Closing/Post-Closing
- Congratulations! We are closed.
All our hard work has paid off. You are now a homeowner. Below are some of this things you’ll want to do after closing escrow:
- Meet with me and get your keys
- Gather all escrow documents in one place and store in a secure place
- Call the utilities companies for the new and old home and stop/start service
- Start moving
- Change your address with the following:
- DMV
- USPS
- Billing companies (Loans, Credit Cards, Ect)
- Investment accounts
- Places of employment
- Family and Friends
- Find out where to pay your mortgage
- Once you’re moved in, meet your neighbors
- Considering a home security system
- Celebrate!!
- Verify Home Services
To verify the services for your home in Los Angeles County, (Water, Power, Gas, Trash, Etc) visit https://pw.lacounty.gov/general/servicelocator/ . Gas is usually Southern California Gas Company.
- Supplemental Tax Bill
When you purchase a home, you may receive a supplemental tax bill. When ownership is changed on a property, the value is reassessed. The difference between the previous value and the reassessed value creates the supplemental tax bill. This amount is not collected and paid by the lender. This amount is separate from the property tax bill and is the owner’s responsibility to pay.
Many homeowners qualify for an exemption for the supplemental tax bill. First, contact the county recorder’s office to inquire about qualification. Next, complete and send in the form.
County recorder contacts:
https://www.boe.ca.gov/proptaxes/countycontacts.htm
Form:
https://www.boe.ca.gov/proptaxes/countycontacts.htm
Conclusion:
In closing, you now have the tools needed to start your home buying journey. I hope this guide not only helps you to understand the process but also encourages you to start the journey. In my opinion, buying a home is the best way to build wealth.