Checklist Tasks

Read the "What is Nomad?" blog post on

https://RealEstateFinancialPlanner.com/nomad/

Nomad BasicsUltimate Nomad ChecklistWeek 1

Read "Nomad on $10 Per Hour" blog post:

https://RealEstateFinancialPlanner.com/nomad-on-10-per-hour/

Mark this done when complete.

Nomad BasicsOptional

Complete the "Before" checklist for tasks that you should do before you start buying a property:

https://RealEstateFinancialPlanner.com/before/

ASAPBefore ChecklistsUltimate Nomad ChecklistWeek 1

Complete the "Buying Process Overview" checklist:

https://RealEstateFinancialPlanner.com/buying-process-overview/

Before ChecklistsBuying Process OverviewDuring ChecklistsOptionalUltimate Nomad ChecklistWeek 1

Watch the recording of the live presentation of "Get Your First Deal Done" available on:

https://RealEstateFinancialPlanner.com/get-your-first-deal-done/

ASAPBuying Process OverviewClassesGet Your First Deal DoneNomad BasicsUltimate Nomad ChecklistWeek 1

Watch the recording of the live presentation of "Buying Process Overview for Nomads" available on:

https://RealEstateFinancialPlanner.com/buying-process-overview/

ASAPBuying Process OverviewClassesGet Your First Deal DoneNomad BasicsOptionalUltimate Nomad ChecklistWeek 1

Read "Benefits of Becoming a Client" blog post on:

https://RealEstateFinancialPlanner.com/benefits-of-becoming-a-client/

ASAPBuying Process OverviewOptionalUltimate Nomad ChecklistWeek 1

Meet with James for lunch to discuss working with him. You can request a meeting by scheduling an appointment on his calendar:

https://JamesOrr.com/meet/

Mark this task as done once you've selected a Real Estate Broker to work with.

ASAPBuying Process OverviewDream TeamDream Team - Pre-ClosingUltimate Nomad ChecklistWeek 1

Complete the "First Meeting" checklist:

https://RealEstateFinancialPlanner.com/first-meeting/

Buying Process OverviewFirst MeetingOptionalUltimate Nomad ChecklistWeek 1

For clients buying and/or selling a home with me in Northern Colorado, I usually give them a copy of the original "Nomad" book at the first meeting.

Others can see a copy of it at:

https://www.amazon.com/Nomad-Mr-James-Orr/dp/1518868959/

Local clients... mark complete when you've received a copy of the book. Others can mark this complete.

First MeetingUltimate Nomad ChecklistWeek 1

For my clients buying and/or selling a home with me in Northern Colorado, I usually give them a copy of the "Northern Colorado Real Estate Advisor" book at the first meeting.

Others can see a copy of it at:

https://www.amazon.com/Northern-Colorado-Real-Estate-Advisor/dp/1512173142/

Local clients... mark complete when you've received a copy of the book. Others can mark this complete.

First MeetingUltimate Nomad ChecklistWeek 1

Clients buying and/or selling a home with me in Northern Colorado also get free Premium Nomad access.

Register for a free account:

https://RealEstateFinancialPlanner.com/free/

Then, email me at [email protected] to let me know what email address you used to register on RealEstateFinancialPlanner.com. In that same email, ask me to upgrade you to Premium Nomad.

Once I manually upgrade you, I will reply back and you will be able to access the Premium Nomad content including dynamic checklists (like this one you're reading right now), Nomad Calculator and recordings of over 40 Nomad classes.

First MeetingUltimate Nomad ChecklistWeek 1

Complete the "First Meeting: Paperwork" checklist:

https://RealEstateFinancialPlanner.com/paperwork/

ASAPFirst MeetingFirst Meeting: PaperworkUltimate Nomad ChecklistWeek 1

If you have not done so recently, review the "Benefits of Becoming a Client" blog post on:

https://RealEstateFinancialPlanner.com/benefits-of-becoming-a-client/

ASAPFirst Meeting: PaperworkOptionalUltimate Nomad ChecklistWeek 1

Sign up for Dropbox with "Extended Version History" feature at:

https://Dropbox.com

"Extended Version History" keeps copies of old versions of your files longer than just 30 days in case you accidentally delete something and don't realize it right away.

AccountingASAPBookkeepingBookkeeping and Accounting for NomadsComputer SetupFirst Meeting: PaperworkOptionalUltimate Nomad ChecklistWeek 1

Once you've signed up for Dropbox make sure it is installed and working on your computer for saving all your real estate related files.

Here is the recommend folder structure for Nomads to be setup inside Dropbox:

• "REI Folders"
• Folder for each property and LLC/major entity
• Example: "Main St LLC" (one folder for each LLC/major entity)
• Example: "1234 Main Street" (one folder for each property)
• "1. Purchase Docs"
• "YYYY-MM-DD - PROPERTY STREET ADDRESS - FILE DESCRIPTION.pdf"
• Example: "2018-04-21 - 1234 Main St - Buyer Settlement Statement.pdf"
• "1.1 Refinance" (if applicable, but make it now)
• "2. Trust Docs"
• "3. Property Info"
• "4. Mortgage"
• "5. Taxes"
• "6. Insurance"
• "7. HOA"
• "8. Expenses"
• "9. Tenant and Property Mgmt Info"
• Example: "Smith, John and Suzy" (one for each tenant group)

Mark this task complete once you've set up Dropbox and your folder system within Dropbox on your computer.

AccountingASAPBookkeepingBookkeeping and Accounting for NomadsComputer SetupFirst Meeting: PaperworkOptionalUltimate Nomad ChecklistWeek 1

If you're going to have the paperwork for working with your Real Estate Broker, Contract to Buy and Sell Real Estate, or any other paperwork you might sign reviewed by an Attorney before you sign it, you may want to determine who that Attorney will be.

This Attorney will also probably prepare or review your Lease.

Ask your Real Estate Broker for a recommendation.

Mark this task as complete once you've decided which Contract and Paperwork Attorney you will use to help review your legal documents or if you're qualified to review them yourself.

Asset ProtectionDream TeamDream Team - Pre-ClosingFirst Meeting: PaperworkLeasePaperworkUltimate Nomad ChecklistWeek 1

Receive a copy of "Definitions of Working Relationships" or whatever the equivalent is in your local real estate market.

James usually provides this via DocuSign for you to sign electronically along with:

• "Exclusive Right-To-Buy Listing Contract"
• "Professional Services Provided"
• "Brokerage Disclosure Regarding New Construction"

Mark this task complete once you've received it.

First Meeting: PaperworkPaperworkUltimate Nomad ChecklistWeek 1

Read the "Definitions of Working Relationships" to prepare to discuss it with your Real Estate Broker.

Mark this task complete once you've read it.

First Meeting: PaperworkPaperworkUltimate Nomad ChecklistWeek 1

Discuss the "Definitions of Working Relationships" with your Real Estate Broker including:

• That there are several ways you can work with a Real Estate Broker: where they represent the buyer, where they represent the seller and where they act more like a referee not representing either buyer or seller but helping coordinate the purchase and sale.
• If you want a Real Estate Broker to represent you as a Buyer, you will need an "Exclusive Right-To-Buy Listing Contract".
• James prefers to work with you as a Buyer's Agent when buying so he can represent you and your best interest and give you advice throughout the transaction and beyond.
• If you refuse to sign one, I will need to mark down that I gave you a copy and that you refused to sign.

Mark this task as complete when you understand the "Definitions of Working Relationships".

First Meeting: PaperworkPaperworkUltimate Nomad ChecklistWeek 1

Your Real Estate Broker will typically send over the "Definitions of Working Relationships" with the other documents for you to sign via DocuSign.

Sign these by click on the link in your email and you will receive a copy of the signed documents via DocuSign.

Mark this task as complete when you've signed your documents from your Real Estate Broker via DocuSign.

