Post-Closing Tips for Homebuyers

source: https://www.bestcoastdevelopers.com/post-closing-tips-for-homebuyers/

As a home buyer, your main interaction with the escrow and title companies happens prior to closing. However, their documents may be important post-close. Here are some helpful tips to follow after you pick up the keys to your new dream home. 1) Keep copies of your closing documents. Sounds obvious, yet buyers are constantly losing, misplacing or throwing out the documents. You will need your documents to do your taxes and they may come in handy when you find a need to review the terms of your transaction. 2) Keep the owner’s title insurance policy in a safe place. Your title company can give you an electronic copy or a hard copy, whichever you prefer. 3) Read your real estate property tax bills. Make sure that any exemptions (Homestead, Senior Citizen, etc.) are reflected on the bill. Even if a homestead is filed with the deed, the tax office may fail to apply the proper credits or exemptions. 4) Make sure you know when your property tax bills are due. Just because you didn’t receive the bill does not excuse you from paying the tax. You can often pay these bills online. If you purchase multiple lots, ensure all real estate property bills are being paid. 5) If your taxes are paid through a mortgage escrow account, confirm lender is making payments. This is especially important after your first tax bill. You can typically view escrow payments on your mortgage lender’s website. Simple steps to manage and protect your home investment.