The Home Stretch

Looking to sell your home in Middle Tennessee? Give us a call at 615-933-1000 to get started!

You’ve signed a contract with the seller and the “for sale” sign on your soon-to-be home has an added “under contract,” on it. But before you take the big relieved, it’s-all-over exhale, there are a few more items that still need your attention. A good agent will help you sail through this period, usually between 30-60 days after the property is under contract. This is good news because there is a strict timeline to follow and slacking off is not on it!

You’ve probably been pre-approved for a loan; now it’s time to apply for it. The lender will ask you to provide lots of official tax and financial papers, so dig those up and fork them over.

The bank will hire an appraiser to visit the home you are buying and determine its worth. This way, they know they aren’t lending you more money than they can sell the property for. Losing money is generally bad for a business.

A title company will do a title search on the property to check for any existing legal claims on it, such as a lien. If any exist, the seller will pay the party what they owe before the deed is transferred. The title company will also get a copy of the land survey to make sure the property lines are as expected and the neighbors haven’t started inching over into your yard.  If the sale includes a home warranty, the title company will purchase it for you and bill the seller.

You will hire an inspector (your agent will recommend one whose work they trust) to inspect the property you are buying. The inspector is responsible for finding any problems with the home, especially major issues with the foundation, HVAC, plumbing and electrical. A house always has a list of items that need to be fixed, some bigger than others, however, don’t expect the seller to fix every item. Your agent will guide you and help determine the repairs that need to be made before closing, and negotiate with the seller, if necessary.

It is mandatory to have home insurance on your new home, which you will be happy about if and when you need it. Insurance is factored into your mortgage payment. The money is taken out each month and put into an escrow account that will be used to pay annual taxes (did you think you had somehow gotten around those? Good try) and fees.

Do a final walk through of the property about 48 hours before closing. This assures you that everything looks good and you will be able to sleep the night before closing.

Call the seller’s current utility providers (the listing agent will be able to provide these) and arrange to have utilities like electricity, gas, water, cable, internet, phone, etc., turned on when you move into the home. It’s hard to unpack in the dark, ya know?

If all the steps between signing a contract and closing are taken care of properly, all will go smoothly at closing.

Congratulations! You are the owner of some new digs!


Living TN is hiring! Request information or give us a call at 615-933-1000.