First Meeting: PaperworkPaperworkUltimate Nomad ChecklistWeek 1

Save copy of "Definitions of Working Relationships" to your Dropbox folder using the filename format of:

"YYYY-MM-DD - YOUR NAME - Definitions of Working Relationships.pdf"

Where YYYY = the year, MM = the two digit month, DD = the two digit day of the month and YOUR NAME is your actual name.

For example, mine might look like this:

"2019-04-03 - James Orr - Definitions of Working Relationships.pdf"

Mark as complete when you've saved it to your Dropbox.

ASAPFirst Meeting: PaperworkNew ConstructionPaperworkUltimate Nomad ChecklistWeek 1

Receive a copy of Exclusive Right-To-Buy Listing Contract or whatever the equivalent is in your local real estate market.

James usually provides this via DocuSign for you to sign electronically along with:

• "Definitions of Working Relationships"
• "Professional Services Provided"
• "Brokerage Disclosure Regarding New Construction"

Mark this task complete once you've received it.

First Meeting: PaperworkPaperworkUltimate Nomad ChecklistWeek 1

Read the "Exclusive Right-To-Buy Listing Contract" to prepare to discuss it with your Real Estate Broker.

Mark this task complete once you've read it.

First Meeting: PaperworkPaperworkUltimate Nomad ChecklistWeek 1

Discuss the "Exclusive Right-To-Buy Listing Contract" with your Real Estate Broker including the following:

• Your obligations in the "Exclusive Right-To-Buy Listing Contract".
• Your Real Estate Broker's obligations in the "Exclusive Right-To-Buy Listing Contract".
• The term of the agreement. I prefer to use 1 year or when you a buy a home, whichever comes first. Of course, see the note about terminating early below.
• The types of houses and service area your Real Estate Broker is to show you.
• How your Real Estate Broker is paid and why we often say the Buyer is obligated to pay (it is so we can negotiate getting the payment from the Seller or Seller's Broker).
• How to terminate if your not happy with your Real Estate Broker. 99% of my agreements are written such that a Buyer can terminate with just an email to me at any time.

Mark this task as complete when you understand the "Exclusive Right-To-Buy Listing Contract".

First Meeting: PaperworkPaperworkUltimate Nomad ChecklistWeek 1

Your Real Estate Broker will typically send over the "Exclusive Right-To-Buy Listing Contract" with the other documents for you to sign via DocuSign.

Sign these by click on the link in your email and you will receive a copy of the signed documents via DocuSign.

Mark this task as complete when you've signed your documents from your Real Estate Broker via DocuSign.

First Meeting: PaperworkPaperworkUltimate Nomad ChecklistWeek 1

Save copy of "Exclusive Right-To-Buy Listing Contract" to your Dropbox folder using the filename format of:

"YYYY-MM-DD - YOUR NAME - Exclusive Right-To-Buy Listing Contract.pdf"

Where YYYY = the year, MM = the two digit month, DD = the two digit day of the month and YOUR NAME is your actual name.

For example, mine might look like this:

"2019-04-03 - James Orr - Exclusive Right-To-Buy Listing Contract.pdf"

Mark as complete when you've saved it to your Dropbox.

ASAPFirst Meeting: PaperworkNew ConstructionPaperworkUltimate Nomad ChecklistWeek 1

Receive a copy of "Brokerage Disclosure Regarding New Construction" (also known as "Risks of New Construction").

James usually provides this via DocuSign for you to sign electronically along with:

• "Definitions of Working Relationships"
• "Exclusive Right-To-Buy Listing Contract"
• "Professional Services Provided"

Mark this task complete once you've received it.

ASAPFirst Meeting: PaperworkNew ConstructionPaperworkUltimate Nomad ChecklistWeek 1

Read "Brokerage Disclosure Regarding New Construction":

https://RealEstateFinancialPlanner.com/brokerage-disclosure-regarding-new-construction/

Mark this task as complete when you've read it.

ASAPFirst Meeting: PaperworkNew ConstructionPaperworkUltimate Nomad ChecklistWeek 1

Discuss the "Brokerage Disclosure Regarding New Construction" with your Real Estate Broker.

• The contracts that builders use are typically different than the contract the we use when buying a resale home from a Seller in the MLS or a FSBO.
• The builder contracts tend to be very pro-builder whereas the contract we use elsewhere tends to be pro-Buyer.
• Each builder contract is unique to each builder and is written usually by their attorney. Real Estate Brokers do not get training on the builder's contract and so we rely on the builder to explain it. If you have questions you may want to hire your own attorney to review it.

Mark this task as complete when you feel you understand the "Brokerage Disclosure Regarding New Construction".

ASAPFirst Meeting: PaperworkNew ConstructionPaperworkUltimate Nomad ChecklistWeek 1

Your Real Estate Broker will typically send over the "Brokerage Disclosure Regarding New Construction" with the other documents for you to sign via DocuSign.

Sign these by click on the link in your email and you will receive a copy of the signed documents via DocuSign.

Mark this task as complete when you've signed your documents from your Real Estate Broker via DocuSign.

First Meeting: PaperworkPaperworkUltimate Nomad ChecklistWeek 1

Save copy of "Brokerage Disclosure Regarding New Construction" to your Dropbox folder using the filename format of:

"YYYY-MM-DD - YOUR NAME - Brokerage Disclosure Regarding New Construction.pdf"

Where YYYY = the year, MM = the two digit month, DD = the two digit day of the month and YOUR NAME is your actual name.

For example, mine might look like this:

"2019-04-03 - James Orr - Brokerage Disclosure Regarding New Construction.pdf"

Mark as complete when you've saved it to your Dropbox.

ASAPFirst Meeting: PaperworkNew ConstructionPaperworkUltimate Nomad ChecklistWeek 1

Complete the "First Meeting: Professional Services Provided" checklist:

https://RealEstateFinancialPlanner.com/professional-services-provided/

ASAPFirst MeetingFirst Meeting: Professional Services ProvidedUltimate Nomad ChecklistWeek 1

Receive a copy of "Professional Services Provided".

James usually provides this via DocuSign for you to sign electronically along with:

• "Definitions of Working Relationships"
• "Exclusive Right-To-Buy Listing Contract"
• "Brokerage Disclosure Regarding New Construction"

Mark this task complete once you've received it.

ASAPFirst Meeting: Professional Services ProvidedPaperworkProfessional Services ProvidedUltimate Nomad ChecklistWeek 1

Read "Professional Services Provided".

ASAPFirst Meeting: Professional Services ProvidedPaperworkProfessional Services ProvidedUltimate Nomad ChecklistWeek 1

Discuss the "Professional Services Provided" with your Real Estate Broker.

ASAPFirst Meeting: Professional Services ProvidedPaperworkProfessional Services ProvidedUltimate Nomad ChecklistWeek 1

Your Real Estate Broker will typically send over the "Professional Services Provided" with the other documents for you to sign via DocuSign.

Sign these by click on the link in your email and you will receive a copy of the signed documents via DocuSign.

Mark this task as complete when you've signed your documents from your Real Estate Broker via DocuSign.

First Meeting: Professional Services ProvidedPaperworkUltimate Nomad ChecklistWeek 1

Save copy of "Professional Services Provided" to your Dropbox folder using the filename format of:

"YYYY-MM-DD - YOUR NAME - Professional Services Provided.pdf"

Where YYYY = the year, MM = the two digit month, DD = the two digit day of the month and YOUR NAME is your actual name.

For example, mine might look like this:

"2019-04-03 - James Orr - Professional Services Provided.pdf"

Mark as complete when you've saved it to your Dropbox.

ASAPFirst Meeting: Professional Services ProvidedNew ConstructionPaperworkUltimate Nomad ChecklistWeek 1

Complete the "First Meeting: Your Real Estate Goals" checklist:

https://RealEstateFinancialPlanner.com/your-real-estate-goals/

ASAPFirst MeetingFirst Meeting: Your Real Estate GoalsGoalsUltimate Nomad ChecklistWeek 1

Define your goal for your next Nomad property to move into that will ultimately become a rental after at least a year.

