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Realty Complete Buying a Home |
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Working
Towards Settlement Settlement normally takes place about two months after the
sales contract is ratified, although there are many exceptions to this. New homes can take longer because of the time
needed for construction. It is also
possible with advances in technology that the loan approval could be
accomplished more quickly, allowing for settlement to occur sooner. The settlement process varies from state to state, so your
real estate agent should keep you informed as to when things will happen and
when you should be doing things.
There are some things that you yourself might have to take care of,
for example, obtaining insurance coverage for the new home before you go to
settlement. You should also make
sure you know what monies you are going to need to bring with you to
settlement, and how that money must be paid.
You will probably need a certified check to cover most or all of the
settlement costs. Title companies
will probably not accept a personal check for a large amount of money. |