Buyer’s Closing Checklist

Buyer’s Closing Checklist

A large part of our responsibility is to monitor certain milestones once you are under contract on a property. We essentially walk the contract through to closing. Here is an abbreviated list of what we need to do to get your transaction closed.

􀀀 Stay in close contact with your Lender on your loan status, conditions and deadlines.

􀀀 Send copies to all involved parties: Lender, listing agent, and you our client.

􀀀 Coordinate inspection with agent, inspector, and listing agent.

􀀀 Track all the following deadlines:
____________Loan Application and Objection
____________ Appraisal and Objection
____________ Record Title Deadline and Objection
____________ Owners Association Documents

􀀀 Deadline and Objection
____________ Off-Record Title Deadline and Objection
____________ Off-Record Matters Objection
____________ Seller’s Property Disclosure
____________ Inspection Objection and Resolution
____________ Property Insurance Objection Deadline

􀀀 Review Title Commitments, request additional documentation and dispute any unnecessary exceptions and judgments (as necessary).

􀀀 After inspection, contact Buyer and discuss what repairs they would like to request. Prepare Inspection Objection and obtain signature(s). Forward notice to listing agent to present to Sellers.

􀀀 Follow up with listing agent to check status on inspection items before inspection resolution.

􀀀 Make certain all parties are in agreement in writing by the resolution deadline.

􀀀 Contact Lender weekly with status reports. Review and make sure Lender is on track to meet all deadlines.

􀀀 Track appraisal deadline.

􀀀 Track ILC deadline (if applicable)-Make sure Improvement Location Certificate is ordered, if required.

􀀀 Track Loan Objection Deadline.

􀀀 Check with Buyer that insurance has been ordered. Obtain insurance company, contact, phone number, and premium amount.

􀀀 Coordinate closing with all parties, to include seller, buyer, agents, lender and title representative.

􀀀 Contact Buyer to see if all parties will be at closing. If not, order a Power of Attorney or arrange for documents to be mailed. Get Buyer to notarize, send a copy to the Title Company and Lender. Keep the original in our file.

􀀀 Confirm Utilities have been put into the Buyer’s Name.

􀀀 Coordinate walk through with Buyer and notify listing agent.

􀀀 Call closer 10 days before closing for final figures.

􀀀 One week before closing, call the listing agent, check status of inspection items and obtain receipts as necessary.

􀀀 Three days before closing, call the Lender and ask what department the file is in and when it will arrive at the Title Company. Continue to follow up until the Title Company receives the loan package.

􀀀 Contact closer to see if there are any final loan conditions to be met prior to closing.

􀀀 Once figures arrive, notify Buyer. If it is a wire transfer, money must be sent 24 hours prior to closing. Confirm the wire went out and call the Title Company to confirm it arrived. If funds are in the form of a cashier’s check, be sure Buyer gets the check made payable to self to sign over to the Title Company at closing.

􀀀 Confirm walk through and closing with all parties.

􀀀 Gather final paperwork to be signed, necessary documents and closing folder.

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Homes for Sale in Colorado Springs, Colorado Springs Real Estate

Phone Number:

719.388.4000

Address:

Springs Homes
703 N. Tejon St. Suite E
Colorado Springs, CO 80903

Meet Springs Homes

There is nothing average about Springs Homes. Everything we do crackles with intention and intensity, because we believe that strategy always wins when employed by confident, knowledgeable and trustworthy agents.

We list and sell homes across the entire Pikes Peak region. Additionally, Springs Homes offers property management services. We work with a select few home builders in order to provide our clients with new construction options as well as resale opportunities.

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