So you’ve decided to buy a house.  That’s great!  Homeownership is a wonderful thing, but you may feel like you need to jump a few hurdles before you can cross the finish line.  Real estate closings can seem complicated, especially if you’re a first-time home buyer, so here’s a checklist of things you’ll need to bring to the big day:
 
1.     Your ID. 

Bring your driver’s license or other form of photo identification.  Some lenders even request a second form of ID such as a passport or a birth certificate.  Your lawyer will let you know what’s required.
 
2.     Funds.

You will need to provide cash for both the down payment and the closing costs.  Your closing attorney will give you the numbers- just be sure to bring a cashier’s check.
 
3.     Your Good Faith Estimate.

Your lender should have provided you a Good Faith Estimate of closing costs during the loan application process.  Make sure the final closing costs match up to what was originally quoted to you.
 
4.     Proof of insurance.

You will need to provide proof that you have established a homeowner’s insurance policy on the property.  Your lender may want to review your policy before closing on the home.
 
5.     Your signature... and your smile.

​Buying a home- from finding a lender to going through the ordeal of closing- can be a stressful experience.  This is the day you finally get the keys.  The house is yours.  Congratulations!
 
At Collins & Hepler, we’re proud of our long history of residential and commercial real estate closings.  In fact, our archive houses over 6,000 real estate files.  We bring experience and personalized service to your home buying process.  If you’re thinking of purchasing a property in Covington, Alleghany County, Bath County, Lexington, Rockbridge County or Buena Vista, contact us for a free consultation.

​1.     Landlords are required to disclose certain facts.

When you move in, for example, a landlord is required to disclose to you the names of all the people who have a right to manage the property.  They’re also required to tell you if there is any visible evidence of mold.  If there is, you have the right to change your mind about moving into the property within five days.

2.     There is a limit on how much the security deposit can be.

Virginia state law dictates that the security deposit cannot exceed the amount of two month’s rent.  Also, if all the conditions are met, the security deposit must be returned to you within 45 days after you move out.

3.     Certain rules have to be followed before you can get evicted.

For example, if you have repeatedly violated the lease (such as damaging the property or keeping a pet), the landlord may give you an “unconditional quit notice,” which means that you have 30 days to move out before the landlord can file for eviction

4.     You have the right to withhold rent if important repairs are not made.

If a landlord fails to take care of an important repair, such as a broken heater or a blown fuse, you have the right to withhold paying rent until the repair is made.

5.     There are restrictions on a landlord’s right to access the rental property.

When a friend of mine was living in Richmond, her landlord and one of his buddies unlocked the door and walked into the apartment she was living in as she was sleeping, with no notice.  As you can imagine, it terrified her.  This action was illegal.  A landlord is required to give you 24 hours notice of entry (unless you’ve requested maintenance).
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It’s always helpful to know the laws and know your rights!  Click here for more information on landlord-tenant laws in Virginia.