (if you choose to have them there), the Seller’s attorney (if the seller chooses to have them there), and the real estate agents.


Work With Us

With their complementary communication styles, responsiveness, competence, and ability to truly listen, Ellie and Liz enable their clients to feel at ease throughout any real estate transaction. They would welcome the opportunity to be your next real estate advisors.

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