Bookshelves, drapes, custom lighting fixtures, fireplace screens, garden ornaments, outdoor barbecues and backyard play equipment are among the items that the seller will likely remove unless otherwise specified. The parties should resolve these details when they first sign the sales contract. A final walk-through can end in havoc if a buyer wrongly assumes that the dining room chandelier comes with the house. Other issues that should be agreed upon in advance include accurate information on real estate taxes, survey fees, possession date and homeowner's insurance. Satisfy loan conditions before closing Be sure to satisfy any conditions attached to a loan approval before the closing.
Banks sometimes issue a preliminary approval pending the various credit, debt and resource checks.
An unresolved late payment on a credit report could forestall the loan approval and delay the closing. Typically, title companies require certified or cashier's checks, rather than personal checks, for any additional costs that may be due at the closing. An unprepared buyer might have to run to the bank to cash or certify a personal check, midclosing. If the seller refuses to wait, both sides may sign all the documents and then delay the closing. Then the buyer can later produce the funds and take possession of the deed without assembling the other participants.