To read this blog in Spanish, click here.
To download the blank checklist for use in your transactions, click here.
To view the Checklist for Buyers, click here.
To view the Checklist for Realtors, click here.
To view the Checklist for Lenders, click here.
To view the Checklist for Closing Agents, click here.
INSPECTION Period
Provide access for inspections and appraisals;
Decide on whether to hire independent attorney for representation or if title company will prepare conveyance documents;
Deliver prior title insurance policy (if available);
PRO TIP: If Seller does not have a prior Owner’s Title Policy, maybe the Seller’s have their Settlement Statement from their original Closing and we can help contact the old title company and solicit the policy if the Closing occurred within the last 7 years.
Contract Due Diligence and Financing Period
Review lien search, survey, estoppel, and title commitment. If title defects are presented, work to clear title conditions;
Be prepared to move out and provide possession at Closing (unless there is a post-Closing occupancy).
Pre-Closing & Closing
Seller must pay for the current water account balance.
Deliver fully-executed conveyance documents for Closing;
PRO TIP: If you would like to learn more about the documents the Sellers must execute to properly transfer ownership, we invite you to read our Guide to Seller Documents here.
PRO TIP: For Sellers who are legal entities, check out our list of Required Corporate Documents here.
PRO TIP: For Sellers who are out of the Country and/or may not be able to attend Closing, please read our article “HOW CAN SELLERS EXECUTE DOCUMENTS WHEN THEY ARE ABROAD OR OUT OF STATE?” here.
Deliver possession at Closing *once seller proceeds have been wired* (keys and access cards should be coordinated by real estate agents and/or delivered to Closing Agent with an escrow letter).
Post-closing
Close out water account and obtain final bill and provide to title company for water holdback escrow reimbursement
Close out electricity