This is a copy of the letter we use to be sure once the contract is accepted that our buyer knows exactly what is going to happen next. This information is also online but we provide a written record to cover all the bases. Here is what one of ours looks like it is provided on letterhead and given to the buyer with the copy of the completed contract. Be sure you know what happens next with your sale and feel free to use this for a guideline. Your agent probably already has something in place like this but it helps to be sure.
Dear Kim,
Here's what's going to happen next! This letter is an overview of what happens between now and the closing of your new home. We have found the following information to be very helpful to our customers. It is very important, so please review carefully. We hope that it will answer some questions you might have.
1. Your earnest deposit check will now be cashed! Deposits are held in escrow until the closing. (in red letters) An additional deposit of $9129.00 is due upon receipt of final mortgage commitment which is due Sept. 15, 2006.
2. You'll need to order the inspections you indicated in the Purchase and Sales Agreement. (Termite, structural and mechanical, water quality, radon and septic) by (in red letters) TBD. The home inspection may take anywhere from 1-5 hours. You wil have 5 days after the tests are completed to review the results and report any concerns in writing to the sellers through your agent, not later than Sept. 10th.
3. The sellers will need to order the septic pumping and inspection we requested by (in red) N/A
4. You must have (in red) WRITTEN loan approval by (in red ) Sept. 15th, 2006
5. Your closing date is anticipated to be on or before (in red) Sept. 30, 2006. Closing is traditionally held at Metro Title Services, Inc. Tyler will mail you directions to this location about a week before closing.
6. (in red) The title company and our closing coordinator will handle most of the details of the closing, including setting the closing date and time. It is usually set up only 3-5 days in advance. Please consult with our closing coordinator before making arrangements to take time off. Tyler will let you know the EXACT amount needed for the closing. Depending on your lender, sometimes this number is not available until the day of closing.
7. Possession and closing are the same day unless we have made other arrangements in advance.
8. You are entitled to a walk through. This is usually done the day before or the day of the closing. The walk through is for final ispection of the home to make sure that any repairs agreed upon are completed and to be sure the house is in the same condition as the time of contract.
9. Don't forget to contact the appropriate utility companies for your utilities transfer. A copy of who you need to contact is attached for your convenience. These transfers should be set to take place on the day of closing.
10. (in red) If there is a propane gas tank, the sellers may fill the propane gas tank before closing in which case you will need to reimburse the seller at closing unless otherwise agreed upon. Tyler our closing coordinator will let you know the reimbursement amount.
11. It is also a good idea to decide on a propane gas provider. You can inquire to the different providers to get prices, and find out specific information on automatic delivery, contracts, etc.
12. If you will be using Power of Attorney to close, it is very important that we have a copy of the Power of Attorney as soon as possible for title company review.
13. Bring photo ID , proof of paid insurance policy and a Certified or bank check
Teri and the Orlando Avenue Top Team want to make sure that you have a smooth and successful transaction. Please feel free to contact your agent or our Client Care Closing Manager Tyler at 407-962-4242 or at Helena@orlandoavenue.com for any questions or concerns you might have.
Sincerely,
Teri Isner
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