Responsibilities You Have When Buying A House

Posted on: 26 June 2017

Buying a house is not always the easiest task in the world, and both the seller and the buyer have responsibilities they must complete in order for the deal to go through. As the buyer, you will have a lot of different things to do before you close on the house, and it's important you get these things completed to avoid problems at closing. Here are some of the top things you, the buyer, will need to accomplish.

Finalize your mortgage

Working with your lender to finalize the mortgage you will need to buy the house is one of the top priorities you should focus on before closing. Without the loan, you will not be able to purchase the house. Work with your lender to make sure they have all the information and documents they need to get the loan work completed by the date of your closing.

Get inspections completed

During the purchase of a house, there are typically inspections that must be completed. Some of these might be mandatory, while others might be optional. As the buyer, you will have the responsibility of making sure they get done. This may include making phone calls to inspectors and following through to obtain the reports they create after completing the inspections.

Buy homeowner's insurance

You will not be able to close on the house you are buying if you show up to the closing appointment without proof that you purchased a homeowner's insurance policy on the house. This is a necessity and requirement all lenders have, so make sure you call an insurance company several weeks before closing to get the policy you need on the house.

Get a check for the closing

You will also not be able to close on the house if you forget to bring a check to the closing appointment. The title company will let you know how much the check should be for and who to make it out to, but it is your responsibility to get the check and bring it with you.

Contact all the utility companies

Finally, you will need to call all the utility companies necessary before closing to get them turned on. This may require just one phone call, or it may require multiple calls. If you do this several weeks before closing, you can be certain you will have all the utilities you need when you move in.

These tasks take time, which is why you should start on them soon after the seller accepts your offer. If you have additional questions about your responsibilities, talk to the real estate agent you are working with.