Contract to Close

Key Dates:

Make sure to note your option period and closing date. During the option period, you can terminate the contract for any reason and receive your earnest money back.

Your Team:

Your main points of contact will be your North Texas Finest Homes agent, your lender, and your escrow officer. Feel free to reach out to your agent with any questions or concerns along the way.

Seller’s Disclosure Notice:

Review and sign the Seller’s Disclosure Notice. This document outlines any repairs the seller has completed and any issues they are aware of with the property.

Inspections:

We’ll schedule your home inspection as soon as possible. During this inspection, the inspector will evaluate the property for any deficiencies. It’s a great idea to attend the inspection walk-through so you can fully understand the condition of the home. Based on the inspection, we might negotiate an amendment to address repairs or offer credits.

Appraisal & Underwriting:

We will notify your lender to order the appraisal and start the underwriting process. The appraisal ensures the property’s value matches the agreed-upon price, protecting your investment.

Survey:

If a survey is required, we will receive it within 3-5 days or order a new one if necessary. You have the opportunity to object to any issues that appear on the survey.

Homeowner’s Association (HOA):

If your home is part of a mandatory Homeowner’s Association, we will receive the HOA documents within 5-10 days after signing the contract. You have five days to review these and raise any objections.

Homeowner’s Insurance:

You’ll need to secure homeowner’s insurance before closing. We can recommend trusted agents or you can check with your current insurance provider.

Title Commitment:

Prior to closing, we will receive a title commitment. This ensures the seller can pass clear title, which guarantees that you own the home free of any liens or disputes.

Preparing for Closing:

We will schedule a convenient closing date and time. If you’re unable to attend in person, we can arrange for remote closing options. Make sure to switch the utilities to your name for the closing day, so you have access to water and electricity as soon as you take possession.

Settlement Statement:

2-3 days before closing, we’ll receive the settlement statement. This document breaks down the final costs, which should closely match the Good Faith Estimate provided by your lender. If you would like to review all documents prior to closing, just let us know.

Final Walk-Through:

We will schedule a final walk-through of the property either the day before or the day of closing to ensure the home is in the agreed-upon condition.

Closing Day:

Closings usually take about an hour at the title company. Bring your driver’s license and either a cashier’s check or wire the necessary funds to the title company beforehand. If you can’t attend the closing, let us know as soon as possible so we can arrange a remote closing or set up a Power of Attorney.

After Closing:

Once everything is signed and the property is funded, you’ll receive the keys to your new home (typically 2-3 hours after the last party signs). At this point, you can officially move in and start enjoying your new space!

We’re here to support you throughout the entire contract-to-close process and beyond. Don’t hesitate to contact us with any questions!