What happens after I sign a Purchase and Sale Agreement on a new home with Lewis Builders, and what steps do I need to take next?
What to expect and how to prepare between signing your purchase agreement and closing.
What to Expect After Signing Your Purchase & Sales Agreement
Congratulations on being one giant step closer to the closing table! Even though you may not hear from us regularly during certain stages of construction, there is a great deal happening behind the scenes to ensure your home is built to both your expectations and ours.
Below are some important things to keep in mind while your home is being completed.
Stay in Communication With Your Lender (If Financing)
If you are financing your home purchase, it is important to remain in regular contact with your lender to ensure they have all the documentation needed to move your loan toward approval.
If your lender requires any documentation, questionnaires, or information from the seller, they should contact the seller’s legal representative or designated closing contact provided by your sales team.
If there are any changes to your financing situation — such as changing lenders, switching from cash to financing, or removing or modifying any contingencies in your Purchase & Sales Agreement — please notify your sales consultant immediately. Changes to financing or contract terms can affect your purchase agreement.
Selecting a Closing Attorney or Title Company
All buyers will need a closing professional to assist with the transaction.
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If you are financing: Your lender will typically select the closing attorney or title company.
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If you are paying cash: You will need to select an attorney or title company to assist with closing documentation, title insurance review, and recording of documents.
Your closing professional will coordinate with the seller’s legal representative to obtain the necessary closing information.
Escrow and Legal Contacts
The escrow agent associated with your transaction may handle deposit funds and escrow administration. Unless you specifically choose to retain them as your closing attorney, all requests for seller documentation or closing coordination should be directed through the appropriate legal or closing contact provided by your sales team.
Preparing Your Current Home for Sale (If Applicable)
If your purchase depends on selling your current home, now is a good time to begin preparing your property for the market. This may include selecting a real estate agent, completing repairs or updates, and planning your timeline to align with your anticipated closing date.
Visiting Your Home During Construction
We understand you are excited to see the progress on your new home. For safety and construction management reasons, buyers are not permitted to enter homes under construction or walk through the job site without scheduling a visit with the sales team.
Please do not:
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Enter the home or construction site without permission
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Look through windows or open doors
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Walk through active construction areas
If you would like to visit your home, please contact the sales team to schedule an appropriate time.
Planning Your Move
As your closing date approaches, it is a good idea to begin planning your move. Moving companies often book several weeks in advance, especially during peak seasons, so scheduling early is recommended.
Your sales team may also be able to recommend preferred moving providers familiar with the community.
Setting Up Utilities
Approximately three weeks before your closing date, you will receive information on how to set up utilities for your new home. Be sure to arrange service start dates so utilities are active on or before your closing date.
Final Walkthrough and Customer Orientation
Shortly before closing, a member of the sales team will contact you to schedule your final walkthrough and customer orientation. This appointment typically takes about 90 minutes and usually occurs several days prior to closing.
During this meeting, you will:
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Review the features of your new home
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Learn how various systems operate
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Address any final questions before closing
Questions
If you have questions at any point during the process, please do not hesitate to contact your sales consultant. Our team is here to help guide you through every step of your homebuying journey.
Disclaimer: The information in this article is for general guidance only and is subject to change at any time without notice. For the most current details regarding your home purchase and closing process, please consult your sales consultant or closing professional.