Buyer Under Contract Checklist

Obtain the buyer's contract and review it thoroughly. Understand the terms and conditions, payment details, and any contingencies mentioned. This task is crucial as it sets the foundation for the rest of the process. Are there any special clauses or requirements that need attention? Make sure to gather all necessary resources, such as a copy of the contract, before proceeding.

Verify the buyer's financing details to ensure they have the necessary funds to complete the purchase. Does the buyer have a pre-approved loan or mortgage? Are there any outstanding debts or liens that could affect their ability to close the deal? Use the provided form field to record the buyer's financing information.

Obtain the buyer's credit report and review it for any red flags. Check for late payments, high levels of debt, or other negative factors that could impact their ability to secure a loan. What steps can be taken if the buyer's credit score is lower than expected? Record your findings in the form field provided.

Confirm if there are any contingent offers on the property. Are there any other buyers interested in the same property who have placed an offer? If so, what are the terms and conditions of those offers? Use the form field to note down any contingent offers and their details.

Contact the money lender to discuss the proposed closing date. Are there any concerns or conflicts that need to be addressed? Make sure to coordinate with the buyer and the lender to find a mutually agreed-upon closing date. How can any potential issues be resolved? Use the provided form field to record the details of the communication.

Schedule a professional home inspection to assess the property's condition. Find a reputable inspector and coordinate a suitable time for the inspection. What factors should be considered when selecting an inspector? What resources or tools are required for the inspection? Use the form field to record the inspection details.

Carefully review the home inspection report provided by the inspector. Identify any major issues or concerns that could affect the buyer's decision to proceed with the purchase. Are there any repairs or negotiations that need to be addressed? Record your observations or any necessary actions in the form field.

Initiate a property title search to verify the ownership and legal status of the property. Engage a qualified agency to perform the search. What information should be obtained through the title search? Use the form field to record the details of the title search order.

Review the results of the property title search. Confirm that there are no existing liens, encumbrances, or legal issues that could impact the buyer's ownership rights. Have there been any unexpected findings in the title search? Document your review and any necessary actions in the form field.

Collaborate with the buyer's lawyer to review and address any legal aspects of the contract. What specific clauses or legal matters require attention? Work together with the lawyer to ensure that the contract aligns with the buyer's interests. Record any discussions or important points in the form field.

Arrange a final walk-through of the property with the buyer. This step allows the buyer to inspect the property one last time before closing. Is there anything the buyer should pay special attention to during the walk-through? Use the form field to record the date and any relevant instructions for the walk-through.

Thoroughly review all the necessary documents before the closing process. Check if all the required paperwork is complete and accurate. Are there any missing documents or discrepancies that need to be addressed? Use the form field to record the details of your cross-checking process.

Confirm the closing date with the buyer. Ensure that it aligns with the buyer's schedule and that all parties involved can meet the deadline. Is there flexibility in the closing date? Record the agreed-upon closing date in the form field.

Verify that all the necessary closing costs are prepared. Calculate the total amount due and ensure that the buyer is aware of their financial obligations. What are the expected closing costs? Use the form field to note down the details of the closing costs and any required payments.

Make necessary arrangements for the closing day logistics. Coordinate with all relevant parties, such as the buyer, seller, and lawyers, to ensure a smooth closing process. Are there any specific instructions or preparations needed for the closing day? Record the logistics details in the form field.

Complete the closing process and finalize the deal. Ensure that all necessary documents are signed, funds are transferred, and ownership is officially transferred to the buyer. Is there anything else to consider or communicate after the closing? Use the form field to note down any final actions or reminders.