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10. What's Next
You've done it. You've looked
at properties, made an offer, obtained financing and gone to
closing. The home is yours. Is there any more to the home buying
process?
Whether you're a first-time
buyer or a repeat buyer, there are several more steps you'll
want to take.
Those papers you received at
settlement are extremely valuable, so hold on to them! In the
short-term they can help establish tax deductions for the year
in which the property was purchased. In the future, such papers
will be important for tax purposes when the property is sold,
and in some cases, for calculating estate taxes.
Also at closing, determine the
status of the utilities required by the home, items such as
water, sewage, gas, electric and oil service. You want utility
bills to be paid in full by owners as of closing and you also
want services transferred to your name for billing. Usually such
transfers can be done without turning off utilities. REALTORS®
can provide contact numbers and related information.
About two weeks after closing,
contact your local property records office and confirm that your
deed has been officially recorded. Such records are public
notices that show your interest in the property.
Moving in
It is generally understood that sellers will leave homes "broom
clean" when moving out. This expression does not mean "vacuumed"
or "spotless." Broom clean makes sense because it means the
house is ready to be painted and cleaned.
Your home, your money
For most owners a home is the largest single asset they hold, so
it makes sense to protect that asset.
Many owners make a photo or
video record of the home and their possessions for insurance
purposes and then keep the records in a safety deposit box. Your
insurance provider can recommend what to photograph and how to
secure it.
You want to maintain fire,
theft and liability insurance. As the value of your property
increases such coverage should also rise. Again, speak with your
insurance professional for details.
Lastly, enjoy your home. Owning
real estate involves contracts, loans, and taxes, but ultimately
what's most important is that homeownership should be a
wonderful experience. Enjoy!
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Homestead Realty, Inc.
Northern Wisconsin Phone 715-892-2751
Northern Wisconsin Office
PO Box 2089
Woodruff, WI 54568-2089
715-892-2751 |
Southern Wisconsin Office
520 Broad Street
Lake Geneva, WI 53147
262-248-4747 (phone)
262-248-7776 (fax) |
Real Estate in Wisconsin Minocqua Boulder Junction Manitowish Waters Arbor Vitae St Germain Presque Isle Mercer Iron Vilas Oneida County
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Here a list of
the towns, counties and areas covered by these web sites.
Since information is being added and updated constantly, some areas
my not be completely represented yet.
Wisconsin: Apostle
Islands,
Ashland,
Alvin, Arbor
Vitae,
Argonne, Blackwell, Boulder
Junction,
Bradley, Brantwood, Carter, Cavour, Chequamegon
Bay,
Clearwater Lake, Clifford, Conover,
Crandon, Cresent Lake, Eagle
River,
Enterprise, Harshaw,
Hayward,
Hazelhurst,
Heafford Junction, Hiles, Hurley,
Jennings, Lac
du Flambeau,
Lake George, Lake
Tomahawk,
Land
O Lakes,
Laona, Long Lake, Manitowish
Waters,
McNaughton, Mercer,
Minocqua,
Mole Lake, Monico, Newbold, Park
Falls,
Pelican Lake, Phelps,
Popple River, Presque
Isle, Rhinelander,
St.
Germain,
Sayner,
Star
Lake,
Starks, Sugar
Camp, Three
Lakes, Tomahawk,
Tripoli,
Turtle
Flambeau Flowage,
Wabeno, Winchester,
Woodboro,
Woodruff,
Lake
Michigan,
Lake
Superior
and the counties of Onieda, Vilas, Iron.
Michigan: Western
Upper Peninsula of Michigan
and the towns of Marinesco,
Ironwood, Bessemer, Wakefield, Iron River, Iron Mountain, Lake
Gogebic,
Bergland,
Silver City, Hancock, Watersmeet, Lake
Michigan,
Lake
Superior
and others.
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