Checklist Tags

These are the checklists related to Week 12.

These are the tasks for Week 12 of the Ultimate Nomad Checklist™.

Week 12 you're under Contract and preparing for Closing.

When you click on the task, you can also see the tags that task is filed under. You can also click on the tag to see other tasks with that tag.

  1. Review my "Future Narrative"
  2. Schedule on your calendar when you'll do this week's tasks from your Future Narrative
    You're much more likely to follow through on your goals if you plan out when you'll do the steps to achieve them.

    So, take a moment to schedule out on your calendar when you'll actually do the tasks for this week on your calendar. Make an appointment with yourself to do them. If you need to reschedule one, reschedule it (don't delete it).

    ASAPFirst Meeting: Your Real Estate GoalsUltimate Nomad ChecklistWeek 1Week 10Week 11Week 12Week 13Week 14Week 15Week 16Week 17Week 18Week 19Week 2Week 20Week 21Week 22Week 23Week 24Week 25Week 26Week 27Week 28Week 29Week 3Week 30Week 31Week 32Week 33Week 34Week 35Week 36Week 37Week 38Week 39Week 4Week 40Week 41Week 42Week 43Week 44Week 45Week 46Week 47Week 48Week 49Week 5Week 50Week 51Week 52Week 53Week 54Week 6Week 7Week 8Week 9

  3. Determine how you'll take Title to Property
    With the help of your Attorney and Accountant, determine how you will take title to the Property you're buying.

    Common choices include: severalty (for one person or entity), joint tenants or tenants in common.

    You'll need this to make an offer.

    Mark this task complete once you know how you'll take Title to the Property.

    ASAPUltimate Nomad ChecklistWeek 12Week 4Writing Offer: Info Required

  4. Provide Real Estate Broker with the info to write your offer
    Your Real Estate Broker will need certain information from you to be able to write your offer. Here's a list of some of the information they may need:

    • Offer price
    • Earnest Money amount (default to what Seller is asking in the MLS)
    • Who will pay the Closing Services Fee (usually around $300 to $400 depending on the Title Insurance Company)
    • If you're negotiating/insisting on choosing Title Insurance Company, then which Title Insurance Company you want to use.
    • Who pays for Appraisal (it is customary for Buyer to pay)
    • Who pays for Owner's Title Insurance Policy (it is customary for Seller to pay)
    • What Loan type or types are you considering using to finance the purchase?
    • How much Down Payment are you going to put down?
    • Any Additional Provisions you want added? Common ones might include: additional disclosures for Fort Collins (which we typically add for you by default), limited appraisal language, light or limited inspection language and asking for personal property (which may complicate your ability to get a Loan to cover those).
    • How much are you asking for in Seller Concessions?
    • Is there a property you must sell before you can buy this?
    • Are you offering the Seller a "Post-Closing Occupancy Agreement" to allow them to stay in the property beyond Closing?
    • What due diligence documents are you requesting?
    • What is your travel/work schedule like? Will it impact inspection? Will it impact Closing?

    Mark this task complete once you've emailed your Real Estate Broker the information they need above to write your offer.

    ASAPUltimate Nomad ChecklistWeek 12Week 4Writing Offer: Info Required

  5. IF NEW CONSTRUCTION: Consider the following extras
    If you're buying new construction consider that not all properties come with the same upgrades. Ask the following questions and if it is not included, considering adding it when you write your contract. Changes later to the contract often will cost you a change order fee from the builder so it is important to do it at the time of writing your offer.

    • Does it include Air Conditioning?
    • Does it include window blinds for the entire property? Some builder don't include any. Some include just a few windows.
    • Does it include backyard landscaping?
    • Does it include a fence?
    • Does it include all appliances? Refrigerator? Dishwasher? Stove? Microwave? Clothes washer? Clothes dryer?
    • Does it include garage door opener?

    ASAPNew ConstructionUltimate Nomad ChecklistWeek 12Week 4Writing Offer: Info Required

  6. IF NEW CONSTRUCTION: Consider the following for lot selection
    If you're buying new construction consider the following factors when selecting a lot to build on:

    • Does it face north? North facing lots often have icy front steps.
    • Does it get sunlight in the rooms you desire at the times of day you desire? This varies by person, so consider it for yourself.
    • Do you want a corner lot? Some people prefer not having another neighbor. Some people prefer not having to shovel two long sidewalks and having people walking on the side of their homes.
    • Is there a lot by open space or other desirable feature?
    • Is the lot by a busy street?
    • Is the lot on a street that most people will need to drive by to access the neighborhood?