A suggestion might be: Purchase a Nomad property that will ultimately be a rental in the next 3 months.

ASAPFirst Meeting: Your Real Estate GoalsGoalsUltimate Nomad ChecklistWeek 1

Define your goal for your next owner-occupant property to move into.

A suggestion might be: Purchase an owner-occupant property that I will move into within the next 3 months.

ASAPFirst Meeting: Your Real Estate GoalsGoalsUltimate Nomad ChecklistWeek 1

Define your goal to buy an additional non-owner-occupant rental property without a partner.

A suggestion might be: Purchase an investment rental property (without a partner) in the next 3 months.

ASAPFirst Meeting: Your Real Estate GoalsGoalsUltimate Nomad ChecklistWeek 1

If this is for a partnership, define your partnership goal.

A suggestion might be: Purchase an investment rental property with a partner in the next 3 months.

ASAPFirst Meeting: Your Real Estate GoalsGoalsPartnershipsUltimate Nomad ChecklistWeek 1

During your meeting with your Real Estate Broker discuss your goals and your plan to achieve them.

Some common discussion points include:

• What you're committed to achieving (not just wishing you could achieve)
• Finding an owner occupant property
• Finding a Nomad property
• Nomad investing plan to acquire rentals and/or catch up for retirement
• Finding a buy and hold property
• Finding a properties where you can put a Lease-Option Tenant-Buyer in it
• Finding a fix and flip property
• Finding creative off-market transactions
• Model Nomad with calculator and on-going discussions
• Clients can schedule a time with me to discuss their personal goals regularly

Mark this task as complete when you've discussed your goals with your Real Estate Broker.

ASAPFirst Meeting: Your Real Estate GoalsGoalsUltimate Nomad ChecklistWeek 1

Take an afternoon and create your own "Future Narrative" of what you'd like your life to look like.

Reference the following resources for more information: https://RealEstateFinancialPlanner.com/goal-setting-classes/

You'll be reviewing your "Future Narrative" weekly.

Mark this task as complete once you've created your own "Future Narrative".

ASAPFirst Meeting: Your Real Estate GoalsFuture NarrativeGoalsUltimate Nomad ChecklistWeek 1

Review your goals (at a minimum each month).

GoalsUltimate Nomad ChecklistWeek 10Week 14Week 18Week 2Week 22Week 26Week 30Week 34Week 38Week 42Week 46Week 50Week 54Week 6

Review my own "Future Narrative" to remind myself about my why, my how and what obstacles I am committed to overcoming.

Do this at a minimum once a month.

Mark this task as complete once you've reviewed your "Future Narrative" this month.

ASAPFuture NarrativeGoalsUltimate 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 55Week 56Week 57Week 58Week 59Week 6Week 60Week 61Week 62Week 63Week 64Week 7Week 8Week 9

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

Complete the "First Meeting: Financing" checklist:

https://RealEstateFinancialPlanner.com/financing/

ASAPFinancingFirst MeetingFirst Meeting: FinancingUltimate Nomad ChecklistWeek 1

Watch the recording of the live presentation of "Financing Nomad 101" available on:

https://RealEstateFinancialPlanner.com/financing-nomad-101/

This class covers the different types of financing available and which ones we consider for Nomad. It goes into detail on Down Payments and much more.

ASAPClassesFinancingFirst Meeting: FinancingGet Your First Deal DoneNomad BasicsUltimate Nomad ChecklistWeek 1

As a pre-curser to discussing the specific loan programs with your Lender, you may want to get a feel for some of the big picture loan types we use. Discuss these with your Real Estate Broker.

• Nothing down loans like USDA and VA. VA loans require VA benefits but can also be used to purchase single family homes, duplexes, triplexes and fourplexes if you owner occupy at least one of the units.
• Conventional financing like 1% down payment for your first owner occupant purchase, 3% down payment for purchases #2 and #3, then 5% down payment for purchases through #10
• FHA 3.5% down payment programs which can be used to purchase single family homes, duplexes, triplexes or fourplexes if you owner occupy at least one of the units. FHA is also one of the easiest loans to qualify for should you have some credit challenges.
• Non-owner-occupant loans with as little as 15% down payment with Private Mortgage Insurance (PMI) or 20% down payment without PMI.

FinancingFirst Meeting: FinancingUltimate Nomad ChecklistWeek 1

When you write an offer you'll need to come up with Earnest Money when you write the offer. It is typically applied as part of your Down Payment so it is NOT in addition to a Down Payment. It is typically about 1% of the purchase price but it is negotiated between Buyer and Seller.

Offering less Earnest Money than the Seller is asking for will typically weaken your offer.

That means for the following home prices, Earnest Money will typically be approximately:

• $100,000 home - $1,000 Earnest Money
• $200,000 home - $2,000 Earnest Money
• $300,000 home - $3,000 Earnest Money
• $400,000 home - $4,000 Earnest Money
• $500,000 home - $5,000 Earnest Money

If you're trying to buy a home with little or nothing down, it would help if you had Earnest Money to put up with your offer and if you did not use it at closing for Closing Costs, you could get a refund of your Earnest Money at Closing.

If you don't have Earnest Money, it will be harder to negotiate getting a Seller to accept your offer so we might need to be much more flexible in house selection to find a Seller willing to accept an offer with little or no Earnest Money.

Earnest MoneyFinancingFirst Meeting: FinancingUltimate Nomad ChecklistWeek 1

You'll typically need your Down Payment at the time of Closing, but the Lender will likely need to know the source of your Down Payment.

Your Earnest Money will apply toward your Down Payment (plus any closing costs you might have for your loan). For example, if you needed $15,000 for Down Payment and you put up $3,000 for Earnest Money, the $3,000 would apply toward the $15,000 so you would need $12,000 more for Closing plus any additional closings costs.

This is the time to start thinking about where you might get your Down Payment from and how much you have to work with.

Down PaymentFinancingFirst Meeting: FinancingUltimate Nomad ChecklistWeek 1

Once you have your contract accepted there are some common expenses you might need to pay while you're under contract and at Closing to buy the property.

Here are some examples and some really rough estimates of what they might cost:

• Home inspection (paid to Home Inspector you hire if you decide to hire one) - about $250 for interior only condo to $375-$500 for single family home, more for multi-family properties
• Radon test (paid to the person who does your radon test which may be your Home Inspector) - $100 to $200
• Sewer scope (paid to the Sewer Scope company) - $200 if there is a sewer cleanout or more if they need to go in through a toilet
• Meth test (paid to Industrial Hygienist) - $1,000 and up if you decide you want to test for meth.
• Mold test (paid to Industrial Hygienist) - $300 and up if you decide you want to test for mold.
• Appraisal (paid to the appraiser usually via your Lender) - usually about $500 to $800, can be much more if there is a rush fee, multiple trips or multi-family property
• Closing Services Fee (paid to Title Insurance Company for preparing and presenting all the paperwork for Closing) - usually about $300 and is negotiated in the contract as to who pays (Buyer or Seller or split 50/50)
• Loan Closing Fee (paid to Title Insurance Company for presenting your specific loan paperwork to you at Closing to get the loan) - typically about $350 (and not negotiated in Contract; it is a Buyer cost if they're getting a loan)
• Owner's Title Policy (paid to Title Insurance Company and typically required by lender to get the loan) - varies based on purchase price and time since last refinance but you can estimate about $1,200 for $300K property without a new loan in past 5 years. It is negotiated in Contract but it is common to negotiate to get the Seller to pay for this.
• Lender's Title Policy (paid to Title Insurance Company to insure the Lender for your loan) - typically about $400 to $500 depending on purchase price and this one is not negotiated in Contract and is always a Buyer expense.
• HOA Transfer Fee (paid to the HOA) - Who pays it is negotiated in the Contract. It ranges from $0 to $500 or more depending on the HOA. It is common to see about $250ish.
• HOA Status Letter Fee (paid to the HOA) - Who pays it is negotiated in the Contract. It ranges from $0 to $250 or more. It is common to see it about $150ish.
• HOA Capital (paid to the HOA) - The amount varies depending on the HOA, but it is a Buyer expense all the time. Buyer may get it back when they sell. It is common that it can be about one or two months of HOA dues but can vary widely from that.
• Condo Questionnaire (paid to HOA) - Usually if you're buying a condo and the lender requires it for the loan. It can vary a lot, so we'd need to call the HOA to find out the amount.

