Real Estate

BUYERS CHECK LIST

This is the list I give my buyers to help them to make sure you get everything done the right way and in a timely manner.  Look over the 20 steps I have put together in this handy check list.

____1. Find the BUDGET WORKSHEET post. Gather your   financial records from the last year. Fill out the worksheet based on your records. Remember to always round up numbers. This is may be one of your most time consuming steps, but it is the most important for the long term peace in your new home. This is only for you to see.

____2. Go see a local lender to get pre-qualified. Bring your Budget Worksheet (as a reference for you) and verification of income and assets
* Earnings statements: W-2 forms, recent pay stubs and tax returns for the past two years;
* If you are self-employed: profit and loss statements and tax returns for current year and previous two years;
* Additional income: social security, overtime bonus, commission, interest income, veteran’s benefits and so on
* List of bank account numbers, the address of your bank branch, checking and savings account statements for the previous 2-3 months;
* List of savings bonds, stocks or investments and their approximate market values;
* Copies of titles to any motor vehicles that are paid in full.

____3. After receiving your pre-qualification letter from your lender, look at the Payment Chart in this packet. Find the interest rate your lender quoted. Scan to find the amount that fits into your budget and is under the amount you are pre-qualified for. This will be your top dollar when looking for your next home.
*****DO NOT OPEN ANY CREDIT ACCOUNTS UNTIL AFTER
CLOSING WITHOUT GETTING THE OKAY FROM YOUR
LENDER!!!

____4. Decide what you want your next home to be.
Fill in the blanks.
Price Range $___________-______

___bdrm

__baths

______sq ft range
within___miles to ___________

______acres

garage ___# stalls

Circle features you can’t live without. Check features that are desired.

vaulted ceilings          tray ceilings        hardwood floors                     crown moulding                      unfinished space            basement
rec room             media room                    office            mud room  large laundry room         kitchen with island        granite       pantry mstr on main floor           One level               split fl plan
formal dining room             outdoor living            paved driveway fenced yard                  large yard view         pool                          gated subdivision              community pool            playground waterfront
Write any other special stipulations here.

____5. Go over all of this with me (your Realtor). Let me find some homes that best fit your search criteria. Then out of the listings found, decide which ones you want to look at. I will set up appointments for us to see those ASAP.

____6. Decision time! Which home do you want to purchase? Let’s get together and write an offer. After we write it, I will go over it with my broker to double and triple check for any errors or omissions. Once we have cleared it, I will give you a copy and submit it to the
seller’s agent.

____7. Seller responds. If they counter, we will either accept, decline, or counter until an agreement has been made or we walk away to find another home.

____8. Copies of the contract are given to buyers, sellers, agents, and lenders.

____9. Set up all inspections to be done ASAP. Be present for inspections if at all possible.

____10. Review inspection reports and decide what you want the sellers to repair. Fill out a Repair Proposal and submit it to the sellers with a copy of the inspection reports. Sellers will have a chance to accept, decline, or counter as with the offer. Once agreement has been made everyone again receives copies. There will be a time limit for the repairs to be done. Once the repairs are complete we will go to the home to verify that they have been done as
agreed upon.

____11. Remove any other contingencies.

____12. Set up home owners insurance.

____13. Check in with lender frequently to see if there are any forms that they need from you and fill them out immediately.

____14. Decide who will provide title insurance. Call and set up a closing time. Give them a copy of the contract.

____16. CLOSING COSTS. On the day of closing, ask your lender for the exact amount of money that you need to bring to the closing table. Get a cashier’s check for that exact amount.

_____17. What to bring to closing… cashier’s check, photo identification, paperwork from insurance provider, lender’s contact information, and a copy of the contract.

____18. Show up on time to your closing office. Be prepared to sign lots of legal documents that are there to protect you.

____19. Collect all keys.

____20. Move in!