Homeowner’s Insurance
The lender will require you to have homeowners insurance on
the property that covers the amount of the replacement cost
of the property.
Survey or Plot Plan
The lender may require a survey, or plot plan, of the
property to confirm that the property’s boundaries are as
described in the sales contract.
Water & Sewer Certification
If the property is not served by public water and sewer
facilities, you will need local government certification of
the private water source and sanitary sewer facility.
Properties with well and septic water sources are usually
governed by county codes and standards.
Flood Insurance
If the lender or the appraiser determines that the property
is located within a defined flood plain, the lender will
require a flood insurance policy.
Certificate of Occupancy or
Building Code Compliance Letter
If your home is newly constructed, you will have to have
a Certificate of Occupancy, usually from the city or county,
before you can close the loan and move in. The builder will
obtain the certificate from the appropriate authority.
Final Walk Through
Within 24 hours prior to your closing, you and your real
estate agent should make a final inspection of the property
to make sure any required repairs have been completed, all
property included in the purchase contract, such as kitchen
appliances, carpeting and draperies are present and that no
recent fire or storm damage has occurred.
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