Some of these expenses are optional but strongly recommended like Inspection. Some of these expenses are optional and rarely done like meth tests. Some are negotiated in the Contract between Buyer and Seller like who pays the $300 or so Closing Services Fee or Owner's Title Policy. Some are required if you're getting a loan. Some you can ask the Lender to increase your interest rate (which will raise your monthly payment slightly) but give you a credit you can use to pay some of these up-front expenses; this allows you finance some of them over time. Sometimes, you can negotiate to get the Seller to pay some of them as Seller Concessions when you submit your offer.

Discuss these with James to talk about it especially before writing your offer if you're trying to minimize your out of pocket and buy a home with little or nothing down.

Down PaymentFinancingFirst Meeting: FinancingUltimate Nomad ChecklistWeek 1

Once you have your contract accepted you'll typically authorize your Lender to order the appraisal and pay for it.

Appraisals can run about $500 to $800.

Much more if there is a rush fee, multiple trips or multi-family property.

It is extremely rare (like I've never seen a Seller agree to it), but you can try to get Seller to pay for the appraisal when submitting your Contract. It is highly unlikely.

FinancingFirst Meeting: FinancingUltimate Nomad ChecklistWeek 1

If you've opted to freeze your credit to prevent identity theft, you'll need to unfreeze your credit to apply for your loan.

In some cases, I am hearing it is taking mailing in a copy of your request and a photo ID to unfreeze your credit, so you may want to get a jump start on this process before you formally apply.

Ask your lender which credit bureaus they pull credit from so you know which to unfreeze.

FinancingFirst Meeting: FinancingUltimate Nomad ChecklistWeek 1

Complete the "First Meeting: Receive Property Lists" checklist:

https://RealEstateFinancialPlanner.com/receive-property-lists/

ASAPFirst MeetingFirst Meeting: Receive Property ListsProperty SearchUltimate Nomad ChecklistWeek 1

Watch the recording of the live presentation of "Finding Properties for Nomads" available on:

https://RealEstateFinancialPlanner.com/finding-properties-for-nomads/

ASAPClassesFirst Meeting: Receive Property ListsGet Your First Deal DoneOptionalProperty SearchUltimate Nomad ChecklistWeek 1

Talk to your Real Estate Broker how receiving property list emails and MySite works.

Mark this task as complete once you've learned about receiving properties via email and using MySite.

ASAPFirst Meeting: Receive Property ListsGet Your First Deal DoneProperty SearchUltimate Nomad ChecklistWeek 1

Define what your acceptable property characteristics are. These are characteristics it is easy to search for in the MLS.

Examples include:

• Cities you'd be willing to invest in
• Minimum (and maybe maximum) number of bedrooms
• Garage or no garage
• Mobile homes? Condos? Townhomes? SFH? Multi-Family (2-4 units)? Commercial multi-family (5+ units)?
• Price? Minimum? Maximum?

Property age? New construction?

Discuss with your Real Estate Broker if you have questions.

Mark this task complete once you know your acceptable property characteristics.

ASAPFirst Meeting: Receive Property ListsUltimate Nomad ChecklistWeek 1

Send the investment criteria you determined in a previous task to your Real Estate Broker so they can set up a search in the MLS to send you properties.

Mark this task complete once you have sent your criteria to your Real Estate Broker.

Analyzing DealsASAPFirst Meeting: Receive Property ListsProperty SearchUltimate Nomad ChecklistWeek 1

Discuss with James why you should use ColoProperty.com to check any properties you find on other websites before contacting James about them.

Websites like Zillow, Realtor, Trulia, Redfin, etc can have inaccurate or delayed data.

ColoProperty.com is the direct interface to our local MLS and so it is the most up-to-date website for checking property status, pricing, etc.

If you're going to use other websites, please check ColoProperty.com before emailing James about it to make sure the info from those other websites is correct.

ASAPFirst Meeting: Receive Property ListsProperty SearchUltimate Nomad ChecklistWeek 1

Have your Real Estate Broker set you up to receive automatic property search emails with properties that match your criteria.

Usually this means telling your Real Estate Broker:

• Cities you'd consider (or in some cases parts of specific cities)
• Attached, detached or both
• Minimum beds and bathrooms
• Price max (and maybe a price minimum)
• Garage requirements
• Any other requirements that Real Estate Broker can set up a search for

Mark this complete once your Real Estate Broker has started to send you automatic property search emails.

ASAPFirst Meeting: Receive Property ListsProperty SearchUltimate Nomad ChecklistWeek 1

Complete the "First Meeting: Analyze Deals" checklist:

https://RealEstateFinancialPlanner.com/analyze-deals/

Analyzing DealsASAPFirst MeetingFirst Meeting: Analyze DealUltimate Nomad ChecklistWeek 1

Watch the recording of the live presentation of "Analyzing Deals 101: an Intro to Cash on Cash Return on Investment" available on:

https://RealEstateFinancialPlanner.com/cash-on-cash/

Analyzing DealsASAPCash FlowClassesFirst Meeting: Analyze DealNet Operating IncomeReturn On InvestmentUltimate Nomad ChecklistWeek 18Week 2

Watch the recording of the live presentation of "Analyzing a Deal with Brian's Spreadsheet" available on:

https://RealEstateFinancialPlanner.com/how-to-analyze-a-deal-with-brians-spreadsheet/

Analyzing DealsASAPCash FlowClassesFirst Meeting: Analyze DealGet Your First Deal DoneNomad BasicsUltimate Nomad ChecklistWeek 4Week 56

Define what your acceptable property characteristics are if you haven't already done so.

Remember, these are characteristics it is easy to search for in the MLS. Examples include:

• Cities you'd be willing to invest in
• Minimum (and maybe maximum) number of bedrooms
• Garage or no garage
• Mobile homes? Condos? Townhomes? SFH? Multi-Family (2-4 units)? Commercial multi-family (5+ units)?
• Price? Minimum? Maximum?

Property age? New construction?

Discuss with your Real Estate Broker if you have questions.

Mark this task complete once you know your acceptable property characteristics.

ASAPFirst Meeting: Analyze DealUltimate Nomad ChecklistWeek 1

Download a copy of Brian William's Deal Analysis Spreadsheet and save it to the Dropbox folder for this deal/purchase.

https://RealEstateFinancialPlanner.com/spreadsheet/

Analyzing DealsComputer SetupFirst Meeting: Analyze DealUltimate Nomad ChecklistWeek 2

Analyze properties daily as they come in from automatic property searches. Save a copy of Brian's Deal Analysis Spreadsheet for each deal you analyze in your Dropbox folder for this deal/purchase.

If the deal looks interesting after analyzing it, request a showing.

Mark this task complete once you've analyzed deals for the day.

Analyzing DealsCash FlowFirst Meeting: Analyze DealNet Operating IncomeUltimate Nomad ChecklistWeek 2Week 3Week 4Week 5Week 6Week 7Week 8

Read the "Net Operating Income" blog post on

https://RealEstateFinancialPlanner.com/net-operating-income/

Analyzing DealsASAPCash FlowFirst Meeting: Analyze DealNet Operating IncomeOptionalUnderstanding AppreciationWeek 18Week 3

Watch the recording of the live presentation of "Strategies to Get the Lowest Monthly Payment When Buying Real Estate" available on:

https://RealEstateFinancialPlanner.com/lowest-monthly-payment/

Analyzing DealsASAPCash FlowClassesFirst Meeting: Analyze DealMaking OffersUltimate Nomad ChecklistWeek 58Week 6

Decide which Insurance Agent you will use to insure your home purchase. You'll need this once you go under contract, but you'll want to do it earlier so you can get an estimate of insurance for analyzing deals.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on an Insurance Agent to use.

