Step 3 – From Contract To Closing!
JOYCE BLISS
“If it’s important to you,
it’s important to me!”
5285 N.
Roxboro Road
Durham, North
Carolina 27712
Cell:
919-308-1215
Office:
919-281-3238
Web: http://joycebliss.yourkwagent.com/home
Email: joycebliss@kw.com
Presentation
of Offers
When
we write an offer on the home of your choice, I will do the following:
1. Probe the
other agent for critical information and if possible, use that information to
help you.
2. Present your
offer in the best light possible, along with your Buyer Qualifications.
3. Go over every
item in the contract with you so that you thoroughly understand what you are
offering and what it means to you.
4. Represent your
interests and offer sound advice so you can make an informed decision.
I
will give you as much input as I possibly can regarding:
1. Current market
conditions and financing activity.
2. Other sales to
date, and other competing listings.
3. Economic
conditions.
4. What if the
seller rejects your offer.
5. What if the
seller accepts your offer.
Checklist
for Presentation of Offers
I use this checklist to protect you when we write an offer on the
home of your choice:
1.
Terms clear and
complete.
2.
Loan Information
A.
Is the anticipated
loan realistic?
B.
Is there an interest
rate – not to exceed %?
C.
Are you qualified?
D.
Number of days to
qualify for and obtain the new loan.
E.
Are there any
contingencies?
3.
All dates are clearly
spelled out and realistic:
A.
Date for loan
approval.
B.
Date for additional
earnest money, if any.
C.
Date for closing.
D.
Date for inspection
notification
E.
Date for removal of
any contingencies.
F.
Date for possession.
4.
Personal property and
fixtures – are these acceptable?
5.
Have all parties
signed the contract?
6.
Date of occupancy –
provision made for rental, if possession not upon date of closing.
7.
Are there any other
addendums required? (i.e. dual agency agreement, lead paint disclosure)
Checklist
for Presentation of Offers
(continued)
8.
Any variation in
payment of normal closing costs for Buyer and seller.
9.
INSPECTIONS
A. Who pays for them?
B. What kind of inspections?
10. What repairs, if any, are to be made; by whom and with what
dollar limitation, if any?
11. Owner’s Disclosure of any deficiency within or affecting the
property or structure, which might adversely affect the value, use or enjoyment
of the property or structure by Buyer.
12. Signatures by all sellers on contract.
13. Homeowner assessments and property taxes – paid or prorated.
14. Sale of Buyer’s Home.
A. Number of days to sell – does it correspond
with the closing date – 48 hour kick-out clause.
B. Communication with other broker/lender to
assure a smooth transaction.
15. Understanding by Buyer and Seller of costs to be incurred..
Processing the
Sale
A Realtor® has more responsibilities than showing
homes and writing contracts! You should
be aware of what your Realtor® does after the contract is signed:
1.
Order a title search
and survey.
2.
Deposit Earnest Money
3.
Distribute contract
copies to buyer, seller, attorney, lender, appraiser and agents.
4.
Order all necessary
inspections.
5.
Review the survey for
defects.
6.
Note all
contingencies and attempt to remove them within the time limit provided or get an
extension of time, if needed.
7.
Stay in touch with
your lender to make sure that the loan is processed in time for closing.
8.
Keep you abreast of
inspections and their findings:
B. Pest Control
C. Structural
D. Water-proofing
E. Radon, mold, etc
9.
Arrange any required
termite treatment and obtain certificate.
10. Coordinate execution of any required repairs.
11. Verify insurance has been ordered.
12. Provide attorney with any outside charges for HUD-1.
13. Obtain closing documents before closing so that if any problems
arise, we can solve them.
14. Coordinate the closing and move-in dates so that they are as
convenient to both parties as possible.
15. Make sure that you remember to transfer utilities and bring
certified funds to closing.
Check-List for Moving
When We Go “Under Contract”, your
responsibilities are:
|
GIVE ADDRESS CHANGE TO: |
q
Post Office |
|
|
q
Charge Accounts,
Credit Cards |
|
|
q
Subscriptions: Notice requires several weeks. |
|
|
q
Friends and
Relatives |
|
BANKING |
q
Don’t go out and
incur new debt! Please don’t spend a thing until you check with your lender! |
|
INSURANCE |
q
Call for quotes on
your new home owner’s insurance policy.
Call me for advice! Notify company of new location for coverage’s;
Life, Health, Fire and Automobile insurance. |
|
UTILITY COMPANIES |
q
Gas, Electric, Water,
Telephone, Cable (call them about 10 days prior to closing) |
|
|
q
Get refunds on any
deposits made. |
|
MEDICAL, DENTAL, PRESCRIPTION |
q
Ask Doctor and
dentist for referrals. q
Transfer needed
prescriptions, eyeglasses, q
Obtain birth
records, medical records, etc. |
|
REMEMBER TO: |
·
Place ALL important
documents in a separate box clearly marked “DO NOT LOAD” and carry it with
you. Include tax returns, pay stubs, banks statements, and other
documentation that the lender may need for your mortgage! |
|
|
|
Check-List for Moving (continued)
|
ON MOVING DAY: |
q
Carry enough cash or
traveler’s checks to cover cost of moving services and expenses until you
make banking connections in the new city. q
Carry jewelry and
documents on your person or use registered mail. q
Leave all keys,
garage door opener controls and appliance warranties on kitchen counter for
new owner |
|
|
q
Plan for
transporting pets; they are poor traveling companions if unhappy. |
|
|
q
Double check
closets, drawers and shelves to be sure they are empty. |
|
|
q
Remember to take
garden hoses. |
|
|
q
Check on service of
telephone, gas, electricity and water. |
|
|
q
Check pilot light on
stove, water heater, and furnace. |
|
|
q
Have new address
recorded on driver’s license/apply for state driver’s license. |
|
|
q
Register car within
5 days after arrival in state or a penalty may have to be paid when getting
new license plates. |
|
|
q
Register children in
school. |
|
|
q
Arrange for medical
services: Doctor, Dentist, etc. |