You are a first time home-buyer, and you have just closed on your first home, a great piece of Burnsville real estate. Now what?
Homestead Your Property
As your title closer will tell you at the closing table, it is imperative that you go to the county and homestead your property for tax purposes. This is a simple, free process. You basically show up at the county courthouse and bring along your Certificate of Real Estate Value and Deed that you are given by the title closer. It’s that easy. If you don’t homestead your property by December, your property taxes could increase significantly. It is best to homestead your property as soon as you move into your new home, as forgetting and trying to undo the forgetfulness isn’t easy.
Your first mortgage payment
More often than not, your mortgage loan will be sold from the company that you received your mortgage from, to a secondary market investor. This is important to you as you will need to pay your monthly mortgage payment to whoever is currently servicing or owns your mortgage. Do not be alarmed when you get a letter after closing stating that ABC Mortgage has sold your loan and to start making payments to XYZ Mortgage. You will also get a letter from XYZ Mortgage, letting you know how to contact them and where to send your payments. This will probably happen a number of times throughout the life of the loan. Lately, we have seen loans being sold to different companies a number of times before the first payment is even made. Just make sure that you are contacted by the company that HAD your mortgage and verify that it was sold before you start sending mortgage payments to unconfirmed places. 
Utilities and Mail
Chances are you have already arranged for utility services on your new home; most people will have them lined up for the day of or the day after closing. If you haven’t, you will need to contact all the local utility providers and get your account set up. The best place to look in Burnsville is to check out the Burnsville City Website. Most other cities in Dakota County and Scott County also have utility information provided on their sites. You can contact the United States Postal Service to get your mailing address switched, and don’t forget to contact each of your individual banks, employers, creditors, subscriptions and other service providers.
Important Title Information
When you purchase your home, you will be put on the title of the property. All property title records are kept in the county in which the home is located. So, if you buy a home in Burnsville, your property title is kept on record in Dakota County. Please be aware that the recording process is just that, a process…. it doesn’t happen overnight. It can take months for your name to show up in title to your property. If you are anxiously awaiting to see your name pop up on the county website as homeowner, pull up a chair. I know that mine took 6 months to show the change. If you are purchasing a bank owned property or Torrens property, it will take even longer.
Many first time home-buyers have questions after closing. Every transaction is different, so don’t be afraid to call your loan officer or title company for guidance.
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Nice article. When purchasing a home there are really lot of things to do but it is worth-it because after all the difficulties is the enjoyment because of your new house.