Analyzing DealsDream TeamDream Team - Pre-ClosingFirst Meeting: Analyze DealUltimate Nomad ChecklistWeek 2Week 61Week 9

Call your Insurance Agent and get an Insurance Quote estimate to use when analyzing properties using Brian's Deal Analysis Spreadsheet.

You'll modify this slightly based on the price of the property you're analyzing.

You may want to discuss with your Insurance Agent additional coverage for Loss of Rent.

Your Insurance Quote typically varies based on your credit score and the deductible amount you choose.

Mark this task complete when you have an insurance estimate to use when analyzing deals using Brian's Spreadsheet.

Analyzing DealsASAPFirst Meeting: Analyze DealNet Operating IncomeUltimate Nomad ChecklistWeek 2

If you're going to allow your Tenant-Buyer to select any property from the MLS where you'd buy it and then offer it to them on a Lease Option, then setup your search page on JamesOrr.com.

Talk to James to have him show you this and get it set up for you.

Mark this task complete when it is setup or if you decide you're not doing this.

Analyzing DealsASAPFirst Meeting: Analyze DealLease-OptionMarketingOptionalTenant-BuyersUltimate Nomad ChecklistWeek 2

If you're going to allow your Tenant-Buyer to select any property from the MLS where you'd buy it and then offer it to them on a Lease Option, then after James sets up your search page on JamesOrr.com you will want to customize with your specific investing criteria.

Mark this task complete when you've customized your Lease Option Search Page on JamesOrr.com.

Analyzing DealsASAPFirst Meeting: Analyze DealLease-OptionMarketingOptionalTenant-BuyersUltimate Nomad ChecklistWeek 2

If you're going to allow your Tenant-Buyer to select any property from the MLS where you'd buy it and then offer it to them on a Lease-Option, then after James sets up your search page on JamesOrr.com you may want to purchase and setup a custom domain name for it.

The custom domain name will allow you to use that domain name on your marketing and have it URL frame the page James set up for you.

Ask James and he can usually get you a domain name and set it up for you for about $10 per year.

Mark this task complete when you've purchased a custom domain and had it set up for your Lease-Option Search Page on JamesOrr.com.

Analyzing DealsASAPFirst Meeting: Analyze DealLease-OptionMarketingOptionalTenant-BuyersUltimate Nomad ChecklistWeek 2

Complete the "First Meeting: Write Offer" checklist:

https://RealEstateFinancialPlanner.com/write-offer/

ASAPFirst MeetingFirst Meeting: Write OfferMaking OffersUltimate Nomad ChecklistWeek 1

Watch the recording of the live presentation of "Making Strong Offers that Get Accepted" available on:

https://RealEstateFinancialPlanner.com/making-strong-offers-that-get-accepted/

ClassesFirst Meeting: Write OfferMaking OffersMarket StatsUltimate Nomad ChecklistWeek 59Week 7

Watch the recording of the live presentation of "Low Ball Offer Case Studies" available on:

https://RealEstateFinancialPlanner.com/low-ball-offer/

ASAPClassesFirst Meeting: Write OfferMarket StatsUltimate Nomad ChecklistWeek 59Week 7

Discuss with your Real Estate Broker what is required when you're ready to write an offer.

Here is most of what is required as a guide to discuss:

• Full name(s) as you want it to appear on title
• Offer price
• Seller concessions amount (if any)
• Earnest money amount and when it is due
• Down payment amount and when it is due
• Loan type or types you are considering to buy the property
• Days until you close
• Any dates and deadlines that are a concern from you that differ from the norm
• Loan pre-approval letter
• Who's paying the Closing Services Fee
• Any due diligence documents you require
• Anything you might want to do to make your offer stronger

Mark this task as complete once you understand what is required to write an offer when you're ready.

ASAPFirst Meeting: Write OfferUltimate Nomad ChecklistWeek 7

Receive a completed copy of the "Contract to Buy and Sell Real Estate" from your Real Estate Broker so you can see how it might look filled out in a generic way.

ASAPFirst Meeting: Write OfferUltimate Nomad ChecklistWeek 7

Read through the generic completed version of the "Contract to Buy and Sell Real Estate" with a pen and a highlighter. Highlight sections you have questions about and write down your questions on the contract itself.

Schedule time to meet with your Real Estate Broker, Attorney and CPA as needed to get your questions answered.

ASAPFirst Meeting: Write OfferUltimate Nomad ChecklistWeek 7

Once you've read through the "Contract to Buy and Sell Real Estate" and highlighted sections you have questions about, take your questions and meet with your Contract and Paperwork Attorney and go over your questions about the "Contract to Buy and Sell Real Estate".

Better to do this well before you have an offer you're about to make so you don't delay making your offer and miss out on a property you really want.

Mark this task as complete once you feel comfortable with the "Contract to Buy and Sell Real Estate".

ASAPFirst Meeting: Write OfferUltimate Nomad ChecklistWeek 7

Once you've read through the "Contract to Buy and Sell Real Estate" and highlighted sections you have questions about, take your questions and meet with your Real Estate Broker and go over your questions about the "Contract to Buy and Sell Real Estate".

Better to do this well before you have an offer you're about to make so you don't delay making your offer and miss out on a property you really want.

Mark this task as complete once you feel comfortable with the "Contract to Buy and Sell Real Estate".

ASAPFirst Meeting: Write OfferUltimate Nomad ChecklistWeek 7

Once you've read through the "Contract to Buy and Sell Real Estate" and highlighted sections you have questions about, take your tax related questions and meet with your CPA and go over your questions about the "Contract to Buy and Sell Real Estate".

Better to do this well before you have an offer you're about to make so you don't delay making your offer and miss out on a property you really want.

Mark this task as complete once you feel comfortable with the "Contract to Buy and Sell Real Estate".

ASAPFirst Meeting: Write OfferUltimate Nomad ChecklistWeek 7

Complete the "Pre-Showings" checklist:

https://RealEstateFinancialPlanner.com/pre-showings/

Buying Process OverviewDuring ChecklistsPre-ShowingsUltimate Nomad ChecklistWeek 2

Watch the recording of the live presentation of "Looking at Houses" available on:

https://RealEstateFinancialPlanner.com/looking-at-nomad-houses/

ClassesGet Your First Deal DoneNomad BasicsPre-ShowingsUltimate Nomad ChecklistWeek 3

Complete the "Pre-Showings: Qualify with Lender" checklist:

https://RealEstateFinancialPlanner.com/qualify-with-lender/

ASAPFinancingPre-ShowingsPre-Showings: Qualify with LenderUltimate Nomad ChecklistWeek 2

Ask your Real Estate Broker to suggest 3 possible Lenders to contact for financing your home purchase based on the types of loans you're considering.

You're welcome to use whichever Lender you choose (from the Real Estate Broker's recommendations or your own), however... you should realize that making sure your Lender performs if your responsibility.

In other words, if your Lender does not show up on the day of closing with the money for whatever reason, you are still in default on the "Contract to Buy and Sell Real Estate" (not your Lender) and you are at risk of losing your Earnest Money (and specific performance in the unlikely event that box is checked on the "Contract to Buy and Sell Real Estate"). Another way of saying this is: your Lender is not a party to the "Contract to Buy and Sell Real Estate" and so they have no consequences in the "Contract to Buy and Sell Real Estate" if they don't perform.

So, consider "testing" a new Lender carefully.

ASAPDream TeamDream Team - Pre-ClosingFinancingPre-Showings: Qualify with LenderUltimate Nomad ChecklistWeek 2

Talk to 3 Lenders to determine which one you'd like to use.

Ask your Real Estate Broker for recommendations.

Mark complete once you've talked to 3 Lenders of if you've already decided which Lender you plan to use.

