1. Obtain legal counsel to prepare and negotiate the Purchase and Sale Agreement.  Your Attorney will advise you on any problems, issues or extensions that may arise between the signing of the Agreement and the closing.  Legal counsel will attend closing with you and review the Certification of Title, Deed, Settlement Statement, Note, Mortgage and ancillary closing documents.  The fee for Buyer representation starts at $350.00.

2. Home Inspections are to be performed within a time frame noted on the Offer to Purchase and are at the Buyer’s expense.  It is recommend that the Buyers also consider testing for radon gas, wood boring insects and lead paint (if built prior to 1978).  If the premises are serviced by a private well, a well test for quantity and quality is also recommended and may be required by your lender (Estimated cost is $250.00). 

3. Closing costs may include the following: application fee, credit report, appraisal fee, processing fee, points, bank attorney fee, etc… for a more complete itemization please refer the “Good Faith Estimate” which is provided tlendero you by your .
   • Recording fees payable to the Registry of Deeds for the Deed, Mortgage and Municipal Liens Certificate are approximately $365.00 and will be collected at closing.
   • Prepaid interest (interest from the day of closing through the end of that month) will be collected at the closing.
   • A fee for a Mortgage Inspection Plot Plan is approximately $150.00 and will be collected closing.
   • Points (each point is 1% of the mortgage amount) and if applicable will be collected at closing or prepaid during the loan process.
   • Lender’s Title Insurance is required by your Lender and costs $2.50 per thousand of your loan amount and will be collected at closing.  You may also want to simultaneously purchase an Owner’s Title Insurance Policy with the required lender’s policy. This will protect your ownership interest in the property against many types of title problems for as long as you own the property.  The amount of the additional premium varies with the purchase price of the property.  As a matter of practice, Owner’s Title Insurance premiums will be included on your Settlement Statement.  If you do not want Owner’s Title Insurance coverage or require further explanation, please discuss this with your attorney

4. Adjustment for taxes, fuel and rents, if applicable will be completed at closing.

5. A Homeowner’s insurance policy must be purchased and prepaid for one year.  A paid receipt and Binder must be provided to the Lender’s Attorney prior to the closing.

6. Prior to closing, contact applicable utilities to continue service and transfer into your name.  Your realtor can assist you with this.

7. Calendar your Mortgage Financing Contingency date and make sure you have a written commitment from your lender with only conditions that you can reasonably satisfy.  If this is not the case then you need to contact your attorney or realtor about getting extensions.

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