Buyer's Checklist: Contract to Closing

The seller accepted your offer! Now what? You may be feeling overwhelmed, a mix of excitement and nervousness, and that's normal.

Your REALTOR®’s job is to keep your closing on track for you; however, I find that many buyers like to have a list to follow along as things are completed.

My buyer clients receive notifications every time one of these tasks is completed on their behalf.

This is a basic list of items that usually need to be completed between contract and closing. Your process may require more or fewer steps, depending on a number of circumstances. 

CLOSING CHECKLIST

1. ___ Effective Date. This is the day the contract was ratified… in writing. I will send you a copy of the contract for your records.
2. ___ Turn in earnest money. Drop off your check at the attorney's office (I am happy to do this for you), or wire funds to the attorney.
3. ___ Apply for your loan. Make an appointment with your lender to complete your loan application. Your lender may collect payment for your appraisal at this time. Your
   lender will schedule the appraisal.
4. ___ Shop for homeowner’s insurance. Connect your insurance agent with your lender.
5. ___ Schedule home inspection. I will coordinate this for you, and offer a list of preferred inspectors if you don't have one you trust.
6. ___ Attend home inspection. You're not required to attend, but it's a good idea to go if you can. I will definitely be there. It's a good opportunity to ask questions about the house, and measure rooms for furniture or renovations.
7. ___ Send repair request to seller. I will review the home inspection report with you, and prepare a repair addendum that asks the seller to address all of the concerns you have about the house.
8. ___ Make arrangements for a moving truck, storage, temporary housing, boxes, etc. Begin packing.
9. ___ Schedule CL-100. This is the termite inspection. I will help you select an inspector, and coordinate the inspection day and time with the seller. 
10. ___ Address concerns on the CL-100. We will make sure you understand the report, and communicate any required repairs to the seller for you.
11. ___ Review appraisal with the lender. If the appraisal comes in below the contract purchase price, I will make sure you understand all of your options and how to move forward.
12. ___ Notify utility companies to change over or turn on water, power, cable, and phone services. Change address with post office.
    
13. ___ Schedule final walk-thru. This is an exciting last look at the house before it becomes yours! I will coordinate this for you.
14. ___ Review your settlement statement. We will do this together as soon as it's available from the closing attorney. 
15. ___ Wire your closing funds. You will know exactly how much to send the closing attorney once your settlement statement is finalized.
16. ___ Attend closing. This is a one-hour event where you sign all your loan documents and receive your keys!
17. ___ File the 4% tax form. The only way to get the owner-occupant tax rate (4%), instead of the default investor rate (6%), is to fill out and submit the form specific to your county.

If you’re working toward your closing and you have any questions or concerns, please call or text me at 843.870.0890, or fill out the form below.