Things to note before handing over a house

Things you should pay attention to before handing over your house (Alberta Times) After your house purchase contract is established, what should you pay attention to while waiting for the house to be handed over? The following points are required...

(Alberta Times)

After your house purchase contract is established, what should you pay attention to while waiting for the handover of the house? There are the following points that need to be noted. The most important thing is to maintain your loan qualifications. Usually, before handing over a house, the bank will check your credit report again to see if you still meet the loan conditions and whether your credit score has dropped to the point where you do not meet the loan standards. Avoid doing things that will lower your credit score, such as taking out a car loan, increasing your credit card debt too much, applying for other loans, etc. These actions will lower your credit score and cause the bank to change loan conditions or even not provide a loan. Next, don’t forget to notify the relevant units that you are moving and will have a new address, such as: magazine and newspaper companies, telephone companies, water and electricity companies, banks, credit card companies, etc. Ask them to change your file information to the new address. Also remember to apply for mail forwarding service from the post office. Go to the post office or the post office website (www.usps.com) to fill out the application form. You can specify the month and date from the post office that someone’s mail will be forwarded. If sent to a certain address, this service is free and the post office will forward the mail for one year. You also need to prepare the down payment for purchasing a house. Usually on the day you sign the contract and hand over the house, you must deposit the down payment and other house closing costs into the escrow account (Escrow) in the form of a bank certified check (Cashier’s Check) or bank wire transfer (Wire Transfer), so remember to go to the bank before signing the contract and handing over the house. Finally, before handing over the house, you need to do a final inspection of the house you purchased. Go through it from top to bottom to see if all the equipment is functioning properly, such as power sockets, water and electricity switches, household appliances, etc. If you are buying a new house, write down the things that have not been completed or need to be repaired. Agree on the date for completion or repair first, and ask the builder's representative to sign. If you are buying a second-hand house, you must Make sure that everything you agreed to fix and clean has been completed, and that everything you agreed to keep and included in the purchase contract is still there. The above briefly explains what you should pay attention to before handing over a house. If you have any questions about real estate, you are very welcome to call my hotline (480) 612-4545 or email to Rich@RichLiao.com