Step
7. Buyer appraisals and other details
The mortgage lender will order an appraisal of your home to make sure they are
not paying more than the house is worth. They may also order a surveyor to make
sure that the property boundaries are properly laid out. They will also order
a title search to determine if there are any liens against your property. These
tasks are all the responsibility of the buyer and/or their attorney.
At this
point too, the mortgage company will issue a commitment. Again,
the buyer and their attorney must complete all conditions listed
on the mortgage commitment.
Prior
to closing, you should notify your lender that you will be paying
off your mortgage. After a closing date has been agreed to, you
should contact your utility providers and advise them of your
final billing date.