Now that you have found the right fit, here are the things you need to know to make the home buying process a smooth one.

Inspection:
The home inspection is conducted by a licensed home inspector. It gives you a chance to find everything out about the property. Additional services (i.e. termite inspections, radon testing, etc.) can be elected at the time of the inspection.

Second Deposit:
The second deposit typically is due 10-14 days after the AOS is executed. This usually
occurs at the end of the home inspection period and often signals the point in the
transaction where the buyer demonstrates their solid commitment to move forward with
the purchase.

Title Insurance:
The title company will conduct a search to guarantee that the property is clear of all
liens, encumbrances or other title problems. They also conduct settlement, disperse
funds and record the title documents. We recommend Citywide Closing Services
because we have a working relationship with them, which will make closing go as
smoothly as possible.

Homeowner’s Insurance:
You must purchase a policy and bring the policy and/or proof of the purchase to
settlement.

Transfer Utilities:
Within the city limits of Philadelphia, water will be transferred automatically at
settlement. Contact information for several local utility companies is listed below. You
may also use the handy widget in the sidebar.

PECO: 800.494.4000
PGW: 215.235.2050
VERIZON: 800.640.4155
COMCAST: 800-COMCAST

Pre-Settlement Walk-Through
This gives you a chance to view the property prior to closing and typically occurs the day of settlement.

Settlement:
All buyers MUST be present for the settlement or must assign a Power of Attorney.

At Settlement, the Buyer signs the loan documents and the Seller signs the deed and title affidavits. The Seller receives the proceeds from the sale and conveys the title to the Buyer.

The Buyer is given a copy of the executed deed, the title report, copies of all of the
closing documents, and keys to the property.

CONGRATULATIONS ON YOUR PURCHASE!