| 12. After The Closing HUD-1 Settlement Statement Paperwork to Keep Change the Locks Internet Change-of-Address Service If Your Agent Did a Good Job HUD-1 Settlement Statement As discussed elsewhere, at the end of the closing, the title agent will issue a settlement statement referred to as the HUD-1. If somehow you have not reviewed this statement up to this point then do so now to be sure all charges and credits are correct. This itemized statement shows all of the charges and closing costs that you paid as well as any credits you received. Your agent will also receive a copy of the HUD-1. If you have any questions ask your agent or the title agent to go over the statement with you. Paperwork to Keep Make sure you keep a complete file of all of the closing documents, real estate contracts and loan documents. Your accountant will need your HUD-1 statement when preparing your taxes. Some of the closing costs and pre-paid interest are tax deductible. Change the Locks I always recommend that my buyers change all locks immediately upon gaining possession of the property. You don't how many keys are floating around and who has them. This is also a good time to consider checking window and sliding glass door locks. You'll have greater peace of mind knowing that all your locks are changed and that all points of entry to the house or condo are secured. Internet Change-of-Address Service Don't forget to notify everyone of your new address. A great web-based change-of-address service is AddressCorrection.com. This is a great service I found on the internet. This site will take care of notifying companies and individuals of your new address when you move. They have an extensive database of companies, organizations, and government offices that you can pick from. You can reach their web site at: http://www.addresscorrection.com/default.asp Good luck! If Your Agent Did a Good Job Did your agent perform well? Did he or she go the extra mile? I hope so. Most real estate professionals are dedicated hardworking individuals. We appreciate a kind word and a pat on the back. However, what we really appreciate is referrals from our satisfied clients. Remember to pass on your agent's name and phone number (and web site address) to other friends or family members who are thinking about buying or selling real estate. There is nothing so gratifying as receiving a call from someone who says, "My friends bought a home through you and they highly recommend you. Can you help me find a home?" |