ASAPDream TeamDream Team - Pre-ClosingFinancingPre-Showings: Qualify with LenderUltimate Nomad ChecklistWeek 2

Decide which Lender you will use to finance your purchase.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on a Lender to use.

Analyzing DealsASAPDream TeamDream Team - Pre-ClosingFinancingPre-Showings: Qualify with LenderUltimate Nomad ChecklistWeek 2

Make an application to get qualified for a loan with the Lender you've decided you're going to use.

Some people will opt to get quotes from multiple lenders. If you're going to do this, compare everyone on the same day so the rate is the same.

Also, have the Lender you think is most likely to be the one you'll go with pull your credit and then tell the other Lenders you're comparing what your credit score is. If you decide to go with them, you'll let them pull your credit then.

Your ultimate goal at this point is to get a pre-approval letter for the max amount you qualify for.

If you need a recommendation for a Lender ask your Real Estate Broker.

Mark this task complete once you've applied for a loan and been approved with the Lender you plan to use.

ASAPFinancingPre-Showings: Qualify with LenderUltimate Nomad ChecklistWeek 2Week 54

Understand what documents your lender will ultimately need to do your loan and start gathering and preparing those documents.

ASAPFinancingPre-Showings: Qualify with LenderUltimate Nomad ChecklistWeek 2Week 54

Find out what interest rate and what down payment amount you'll likely get when you get your loan.

You'll want to use this when you start to analyze properties using Brian's Spreadsheet.

ASAPFinancingPre-Showings: Qualify with LenderUltimate Nomad ChecklistWeek 2Week 54

If you're going to owner occupy the property especially, find what your estimated monthly payment will be for both your max loan that you can qualify for and the price you're comfortable with that you'll likely be buying at.

ASAPFinancingPre-Showings: Qualify with LenderUltimate Nomad ChecklistWeek 2Week 54

As soon as your "Contract to Buy and Sell Real Estate" is accepted, make sure your Lender has a copy so they can complete your application and start working on getting your financing approved and through under-writing.

ASAPFinancingUltimate Nomad ChecklistWeek 2Week 54

Complete the "Pre-Showings: Pre-approval Letter" checklist:

https://RealEstateFinancialPlanner.com/pre-approval-letter/

ASAPFinancingPre-ShowingsPre-Showings: Pre-approval LetterUltimate Nomad ChecklistWeek 2

Get Pre-Approval letter from Lender for the max you can afford. We will only use this if you're unable to reach your Lender and you want to submit an offer right away. Otherwise, we will ask your Lender for an updated "Lender Letter" for the exact Purchase Price.

Having a "Lender Letter" helps you get your offer accepted.

ASAPFinancingPre-Showings: Pre-approval LetterUltimate Nomad ChecklistWeek 2Week 54

Save a copy of your max "Lender Letter" to your Dropbox using the file format:

"YYYY-MM-DD - FULL NAME - Max Lender Pre-Approval Letter.pdf"

ASAPFinancingPre-Showings: Pre-approval LetterUltimate Nomad ChecklistWeek 2Week 54

Send a copy of your max "Lender Letter" to your Real Estate Broker.

ASAPFinancingPre-Showings: Pre-approval LetterUltimate Nomad ChecklistWeek 2Week 54

Complete the "Pre-Showings: Earnest Money" checklist:

https://RealEstateFinancialPlanner.com/earnest-money/

ASAPEarnest MoneyFinancingPre-ShowingsPre-Showings: Earnest MoneyUltimate Nomad ChecklistWeek 2

Discuss the typical amount of Earnest Money with your Real Estate Broker.

In Northern Colorado, Earnest Money is typically about 1% of the purchase price of the property but is negotiated between Buyer and Seller.

However, offering less Earnest Money than the Seller is requesting on the MLS listing is typically considered a weaker offer.

If you're buying a property with little or no money down (especially less than what Earnest Money would be), discuss with your Real Estate Broker some possible strategies for trying to get an offer accepted in this situations. It may be harder to get your offer accepted in these situations so you may need to be more flexible in the homes you're looking at until we find a more flexible Seller.

Mark this task done when complete.

ASAPEarnest MoneyFinancingMaking OffersPre-Showings: Earnest MoneyUltimate Nomad ChecklistWeek 2

You will need Earnest Money at the time you make your offer. It can vary and is negotiated but it is typically about 1% of the purchase price of the property you're going to buy. Earnest Money typically does count towards your Down Payment.

For a $300,000 property, that means you'll likely need about $3,000 for Earnest Money at the time you make your offer. Do you know where those funds are and are they readily accessible?

Discuss this with your Real Estate Broker if you have additional questions or concerns.

Mark this task done when complete.

ASAPEarnest MoneyFinancingMaking OffersPre-Showings: Earnest MoneyUltimate Nomad ChecklistWeek 2

Complete the "Pre-Showings: Down Payment" checklist:

https://RealEstateFinancialPlanner.com/down-payment/

ASAPDown PaymentPre-ShowingsPre-Showings: Down PaymentUltimate Nomad ChecklistWeek 2

Watch the recording of the live presentation of "How to Get Down Payment for Nomad" available on:

https://RealEstateFinancialPlanner.com/how-to-get-down-payment-for-nomad/

ASAPClassesDown PaymentFinancingNomad BasicsPre-Showings: Down PaymentUltimate Nomad ChecklistWeek 2

Ask your Lender to give you estimates on how much your Down Payment and Closing Costs will be with the loan you plan to use and the home price you're likely to look for. Make adjustments if needed to your plan.

Down PaymentFinancingPre-Showings: Down PaymentUltimate Nomad ChecklistWeek 2

Make sure that you know the source of your Down Payment and Closing Costs.

You will need at least the Earnest Money when you make your offer. You will need the Down Payment and Closing Costs for closing.

Discuss the timing with your Real Estate Broker and/or Lender if you have any concerns.

ASAPDown PaymentFinancingPre-Showings: Down PaymentUltimate Nomad ChecklistWeek 2

It is prudent to determine where you might get cash from if you need it to take care of unexpected expenses when buying a property as a Nomad or as a rental.

Take a moment to determine where your Cash Reserves are in cash you need money to maintain a property.

Mark this task complete once done.

ASAPCash ReservesPre-Showings: Down PaymentUltimate Nomad ChecklistWeek 2

If you're doing a partnership, you will want to determine with your partners how much you will want to keep in Cash Reserves for the Partnership.

If you're not doing a Partnership, you can skip this step, but it may also be helpful for you to think about the sources of your Cash Reserves are as well.

Mark this task complete once you've determined how much Cash Reserves you should have with your Partnership.

Cash ReservesPartnershipsPartnerships - SetupPre-Showings: Down PaymentUltimate Nomad ChecklistWeek 2

This step is highly unusual for Nomads, but... if you happen to be buying in the name of a new LLC and you've got a Master LLC, make sure you transfer money from your Master LLC to your Single Member LLC (SMLLC) for your Down Payment.

Mark this task complete once done or if you're not doing this.

ASAPCash ReservesPartnershipsPre-Showings: Down PaymentUltimate Nomad ChecklistWeek 2

Complete the "Pre-Showings: Mock Contract" checklist:

https://RealEstateFinancialPlanner.com/mock-contract/

ASAPPaperworkPre-ShowingsPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2

Watch the recording of the live presentation of "Contract To Buy and Sell in Detail" available on:

https://RealEstateFinancialPlanner.com/contract-to-buy-and-sell-real-estate-in-detail/

ASAPClassesPaperworkPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2

If you're going to have the "Contract to Buy and Sell Real Estate" (or any other paperwork you might sign) reviewed by an Attorney before you sign it, you may want to determine who that attorney will be.

Ask your Real Estate Broker for a recommendation.

Mark this task as complete once you've decided which Contract and Paperwork Attorney you will use to help review your legal documents or if you're qualified to review them yourself.