    ASAPNew ConstructionUltimate Nomad ChecklistWeek 12Week 4Writing Offer: Info Required

  7. Complete "Loan Objection Deadline" checklist
  8. Complete "Buyer’s Credit Information Deadline" checklist
  9. IF OWNER FINANCING: Hire Attorney to help
    If you're getting Owner Financing (also known as Seller Financing) please hire an Attorney to get help. Your Real Estate Broker is not qualified, trained or allowed to assist with Owner Financing.

    Contract Deadline: Buyer's Credit Information DeadlineContract To Close: Loan and CreditFinancingOwner FinancingUltimate Nomad ChecklistWeek 10Week 11Week 12Week 13

  10. Complete "Disapproval of Buyer’s Credit Information Deadline" checklist
  11. IF OWNER FINANCING: Hire Attorney to help
    If you're getting Owner Financing (also known as Seller Financing) please hire an Attorney to get help. Your Real Estate Broker is not qualified, trained or allowed to assist with Owner Financing.

    Contract Deadline: Disapproval of Buyer's Credit Information DeadlineContract To Close: Loan and CreditFinancingOwner FinancingUltimate Nomad ChecklistWeek 10Week 11Week 12Week 13

  12. Complete "Existing Loan Documents Deadline" checklist
  13. IF EXISTING LOAN REMAINING IN PLACE AFTER SALE: Hire Attorney to help
    If you're buying a property and the Seller's loan is remaining in place after the sale (also known as buying a property Subject To the existing financing) please hire an Attorney to get help. Your Real Estate Broker is not qualified, trained or allowed to assist with these types of transactions.

    Contract Deadline: Existing Loan Documents DeadlineContract To Close: Loan and CreditFinancingOwner FinancingUltimate Nomad ChecklistWeek 10Week 11Week 12Week 13

  14. Complete "Existing Loan Documents Objection Deadline" checklist
  15. IF EXISTING LOAN REMAINING IN PLACE AFTER SALE: Hire Attorney to help
    If you're buying a property and the Seller's loan is remaining in place after the sale (also known as buying a property Subject To the existing financing or assuming the loan) please hire an Attorney to get help. Your Real Estate Broker is not qualified, trained or allowed to assist with these types of transactions.

    Contract Deadline: Existing Loan Documents Objection DeadlineContract To Close: Loan and CreditFinancingOwner FinancingUltimate Nomad ChecklistWeek 10Week 11Week 12Week 13

  16. Complete "Loan Transfer Approval Deadline" checklist
  17. IF EXISTING LOAN REMAINING IN PLACE AFTER SALE: Hire Attorney to help
    If you're buying a property and the Seller's loan is remaining in place after the sale (also known as buying a property Subject To the existing financing or assuming the loan) please hire an Attorney to get help. Your Real Estate Broker is not qualified, trained or allowed to assist with these types of transactions.

    Contract Deadline: Loan Transfer Approval DeadlineContract To Close: Loan and CreditFinancingOwner FinancingUltimate Nomad ChecklistWeek 10Week 11Week 12Week 13

  18. Complete "Seller or Private Financing Deadline" checklist
  19. IF OWNER FINANCING: Hire Attorney to help
    If you're buying a property and you are getting Owner Financing or Private Financing please hire an Attorney to get help. Your Real Estate Broker is not qualified, trained or allowed to assist with these types of transactions.

    Contract Deadline: Seller or Private Financing DeadlineContract To Close: Loan and CreditFinancingOwner FinancingUltimate Nomad ChecklistWeek 10Week 11Week 12Week 13

  20. Verify acceptable funds with Title Insurance Company
    Verify with the Title Insurance Company whether they will accept a cashier's check for closing or if you will be required to wire funds for closing.

    IMPORTANT NOTE: If you are wiring money to the Title Insurance Company for Closing you should always get wiring instructions straight from them by calling them. Do NOT rely on emailed wiring instructions without verifying them by calling the Title Insurance Company or in person.

    Closing: Prepare For ClosingContract Deadline: Closing DateDown PaymentUltimate Nomad ChecklistWeek 12

  21. IF YOU WANT TO READ EVERY DOCUMENT: Read closing documents prior to Closing
    Some clients want to read, word-for-word, every document at Closing. If this is you, let us know as soon as possible and we can try to request a copy of the entire closing document package so you can read them in advance of Closing.

    Then, at Closing, you can quickly compare them to the ones you've read to make sure they're the same ones and sign them.

    Only about 1 in 50 clients do this so it is relatively uncommon.

