Get Copy of Insurance Binder Call insurance company and get a copy of the insurance binder faxed over so that you have it at closing. If you keep a communication log between you and all the parties you may want to print it an keep it in the Communication Log property file. Final Walk Through Coordinate your final walk through 1 to 2 days before closing. Escrow will usually send this a day before the closing and you need to verify everything on the Estimated Estimated HUD1 and Funds Needed for HUD1. If you are funding part of the purchase the property with your own funds call and get amounts that will Closing need to be brought to closing the day before the closing. DAY OF CLOSING Compare Preliminary HUD against Make sure negotiated figures are the same and that final HUD is acceptable to you and the bank if one is Final HUD involved. Make sure you have copies of all closing docs for your records. Deeds, mortgages, property insurance, title Review All Closing Docs insurance, keys etc. AFTER CLOSING Closing Statement Escrow will send you a closing statement 2 days after closing with any closing checks or extra funds. If you had to buy in your personal name for bank financing purposes make sure you transfer the property into Transfer Title your LLC or Corporation. Grant Deed Make sure the Grant deed gets recorded. Go through and make sure checklist is completely finished and prepare the closing folder and transfer it to the Prepare Closing Folder properties owned file. Post Closing Follow Up Send the seller or buyer a thank you letter and a testimonial request.
Get Copy of Insurance Binder Call insurance company and get a copy of the insurance binder faxed over so that you have it at closing. Communication Log If you keep a communication log between you and all the parties you may want to print it an keep it in the property file. Final Walk Through Coordinate your final walk through 1 to 2 days before closing. Estimated HUD1 and Funds Needed for Closing Escrow will usually send this a day before the closing and you need to verify everything on the Estimated HUD1. If you are funding part of the purchase the property with your own funds call and get amounts that will need to be brought to closing the day before the closing. DAY OF CLOSING Compare Preliminary HUD against Final HUD Make sure negotiated figures are the same and that final HUD is acceptable to you and the bank if one is involved. Review All Closing Docs Make sure you have copies of all closing docs for your records. Deeds, mortgages, property insurance, title insurance, keys etc. AFTER CLOSING Closing Statement Escrow will send you a closing statement 2 days after closing with any closing checks or extra funds. Transfer Title If you had to buy in your personal name for bank financing purposes make sure you transfer the property into your LLC or Corporation. Grant Deed Make sure the Grant deed gets recorded. Prepare Closing Folder Go through and make sure checklist is completely finished and prepare the closing folder and transfer it to the properties owned file. Post Closing Follow Up Send the seller or buyer a thank you letter and a testimonial request.
Escrow-Checklist-Desc.docx