Asset ProtectionDream TeamDream Team - Pre-ClosingPaperworkPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 1

Read through the "Contract to Buy and Sell Real Estate". Highlight any sections you have questions about. Write down your questions.

Mark this task complete once you've read through the "Contract to Buy and Sell Real Estate". You'll be scheduling time to meet with your Contract and Paperwork Attorney, Accountant, Insurance Agent and/or your Real Estate Broker to have your questions answered in additional tasks.

ASAPPaperworkPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2

Read through the "Lead-Based Paint Disclosure". Highlight any sections you have questions about. Write down your questions.

You'll only need this if the property was built prior to January 1, 1978 but it is good to have reviewed it ahead of time so you understand it in case you look at properties built prior to this date.

Mark this task complete once you've read through the "Lead-Based Paint Disclosure". You can schedule time to meet with your Contract and Paperwork Attorney, Accountant, Insurance Agent and/or your Real Estate Broker to have your questions answered in additional tasks.

ASAPPaperworkPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2

Read through the "Source of Water Addendum". Highlight any sections you have questions about. Write down your questions.

Mark this task complete once you've read through the "Source of Water Addendum".

You can schedule time to meet with your Contract and Paperwork Attorney, Accountant, Insurance Agent and/or your Real Estate Broker to have your questions answered in additional tasks.

ASAPPaperworkPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2

Read through the "Seller's Property Disclosure" for the property you're considering making an offer on or after you've made the offer if the Seller failed to provide ahead of time.

Mark this task complete once you've read the "Seller's Property Disclosure".

ASAPMaking OffersPaperworkPre-Showings: Mock ContractSellers Property DisclosureUltimate Nomad ChecklistWeek 2Week 3Week 4Week 5Week 6Week 7Week 8Week 9

Read through the "Square Footage Disclosure" to see if you have any questions about information in that disclosure.

Mark this task complete once you've read the "Square Footage Disclosure".

ASAPMaking OffersPaperworkPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2Week 3Week 4Week 5Week 6Week 7Week 8Week 9

Read through the "Occupancy Limits Disclosure For Property Sale" to see if you have any questions about information in that disclosure.

Mark this task complete once you've read the "Occupancy Limits Disclosure For Property Sale".

ASAPMaking OffersPaperworkPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2Week 3Week 4Week 5Week 6Week 7Week 8Week 9

Meet with your Real Estate Broker to go over the highlighted sections of the "Contract to Buy and Sell Real Estate" and the additional disclosures. Ask your Real Estate Broker your questions about the "Contract to Buy and Sell Real Estate".

Mark this task complete once you understand the "Contract to Buy and Sell Real Estate" and feel comfortable with it.

ASAPPaperworkPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2

Meet with your Contract and Paperwork Attorney to go over the highlighted sections of the "Contract to Buy and Sell Real Estate" and any additional disclosures. Ask your Attorney your questions about the "Contract to Buy and Sell Real Estate".

Mark this task complete once you understand the "Contract to Buy and Sell Real Estate" and feel comfortable with it.

ASAPPaperworkPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2

Talk to 3 Accountants to determine which one you'd like to use.

Ask your Real Estate Broker for recommendations.

Mark complete once you've talked to 3 Accountants of if you've already decided which Accountant you plan to use.

AccountingASAPBookkeepingBookkeeping and Accounting for NomadsDream TeamDream Team - Pre-ClosingUltimate Nomad ChecklistWeek 2

Determine who you will as your accountant to help you with financial planning and completing your taxes.

Ask your Real Estate Broker for a recommendation.

Mark this task complete once you've determined who you'll use as your Accountant.

AccountingBookkeepingBookkeeping and Accounting for NomadsDream TeamDream Team - Pre-ClosingPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2Week 54

Meet with your Accountant to go over the highlighted sections of the "Contract to Buy and Sell Real Estate" and any additional disclosures. Ask your Accountant your questions about the "Contract to Buy and Sell Real Estate".

Mark this task complete once you understand the "Contract to Buy and Sell Real Estate" and feel comfortable with it.

ASAPPaperworkPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2

Complete the "Showings" checklist:

https://RealEstateFinancialPlanner.com/showings/

Buying Process OverviewDuring ChecklistsShowingsUltimate Nomad ChecklistWeek 3

Create a folder for this property purchase on your computer within Dropbox to stay organized.

Mark this task complete once you've created the folder.

ASAPComputer SetupShowingsUltimate Nomad ChecklistWeek 2Week 3Week 4Week 5Week 6Week 7Week 8Week 9

Complete the "Showings: Request Showing" checklist:

https://RealEstateFinancialPlanner.com/request-showing/

ShowingsShowings: Request ShowingUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8

Review properties as you receive them to see if it something that you would consider and should run your analysis using the deal analysis spreadsheet.

Showings: Request ShowingUltimate Nomad ChecklistWeek 2Week 3Week 4Week 5Week 6Week 7Week 8Week 9

Analyze properties daily as they come in from automatic property searches. Save a copy of Brian's Deal Analysis Spreadsheet for each deal you analyze in your Dropbox folder for this deal/purchase.

If the deal looks interesting after analyzing it, request a showing.

Mark this task complete once you've analyzed deals for the day.

Analyzing DealsCash FlowNet Operating IncomeShowings: Request ShowingUltimate Nomad ChecklistWeek 2Week 3Week 4Week 5Week 6Week 7Week 8

If the property looks interesting and you're considering it, create a property folder in your Dropbox folder.

Analyzing DealsNet Operating IncomeShowings: Request ShowingUltimate Nomad ChecklistWeek 2Week 3Week 4Week 5Week 6Week 7Week 8

If the property looks interesting and you're considering it save a copy of the deal analysis spreadsheet for this property to the property folder in Dropbox.

Use the file naming convention:

"YYYY-MM-DD - 1234 Main St - Analysis Spreadsheet.xlsx"

Where YYYY is the four digit year, MM is the two digit month, DD is the two digit day of the month and 1234 Main St is the street address of the property.

Analyzing DealsNet Operating IncomeShowings: Request ShowingUltimate Nomad ChecklistWeek 2Week 3Week 4Week 5Week 6Week 7Week 8

We are currently testing this as a service, but we've subscribed to a company where we can pull rental comparables for properties.

If you are analyzing a property and it looks interesting, you can email James and Tammy and ask them to pull rental comparables to see what fair market rent might be on the property.

Be sure to include the following in your email request:

• Address of the property
• Number of bedrooms (required to do rent comps)
• Whether it is a SFH or apartment (the two choices for rent comps)
• Whether you want just the report or the report and the CSV of the rent comps data if you plan to do some additional work on the data yourself in Excel

Analyzing DealsCash FlowNet Operating IncomeShowings: Request ShowingUltimate Nomad ChecklistWeek 2Week 3Week 4Week 5Week 6Week 7Week 8

If after analyzing the property it looks interesting, request a showing by emailing your Real Estate Broker.

TIP: If you're working with James and Tammy, be sure to email both of them since James may not be in his email and Tammy could setup up the showing before James will even be back in his email. If you just email James, he may not even see it until much later and then he'll typically forward it to Tammy to setup the showing.

Be sure to include:

• Property address
• MLS number if possible
• Your availability to be able to see the property (provided the Seller can accommodate that day and time)
• Any additional questions you might have about it (if any)

Analyzing DealsNet Operating IncomeShowings: Request ShowingUltimate Nomad ChecklistWeek 2Week 3Week 4Week 5Week 6Week 7Week 8

Complete the "Showings: Buyer Tour" checklist:

https://RealEstateFinancialPlanner.com/buyer-tour/

ShowingsShowings: Buyer TourUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8

Once you've requested a showing your Real Estate Broker should send you over a "Buyer Tour" as a PDF.

Mark this task as complete when you've received it.

Showings: Buyer TourUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8

Once you receive the "Buyer Tour" read through it to learn more about the property and surrounding area.

Showings: Buyer TourUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8

Save a copy of your "Buyer Tour" to the property folder in Dropbox.

