This is a sample of what I give to my buyers when we are close to making an offer. It prepares them to what is lying ahead. I also have a similar checklist with dates so that we are all on the same page. No guesswork, and it takes a lot of stress off the buyers when going through contract to close because they have a plan of action and they don't have to call me as much because they know what is coming next! This is even great for seasoned buyers because every state is different, as are contract requirements, and you never know how long ago that seasoned buyer closed on a home. Could have been 10 years ago! I am an NC agent, so this list works well with my contract, but you are welcome to use this as a guide for your own!
Also -- feel free to comment and add some ideas if you have them!
BUYER'S CHECKLIST
•· So you want to make an offer? Get pre-approved with at least 2 lenders. Shop the rate.
•· Review Covenants and Restrictions (if any for the neighborhood) on the property you wish to make an offer on.
•· Sign the Offer to purchase and give me the Earnest money check, made out to "RE/MAX Executive Realty"
•· Negotiate the Offer with Sellers until we have a ratified Contract.
•· Apply for loan with lender of choice (within days specified on contract)
•o If FHA or VA loan, please let me know asap! For FHA and VA - more signatures required
•o (I will be forwarding lender the contract docs so you can lock in your rate)
•· Call home owner's insurance company to get a BINDER & quote. Have this faxed to lender and yourself.
•o Ie. Geico, USAA, Nationwide, or where you have your car insurance
•· Inspect home with Licensed inspectors, if payable at closing, have them send me the invoices
•o Termite, Well, Septic, Radon, structural etc.
•· Decide on a closing attorney. I can give you recommendations on the best priced
•· (Meanwhile, I am setting closing date and sending a copy of contract docs to Attorney)
•· Decide whether you want to order a survey. Ask the attorney for clarification why you need one.
•· Get all documents to Lender as soon as possible to expedite final approval
•o We will be waiting on appraisal and title search after this step is completed
•· Go over inspection with me and we can decide on repairs to ask for
•· Turn in Repair Request report to seller's agent (signed by buyers)
•o Once repairs agreed upon or completed, Copy of clear termite report sent to lender & attorney
•· Cross our fingers for good appraisal and final loan approval!
•· Obtain a list of utility companies from me
•o Cable, power,phone, water,trash, mail box keys,etc.
•· Do a final walk-thru and make sure repairs are done in a timely and good manner
•· Take measurements for refrigerators, washer/dryer, furniture, etc.
•· Order your moving truck for date of move.
•· After getting the closing date firmed up, have utilities turned on in your name for the date of closing.
•· Meet at the attorney's office
•o Make sure to bring driver's license and Certified Funds for the amount given to you by the paralegal of the attorney's office. You usually receive the amount for closing within 24 hours before closing, but most of the time, within a few hours of closing. Certified funds to be made out to the name of the attorney's office.
•· You are the new home owner after the documents are recorded at the Register of Deeds office, shortly after closing. Get your keys!
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