Can you give me an overview of things I should know when buying a home?

Question:

“Last time we bought a home, the agent didn’t explain anything or give us any guidance. Can you give me an overview of things I should know?”

Answer:

There’s a lot to know, but here are some basics and smart tips not everyone thinks about:

1. Upon acceptance:
   • Get your deposit into escrow within 3 days (or whatever timeframe your contract says).
   • Schedule your home inspection ASAP.
   • Get your loan going ASAP.
   • Call your insurance agent to get your insurance started.
2. Just prior to closing:
   • Arrange to transfer your down payment $ to escrow.
   • Schedule your final walk-through inspection.
   • Call in advance to get your utilities on.
   • Remember, if escrow doesn’t close on time, it’s not your home to move into yet.
3. After Closing:
   1. Change the locks (who knows who has a key!)
   2. Possibly clean the carpets.
   3. Find your water shutoff and breaker box.
   4. Ignore scam letters telling you to pay money for your deed. You’ll get the deed via mail in a few weeks.