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The lender will require you to have homeowners insurance on
the property that covers the amount of the replacement cost of
the property.
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.
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.
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.
If you 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.
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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