Your “Home Buyer Kit”

Step 3 of 3 – From Contract To Closing!

KAREN JOHNSTON

“Helping you find your castle…

Your Way!”

14700 E. Independence Blvd.

Indian Trail, NC28079

Tel: 704.684.1012

Cell: 980.721.7284

Fax: 704.684.1112

Web:

Email:

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
  1. Is the anticipated loan realistic?
  2. Is there an interest rate – not to exceed %?
  3. Are you qualified?
  4. Number of days to qualify for and obtain the new loan.
  5. Are there any contingencies?
  1. All dates are clearly spelled out and realistic:
  1. Date for loan approval.
  2. Date for additional earnest money, if any.
  3. Date for closing.
  4. Date for inspection notification
  5. Date for removal of any contingencies.
  6. Date for possession.
  1. Personal property and fixtures – are these acceptable?
  2. Have all parties signed the contract?
  3. Date of occupancy – provision made for rental, if possession not upon date of closing.
  4. Are there any other addendums required? (i.e. dual agency agreement, lead paint disclosure)

Checklist for Presentation of Offers
(continued)

  1. Any variation in payment of normal closing costs for Buyer and seller.
  2. INSPECTIONS

A.Who pays for them?

B.What kind of inspections?

  1. What repairs, if any, are to be made; by whom and with what dollar limitation, if any?
  2. 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.
  3. Signatures by all sellers on contract.
  4. Homeowner assessments and property taxes – paid or prorated.
  5. 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.

  1. 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:
  1. Mechanical

B.Pest Control/Termite

C.Structural

D.Water-proofing

E.Radon, mold, etc

  1. Arrange any required termite treatment and obtain certificate.
  2. Coordinate execution of any required repairs.
  3. Verify insurance has been ordered.
  4. Provide attorney with any outside charges for HUD-1.
  5. Obtain closing documents before closing so that if any problems arise, we can solve them.
  6. Coordinate the closing and move-in dates so that they are as convenient to both parties as possible.
  7. 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: / Post Office
Charge Accounts, Credit Cards
Subscriptions: Notice requires several weeks.
Friends and Relatives
BANKING / Don’t go out and incur new debt! Please don’t spend a thing until you check with your lender!
INSURANCE / 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 / Gas, Electric, Water, Telephone, Cable (call them about 10 days prior to closing)
Get refunds on any deposits made.
MEDICAL, DENTAL, PRESCRIPTION
HISTORIES / Ask Doctor and dentist for referrals.
Transfer needed prescriptions, eyeglasses,
X-rays.
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: / Carry enough cash or traveler’s checks to cover cost of moving services and expenses until you make banking connections in the new city.
Carry jewelry and documents on your person or use registered mail.
Leave all keys, garage door opener controls and appliance warranties on kitchen counter for new owner
Plan for transporting pets; they are poor traveling companions if unhappy.
Double check closets, drawers and shelves to be sure they are empty.
Remember to take garden hoses.
Check on service of telephone, gas, electricity and water.
Check pilot light on stove, water heater, and furnace.
Have new address recorded on driver’s license/apply for state driver’s license.
Register car within 5 days after arrival in state or a penalty may have to be paid when getting new license plates.
Register children in school.
Arrange for medical services: Doctor, Dentist, etc.

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