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What's next
Whether you're a first-time home buyer or a repeat buyer, there are a few more steps you'll want to take.
Those papers you received at closing are extremely valuable, so hold on to them! In the short-term they can help establish tax deductions for the year in which the property was purchased. In the future, they can be important for tax purposes when the property is sold, and in some cases, for calculating estate taxes.
Also at closing, determine the status of any utilities required by the home, items such as water, sewage, gas, and electric service. You want utility bills to be paid in full by owners as of closing and you also want services transferred to your name for billing. Usually such transfers can be done without turning off utilities. your realtor can provide contact numbers and related information.
A few weeks after closing, contact your local property records office and confirm that your deed has been officially recorded. Such records are public notices that show your interest in the property. |
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Moving in
It is generally understood that sellers will leave homes "clean" when moving out. This expression does not mean "perfect" or "spotless." Clean makes sense because it means the house is in good shape and ready to be moved in. |
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Your home, your money
For most owners a home is the largest single purchase they will make, so it makes sense to protect that asset.
Many home owners make a photo or video record of the home and their important possessions for insurance purposes and then keep the records in a safety deposit box. Your insurance carrier can recommend what to photograph and how to secure it.
You want to maintain fire, theft and liability insurance. As the value of your property increases such coverage should also rise. Again, speak with your insurance professional for more details.
Lastly, enjoy your new home. Buying real estate involves contracts, loans, and taxes, but ultimately what's most important is that homeownership should be a wonderful experience. |
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Still shopping for your home? Find a Lender Here! |
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