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55+ Community: Why You Should Move Now and Not Later
Financing Your New Cornerstone Home
Welcome to the most exciting days of your life — sit back, relax, and enjoy the beautiful ride! Finally, you have endless freedom to enjoy everything you love, in a home and community that embraces your way of being, with neighbors who love them too. Come hear the clink of wine glasses, smell the fresh produce in the gardens, feel the warmth of the sun, and join in on the endless laughter. There’s so much to love… so let’s get started!
Before you make your transition, there are a few things for you to take care of to make the move-in process as easy as possible, including communicating with your settlement agency/mortgage company on a few key financing steps. Here’s what to take care of before you begin your exciting journey in a 55+ community in Virginia:
Your Home Financing Reminders and To-Do List
When it comes to planning your exciting move, we know that a clear-cut schedule is important to you — that’s why we specify an estimated delivery date! This typically happens at the point when external factors won’t impact the completion of your home, usually around 30 days before closing. Until then, make sure that your mortgage company/settlement agency is ready to provide the funds you need to close on the appointed date.
Date of Closing
The closing or settlement takes place shortly after your New Home Orientation. We will coordinate your closing with the settlement company. We will notify you in advance of the time, date, and location. Typically, the closing process takes from 45 minutes to an hour.
Closings and title insurance are handled by our preferred Title Company, Safe Harbor Title Company. Safe Harbor offers attractive pricing and outstanding service. We highly recommend using Safe Harbor for a seamless closing.
• Melissa Canovas, Residential Settlement Officer 804-282-2329 firstname.lastname@example.org
• Safe Harbor Title Company 4900 Augusta Avenue, Suite 150, Richmond, VA 23230
At closing, the documents necessary to convey your new home to you and, if applicable, to fund the loan from your mortgage company, will be executed and delivered directly to the closing company. In addition to these standard items, the lender, title company, and builder may require other documents to be signed. Your communication with our closing coordinator and your settlement agency will provide you with information as your closing date approaches.
The amount of funds necessary to close will be provided to you by the settlement company and will be available within a day or two prior to the actual closing.
Plan to bring cash or certified funds (the closing company will give you instructions regarding the payee) to the closing table. In your planning, be sure to allow time to arrange for and obtain these funds. In addition, please keep the following items in mind:
• Documents: The Real Estate Settlement Procedures Act (RESPA) provides you with many protections. Under this law, you can review the settlement page that lists costs you are paying at closing one day before the closing appointment.
• Insurance: If you are obtaining financing, your lender will need proof of a homeowners policy from your insurance company. Your agent should be able to provide exactly what is needed. If you are paying cash do not forget this important safeguard which will not be required by anyone involved in the closing. We suggest you arrange for this at least three weeks before the expected closing date.
• Mortgage Lender Requirements: (If you are financing) Prior to funding your mortgage loan, your lender will order a final inspection from the appraiser. Funding of your loan is subject to confirmation from the appraiser that the home is complete. We suggest that you contact your lender a few weeks prior to closing to make sure all the paperwork has been completed and that the lender is ready to fund subject to final inspection.
• Utilities: Cornerstone Homes will have utility service removed from its name on the first business day following closing. You will need to notify all applicable utility companies of your move so that service is provided in your name. We suggest that you contact these companies well ahead of time to avoid any interruption in service.
At Cornerstone Homes, we strive to make your move as seamless as can be — so that you can start enjoying the good life as soon as possible! Get ready to make the best connections of your life. For more information about our homes and communities throughout Virginia, please call 804-215-0766.