BUYERS CHECK LIST
CONGRATULATIONS! There are matters that need your attention. If you are working with an attorney separate from the lenders attorney please provide his/her contact information immediately so that we can allow time for review of all documents.
1. Home Inspection
As discussed you have through to complete your home inspection(s) and confirm your satisfaction/dissatisfaction with the results. You have received the Accurety, LLC Home Inspection Facts disclosure that provides a link for licensed home inspectors. I can assist with a referral as needed. We will discuss next steps if concerns happen to arise from the home inspection.
2. Purchase and Sales
Once it is confirmed that you wish to move forward the listing agent will have until to provide the Purchase & Sales Agreement (P&S). In NH the P&S is presented as the offer. With the final executed P&S the remaining bank check deposit of is due written out the listing agent firm of .
3. Financing
You most likely have already received a prequalification from a lender. You must submit the application for a loan on the property by and provide an executed copy of the P&S. After the application is filed, an appraiser with inspect the property and submit to the lender. Your mortgage contingency date is . By this date you must have full approval from the bank. If there is a delay please let me know before this date so we can request an extension from the sellers. If you are denied the loan for any reason and wait until after the mortgage contingency date, without getting an extension to notify the seller, the seller can and most likely will keep your entire deposit on the property.
4. Homeowners Insurance Policy
It is your responsibility to insure the property as of the closing date. You will likely pay the first year insurance upfront and following years will be escrowed into your mortgage payment. This should be started at least three weeks prior to the closing date. You will have to bring a copy of the insurance binder to the closing. Your car insurance carrier may provide a multi policy discount. I recommend contacting them for a quote as well as other agencies. Please ask your lender what name needs to go on the binder.
4. Utility Companies (Electric, Gas, Phone, Internet, Cable)
At least three weeks before the closing date you should contact utility companies informing them of the date you are going to need services started and if necessary schedule shut off at present address.
5. Water/Sewer if applicable
The listing agent will provide your name to the water/sewer department when requesting final bill
6. Buyer/Seller Credits on the HUD
If the home is heated by oil the Buyer will reimburse the Seller at closing, using an agreed upon rate per gallon left in the tank. There may be other items, such as prepaid rent on a multi family and other credits on the HUD that the lender will discuss with you. You will review the final HUD prior to closing with attorney. Remember to bring your checkbook to the closing just in case there are small items that need to be settled as not to delay the closing.
7. We’re Moving!
Don’t forget to notify creditors, delivery servicers, banks, DMV, auto insurance etc. of new address. You may ask the post office to forward all your mail as well.
8. The Closing Date
Your closing is scheduled to take place on . These details may change and I will confirm final time and place as we get closer to the date. Remember to bring a non expired picture ID (license) to closing.
I hope this checklist is helpful, there may be other tasks that need attention that are not listed. Please contact me with any questions. I will be speaking with you soon. GOOD LUCK!