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RESALE HOME CHECKLIST (PURCHASER) 1. Apply for the loan within the time limits of the contract. Make a note of when your locked in interest rate expires and be sure you allow a cushion just in case we cannot close on time. 2. Schedule home inspections within the time limits of the contract (the due diligence period). We will submit an Inspection Amendment if necessary within the time limits of the contract. 3. Obtain a preapproval letter from your lender if required by the contract. 4. Shop for homeowner’s insurance. You must bring/pay for a one-year policy to close. You can choose to pay for the policy at closing but you must bring an invoice along with the policy. 5. Schedule all the utilities (gas, power, phone, water, cable) no sooner than 2 weeks prior to closing. The seller MUST have called in their disconnect dates prior to you calling in to connect. Be sure to have the disconnect and connect dates on the same day so that the utility companies will just read the meters and leave the utility on. 6. Call in the name of your insurance company, the annual premium and whether you will prepay for the policy or pay for it at closing. You can give this information to Joli or the closing attorney. 7. Discuss owner’s title insurance with Joli. You may purchase it at closing. It is optional but highly recommended. 8. Attend the final walkthrough to be sure all repairs (if any ) have been done. 9. Bring a certified check to closing for the estimated amount your lender has calculated on your Good Faith Estimate. Have the check made out to yourself so that you can endorse it over to the attorney at closing. You can obtain a certified check from your bank. 10. Bring your drivers license and a one year homeowner’s insurance policy to closing along with your certified check. Bring your personal checkbook for any overages you may need to pay or to purchase owner’s title insurance. 11. Attend closing at the attorney’s office. It should take less than an hour. NOTE: You can only lock in your interest rate once you have a contract on a property. The lender cannot lock it in without your express permission. Get it in writing (via email or fax) to ensure that you actually have locked in. It is up to you to lock in your rate. For more information contact: Joli Tripp
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