You just went under agreement....
What The Heck Do You Do Next??
Here is the scoop:
We are going to need to order title insurance for your purchase. We have an in-house title company we work with so that everything can be done and kept track of right here in our office. In Pennsylvania, title insurance rates are regulated by the state so there is not much reason to "shop around" (in my opinion). So we will order title for you...unless you ask us not to in a timely manner.
You will need to meet your mortgage commitment date per the agreement of sale so the sooner you get working on this, the better. Our on-site mortgage company is fantastic...Jason, Mike, and Laura. Again, being able to keep track of everything and having our mortgage dude here for your settlement to go over all your mortgage papers at the table will make things run much smoother. Side note - no matter which lender you choose, you will be faxing and scanning and re-faxing more paperwork than you even knew existed.....underwriters have really cracked down since the predatory lending/market crash fiasco a few years back so they will verify your information over and over again. There is no getting out of this no matter which mortgage company you choose so just keep all your important papers together and hand them over when asked. You might want to call our mortgage dude to get a quote- Jason at 215.440.2073
You will need to schedule a home inspection. We recommend Brad from Smart Moves but you are free to choose any home inspector you like. You have 10-15 days (depending on the agreement of sale terms) to ask the seller to make repairs or give you a credit for any issues that may arise from the home inspection, so you want to schedule this ASAP.
Smart Moves Home Inspections, LLC - 215.794.2813 Brad Lang
Your second deposit will be due 10-15 days after the agreement of sale is fully executed. We will send you an email to remind you to send us a check (or wire). If settlement is less than 30 days away, this will have to be in the form of a bank or cashier's check.
If you are purchasing a condo, you will receive the condo docs and resale certificate about 3 to 4 weeks after going under contract. READ THESE! It is important to find out the rules and regs and a hint of insight into the building where you are purchasing a condo. You have 5 days to review these documents. This is a good time to speak to a homeowner's insurance rep. We also have one of those on-site. Jim Lavin (firstname.lastname@example.org 215.440.2047) can help you shop around for the best rates.
The countdown to closing is on..
We'll want to pick a time that is good for closing during business hours and schedule your settlement ASAP. 3-5 days prior to closing, you will receive an estimated HUD-1 Settlement Statement from the title company letting you know how much money you will need to bring to closing. This will need to be a wire or cashier's or bank check. And bring your ID.