Did you celebrate? Great! Now what?
Here are the six things you need to do between now and possession:
1) Pick a Lawyer
If you haven’t already, you need to get lawyer info to your agent ASAP. Your agent’s brokerage will need to send over a package with all the paperwork and conveyancing instructions (what money goes where) so that the lawyer can line things up on their end. If you don’t know who to use, ask your agent for recommendations.
2) Arrange Home Insurance
You’ll need something called an insurance Binder Letter (a short document that serves as a temporary insurance policy) for your lawyer appointment in order for your mortgage company to send over the money for the deal. Make sure you get that organized early so you aren’t scrambling at the last minute. Have the policy active as of possession day.
3) Arrange set-up of utilities and services
You’ll need to hook up electricity, gas, water/sewer, etc. Most of these won’t require access to the house, so book them to start on possession day. If you want to set up cable or security or something that requires access to the house, don’t book it for possession day. Often you won’t get the keys to your new place until the afternoon and if there are any delays, the last thing you want is people waiting at a door they can’t get in.
4) Arrange for moving companies or rental trucks
If you are planning to get help with moving or need to rent a moving van, make sure to line that up in advance. Again, ideally for the day following possession to ensure you have access to the house.
5) Make sure you have a lawyer appointment/meet the lawyer
You’ll need to meet with the lawyer about a week in advance of possession to take in the remainder of your down payment money and to sign off on a bunch of paperwork that will allow them to register your mortgage, transfer title, and do anything else that your specific deal requires them to do. Many law offices will call you to set something up, but if you’re two weeks out and haven’t heard from them, a good rule of thumb is to call and set something up.
6) Keep in touch with your Realtor®
If you have questions during this phase, we are still here for you. At SoldYEG we actually have a system around client check-ins between condition removal and possession, but if you’re not with us or happen to have questions outside of those check-ins, call!
Other than that… this is the time to get packing!