    Closing: Prepare For ClosingContract Deadline: Closing DateDown PaymentUltimate Nomad ChecklistWeek 12

  22. REAL ESTATE BROKER: Coordinate with Lender and Title Insurance Company amount you need for Closing
    Your Real Estate Broker should coordinate with your Lender and the Title Insurance Company to find out how much you'll need to bring to Closing.

    Great Lenders will do this for their clients as well. Some don't.

    Closing: Prepare For ClosingContract Deadline: Closing DateDown PaymentUltimate Nomad ChecklistWeek 12

  23. REAL ESTATE BROKER: Coordinate and scheduling Closing time
    Your Real Estate Broker should coordinate with you, the Seller, Seller's Real Estate Broker and Title Insurance Company to schedule a time for Closing.

    Closing: Prepare For ClosingContract Deadline: Closing DateDown PaymentUltimate Nomad ChecklistWeek 12

  24. REAL ESTATE BROKER: Coordinate and scheduling final walkthrough
    Your Real Estate Broker should schedule a final walkthrough of the property just prior to Closing.

    Closing: Prepare For ClosingContract Deadline: Closing DateDown PaymentUltimate Nomad ChecklistWeek 12

  25. REAL ESTATE BROKER: Review and approve Settlement Statement
    Your Real Estate Broker should review your Settlement Statement to check to make sure it matches the terms of your "Contract to Buy and Sell Real Estate" that was agreed to and, additionally, verify the pro-rations.

    Your Real Estate Broker will not know the terms and agreed to expenses of your loan so you'll want to review those numbers with your Lender.

    Closing: Prepare For ClosingContract Deadline: Closing DateDown PaymentUltimate Nomad ChecklistWeek 12

  26. Review expenses related to your loan with your Lender
    Your Real Estate Broker will not know the terms and agreed to expenses of your loan so you'll want to review those numbers with your Lender.

    This is usually done a few days prior to Closing in an ideal world with a great Lender. Often, it happens the day before or even the day of Closing. Some less-than-great Lenders never do it unless you insist they go over it with you.

    Closing: Prepare For ClosingContract Deadline: Closing DateDown PaymentUltimate Nomad ChecklistWeek 12

  27. IF TENANT OCCUPIED: REAL ESTATE BROKER: Provide an "Assignment of Leases"
    If you have a tenant in the property and you're buying the property with a lease in place, your Real Estate Broker should provide you with an "Assignment of Leases" that assign the rights of the current Landlord to you at Closing.

    Closing: Prepare For ClosingContract Deadline: Closing DateDown PaymentUltimate Nomad ChecklistWeek 12

  28. Schedule babysitter to watch kids for Closing
    You'll want your full attention for the hour or so it takes for Closing, so please schedule a babysitter to watch your kids during your scheduled Closing time.

    Closing: Prepare For ClosingContract Deadline: Closing DateUltimate Nomad ChecklistWeek 12

  29. Schedule time off from work for final walkthrough and Closing
    Walking through the property before Closing takes about 5 minutes, but you'll need time to travel there and the to Closing as well. Closing will take about an hour, so please schedule time off from work to accommodate your Closing time.

    Closing: Prepare For ClosingContract Deadline: Closing DateUltimate Nomad ChecklistWeek 12

  30. Complete final walkthrough of property just prior to Closing
    We recommend you walk through the property for about 5 minutes just prior to Closing to make sure that the property is still standing. This is NOT another inspection, but just a quick check to make sure all is how it should be.

    We like to schedule this just prior to Closing so about 30 minutes or an hour before Closing depending on how far the property is from the location for Closing.

    You'll usually meet your Real Estate Broker at the property for this final walkthrough prior to Closing then head directly over to Closing after.

    Closing: Prepare For ClosingContract Deadline: Closing DateUltimate Nomad ChecklistWeek 12

  31. Complete "Closing" checklist
  32. Read "Closing: Prepare For Closing"
  33. Determine your Photographer
    You will want a Photographer to take professional photos of the property while it is vacant before you move in if this is a Nomad property or before a tenant moves in if this is a partnership purchase or a non-owner-occupant purchase.

    We recommend that you have photos taken right after you close before you move in in almost all cases. You will use these photos when you're marketing the property to rent.

    Ask your Real Estate Broker for a recommendation.

    Mark this task as complete once you've decided which Photographer you will use to take photographs of the property after you close.

    Dream TeamDream Team - Post-ClosingDream Team - Pre-ClosingMarketingUltimate Nomad ChecklistWeek 12Week 64

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