Champlain Housing Trust Buyer's Checklist

Champlain Housing Trust Seller's Checklist

This Checklist is intended to make your transaction as orderly and convenient as possible.

Do not hesitate to contact Brandy or Jaclyn if you have any questions.

Fire & Safety

Inspection: Arrange for the Fire and Safety Inspection and provide the report to CHT (Condo’s Only)

Attorney: Once you are under contract, you need to hire an attorney. Their responsibility is:

·  Prepare the Warranty Deed

·  Prepare the Vermont Property Transfer Tax paperwork

·  Reviews the Purchase and Sale Contract and legal documents

·  Coordinate with the buyer’s attorney or title company

·  May attend the closing to ensure no surprises

Building

Inspection: The Buyer will arrange for a building inspection. Any health and safety issues, CHT will ask you to take care of.

Condo Resale

Certificate: For Condos – contact your association to request copies of all the condo documents and a resale certificate. This is needed at least seven days before closing.

Utilities: About a week before closing, arrange to have the utility companies take a final reading the day before closing. Provide them with the name of the buyer, and indicate that the buyer will call to make arrangements. (Electric, Gas, Water/Sewer, Oil/Gas Tank, Telephone, Cable/TV, Rubbish Removal, Newspaper Delivery.)

Liens: The buyer’s attorney will usually arrange for the discharge of any outstanding (if applicable) mortgage (first, second, third) and release of any liens or encumbrances on the property. Make sure CHT knows of all liens on your property.

Taxes: Unpaid taxes will be adjusted at closing on a per diem basis. Any taxes that are paid beyond the date of closing will be pro-rated back to you. Provide your Tax bill to CHT and your attorney.

Insurance: Notify your insurance company of the impending sale.

Expenses: A couple of days prior to closing, contact the closing attorney or bank loan officer regarding your closing expenses. These will include a broker’s fee, a recording fee for your mortgage discharge, and preparation of a new Deed.

Other Items:

·  Hire a moving company or reserve a truck and recruit friends and family to help you move.

·  Notify the U.S. Postal Service of your new address.

·  Sign and obtain copies of your closing documents.

·  Fill out the Exit Survey for CHT.