I just contracted on my first house, when can I start cleaning and painting it?

Question

Our closing date is Oct. 13th and it needs some work before we move in, how soon can we start on it? Do we have to wait until closing? We already have been approved for the loan. We just have to wait for appraisal, inspection, and survey.

Answer 1

Most times you don't want to do anything until it closes... I've seen appraisals come in much lower than what you or the realtor expected...which changes financing and If you want to take a chance have your realtor call the owner. The owner may ask for insurance just incase someone gets hurt doing something. If the owner is smart he/she will say it needs to wait until closing.

Answer 2

As having been in the business for awhile Personally I wouldn't lift a Hand until you have a closing... Many times things come up and you may think the sale will close and it may never close. Anything you do then becomes part of the property and you may not ever get you money back for improvements. Plus there is the issue of Insurance. You can't insurance on the property until you own it or you can pay for Renters insurance yet it won't cover everything needed...

Also your way away from getting things wrapped up as there is yet an appraisal, inspections and survey to be done... All of which could delay closing for days, months or more. Property may not appraise out, what every your or your bank is having inspected may never pass and the survey could then envolve title corrections...

may all go smooth for the 13th but I'd be cautious and wait...

Answer 3

I would defiantly say wait till closing - I know you want to get a jump start on getting things done, however until you close, the house isn't yours. The appraisal, inspection and survey are very important in the loan process. Your lender has told you your approved for the loan, but until they get all those items back they can't tell you for sure it will close. You may be throwing your money away doing repair work if something goes wrong and it doesn't close. Also, if it doesn't close and you go into the house and change things you could have an issue with the seller over damages. Be patient.

Answer 4

Yes, you must wait to get the deed, otherwise you are cleaning and painting for the seller. **** happens and even if you are gold, the deal could fall apart. What if one of the sellers die? Void contract, house goes to the estate. You could of course still buy it, but it's a new ball game at that point. It's also under the sellers insurance until closing. What if you or a worker accidentally sets it on fire or causes damage. You walk away and the seller has to try and resell a mess. Sorry, make the moving van wait a week or so after the 13th.

Answer 5

A real estate contract is a contract for the purchase of real estate between parties. Seller promised to sell you house and you promised to buy the house, subject to contingencies such as appraisal, inspection, and survey.
The closing is the event in which the money for the house is paid for and title (ownership) of the house is conveyed from the seller to the you. The conveyance is done by the seller(s) signing a deed for you or your attorneys to record the transfer of ownership. Often other paperwork is necessary at the closing.
Before closing cleaning and repairing can be done with the seller permission, but it is seldom done because of the risk involved. For instance what happened if during the cleaning you will brake your leg on faulty stair, who will pay for it.

Answer 6

Depends on the laws in your state. Most states do not allow you to occupy or begin any improvements (including cleaning and painting) until "closing". In the state of Nevada, the transaction has not closed until the deed is recorded with the county. Ask your real estate agent when you can begin work. You agent may be able to negotiate with the seller to allow you in before Oct. 13th.

Good Luck and congratulations on your new home!!!

Answer 7

You would be ill advised to do ANYTHING to it until you have actually closed and until you are fully insured on the property, which would not be in effect until the closing. If you are able to get in a head of time (are there not other owners in there now?), and did work and then something happened (fire, act of nature, whatever) you would NOT be covered because you don't yet actually own the propery. Approval of loan does not mean you own the property nor does it mean you are insured. Until those things transpire, stay out and bide your time. You will be in there soon enough and then let the work commence.

Answer 8

For your protection DO NOT DO ANYTHING TILL YOU CLOSE. Any number of things can and do go wrong. The appraisal could come in too low, the inspection could turn up hidden defects or problems and the survey could have land boundary disputes.

Answer 9

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Answer 10

You would have to ask the owners if you can get in there earlier. Offer day to day rent prior to closing. This really should have been asked when you made the offer. The owner is under no obligation to let you in earlier.