The escrow closing is an important event in the lives of all the parties. If you are the Seller, you have your proceeds check and are on your way to another home. If you are the Buyer, you have the keys to your new home and are busy with the many details of moving. The process to get there has been lengthy and time consuming, but you can take comfort in knowing that what comes next is far simpler than the process up to this point.
Here is a quick list of things to take care of once you know that home is yours!
Meet the Neighbors
When a new homeowner moves into a neighborhood the surrounding neighbors are usually curious to meet the new owners. After closing on a new home, get out and meet your neighbors!
Not only is meeting the neighbors the “neighborly” thing to do, it’s also a good opportunity to exchange contact information with them just in the event of an emergency. Homes with security systems can be secure, however, sometimes the best security for a home are the surrounding neighbors!
Change the Locks
You have no way of knowing how many strangers have keys to your new home, given to them by the previous owner. Call a locksmith pronto and get those locks changed.
A locksmith can install a deadbolt if your door is missing one. Most mobile locksmiths charge between $50 and $100 to make a home visit, plus extra for the keys.
Change Your Address
This seems like a no brainer but is often put on the back burner for new homeowners or those finding a new home. The United State Postal Service is kind enough to offer mail-forwarding service for a certain period.
Go the extra step and log in to any accounts you may have with subscriptions, delivery services, and Amazon to make sure your address if officially changed on your profile.
Update Your Driver’s License
This is a law and unfortunately, many people neglect to obey it. The DMV in almost every state is a hassle but your ID becomes invalid after 30 days (in most cases) of an address change. This step is especially important when it comes time to vote or travel by air.
Check With Your Auto Insurance
Insurance companies change their rates based on where you live. Many states require your insurance to be from a company that is based in your new state, so if you have moved out of state, be sure to update your policy.
Notify the Utility Companies
You will likely want water, power, and sewer services at your new home. Cable and telephone may be important to you, as well. Once you have officially closed escrow, contact these entities to alert them of your ownership.
Alert Important People & Companies About Your Move
After closing on a new home, another important task to complete relatively quickly is alerting important people and companies about your new home. Below are a few of the other important people and/or companies to alert of a new address.
- Friend and relatives
- Work
- Financial institutions
- Insurance companies
- Phone, internet, and cable companies
- Schools
- Medical offices – dentist, physician, etc…
- Accountant
- Church
- Newspaper subscriptions
What Happens at Citrus Heritage Escrow?
During the escrow period, our title department begins researching and examining all historical records pertaining to the subject property. Barring any unusual circumstances, a commitment for title insurance is issued, indicating a clear title or listing any items which must be cleared prior to closing. The commitment is sent to you for review.
Your escrow officer follows instructions on your contract, coordinates deadlines, and gathers all necessary paperwork. For example, written requests for payoff information (called “demands”) are sent to the Seller’s mortgage company and any other lien holders.
When choosing an escrow company there can be many important factors to evaluate. Fees, location, staff and even recommendations from friends and colleagues are all things to consider. With Citrus Heritage Escrow by your side, you can rest assured that when you receive your settlement check, you’ve gained the maximum benefit from your home sale or purchase.
Call us today with any questions or concerns. Our professional Escrow Agents will help you through this exciting yet confusing process. (951) 335-7200