Use the following file naming convention:

"YYYY-MM-DD - 1234 Main St - Buyer Tour.pdf"

Showings: Buyer TourUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8

If you want to bring a copy of the "Buyer Tour" with you to the Showing by printing a copy of it.

Showings: Buyer TourUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8

Complete the "Showings: MLS Sheet" checklist:

https://RealEstateFinancialPlanner.com/mls-sheet/

ShowingsShowings: MLS SheetUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8

Once you've requested a showing your Real Estate Broker should send you over the "MLS Sheet" as a PDF.

Mark this task as complete when you've received it.

Showings: MLS SheetUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8

Once you receive the "MLS Sheet" read through it to learn more about the property.

Showings: MLS SheetUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8

Save a copy of your "MLS Sheet" to the property folder in Dropbox.

Use the following file naming convention:

"YYYY-MM-DD - 1234 Main St - MLS Sheet.pdf"

Showings: MLS SheetUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8

If you want to print a copy of the "MLS Sheet" so you can bring a printed copy with you to the Showing.

Most Real Estate Brokers, like James, will bring a copy of the "MLS Sheet" for you to the Showing.

Showings: MLS SheetUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8

Complete the "Showings: Looking at Houses" checklist:

https://RealEstateFinancialPlanner.com/looking-at-houses/

Showings: Looking at HousesUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8

Review the recording of the live presentation of "Looking at Houses" available on:

https://RealEstateFinancialPlanner.com/looking-at-nomad-houses/

Get Your First Deal DoneNomad BasicsPre-ShowingsShowings: Looking at HousesUltimate Nomad ChecklistWeek 3

Discuss the following tips for when you go on Showings with your Real Estate Broker:

• Wear easy to remove shoes
• WARNING: Sellers can easily record audio (and video) of you while inside their home... don't say anything inside the home that you wouldn't say right in front of the Seller. This is especially true of offer price and strategy.
• Arrive 5 minutes early. Some Showing windows are very strict time ranges.
• There may be others present at the Showing.
• If Tenants are present, we typically will ask them questions about the property.
• Drive/walk around the neighborhood especially if you're interested in the property.
• Consider using the +/- system to make property notes.

Get Your First Deal DoneNomad BasicsPre-ShowingsShowings: Looking at HousesUltimate Nomad ChecklistWeek 3

Discuss the following with your Real Estate Broker when you you're out on a Showing and considering making an offer:

• Meet the neighbors... tell them you're considering making an offer on the property and ask them how they like the neighborhood.
• What appliances are included? Which are excluded?
• What school district is this in?
• Is the AC included? What type of heat is used in the property?
• Where is the water disconnect located?
• What is the age and likely need to replace or update the major, expensive items like:
  furnance, AC, roof, carpet, paint, hot water heater. You'll also check these during inspection.
• Where are the property lines?
• Is there adequate parking? Is it owned? Is there adequate garage spaces? Is it owned?
• What does the HOA cost? What is included?
• Is there anything from the current "Seller's Property Disclosure"?
• Is there anything from previous "Seller's Property Disclosure" from past sales?
• Where is the sewer cleanout?
• Are there smoke/CO detectors within 15 feet of each bedroom doorway?
• Does the house already have a radon mitigation system? Is it passive or active?
• Will you be having a property inspection (it is recommended)? Will you be testing for radon? Mold? Meth? Termiates? Sewer scope?
• If this is a condo, is it a warrantable or non-warrantable condo?
• What are the secret broker comments on the "MLS Sheet"?
• What due diligence documents are you going to want to see?
• Are there any additional documents provided by the Seller's agent in the MLS?

Get Your First Deal DoneNomad BasicsPre-ShowingsShowings: Looking at HousesUltimate Nomad ChecklistWeek 3

Watch the recording of the live presentation of "Nomad 101" available on:

https://RealEstateFinancialPlanner.com/nomad-101/

ASAPClassesNomad BasicsOptionalUltimate Nomad ChecklistWeek 5Week 57

Complete the "Writing Offer" checklist:

https://RealEstateFinancialPlanner.com/writing-offer/

Buying Process OverviewDuring ChecklistsUltimate Nomad ChecklistWeek 3Writing Offer

Complete the "Writing Offer: Pre-Offer Due Diligence" checklist:

https://RealEstateFinancialPlanner.com/pre-offer-due-diligence/

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing OfferWriting Offer: Pre-Offer Due Diligence

Before writing your offer, you may want to check-in with your Lender (especially if it has been awhile since you have) to verify the terms of the loan you plan to get.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Pre-Offer Due Diligence

Before writing your offer, you may want to double check with your Real Estate Broker how much you will need for Earnest Money.

Also, do you know what bank account or source of your Earnest Money will be?

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Pre-Offer Due Diligence

Before writing your offer, you may want to double check with your Lender how much you will need for your Down Payment with the loan program you're planning to use.

Plus, do you know where you'll be getting the Down Payment from? Double check with your Lender that the proposed source of your Down Payment will be fine with the loan program you plan to do. This is especially important if you are getting the Down Payment as a gift or from an account that does not have your name on it.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Pre-Offer Due Diligence

Before writing your offer, do you have Lender Letter with the exact amount of your offer price on it? If not, an offer without a Lender Letter or Proof of Funds is a very weak offer and not likely to be accepted so it is highly recommended that you get one prior to submitting your offer.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Pre-Offer Due Diligence

Before writing your offer, have you read the current "Seller's Property Disclosure"?

If the Seller has not provided one yet, are you going to request one in the "Contract to Buy and Sell Real Estate"?

Also, if there are copies of previous "Seller's Property Disclosures" from previous times the property was listed for sale, have you read those as well to see what previous Sellers disclosed about the property that maybe this one has not? You're Real Estate Broker can pull up old ones by looking in the MLS.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Pre-Offer Due Diligence

Before writing your offer, have you read the current "MLS Sheet" for this property?

Also, if is this property was listed for sale previously, have you read the prior "MLS Sheets" from previous Sellers?

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Pre-Offer Due Diligence

If this property is going to be a rental property, have you looked at rental comps?

If you're a client of James and Tammy, you can ask them to send you rental comps from the new service they subscribed to provide this to clients.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Pre-Offer Due Diligence

If this property is going to be a rental property, have you analyzed the property with Brian's spreadsheet?

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Pre-Offer Due Diligence

Before writing an offer, it might be a good idea to read through the public records history on the property to see if the property has an unusual past.

Examples of things you might be able to see by reading the public records history include that the property was a foreclosure, a fix and flip, or was seized by the IRS or DEA.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Pre-Offer Due Diligence

Before writing an offer, it might be a good idea to look at the flood zone map to see if the property is obviously in a flood zone.

If you get a loan, your Lender will do a complete Flood Zone Certification and if it is in a flood zone will likely require extra (often expensive) flood insurance.

Our preliminary check is to get an early warning that the property might be a flood zone.

Some areas have easily accessible flood zone maps like Larimer County. Weld County not quite as easy to find a flood map for.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Pre-Offer Due Diligence

Before writing an offer, you may also want to look at the listing history for the property.

How many times before was it listed for sale? For what price? Did it take a long time to sell? Have there been price drops? How many? Significant ones?

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Pre-Offer Due Diligence

In most cases you will not have access to the HOA documents until after you're under contract. However, in some cases you may have access before going under contract, so you may also want to read through the HOA docs.

Can you do what you plan to do with the property based on the HOA documents? Is the HOA well funded and has adequate cash reserves?

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Pre-Offer Due Diligence

Before making an offer, we strongly encourage your Real Estate Broker to call the Seller's Real Estate Broker to find out what is an ideal offer for the Seller.

If there are things you don't care about but that are important to the Seller, let's try to hit as many of those as possible in your offer.

If there are things that the Seller says are important you might be able to adjust your offer to make your offer even more attractive.

Your Real Estate Broker should also clarify the situation for the Seller and the property if possible.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Pre-Offer Due Diligence

Before making an offer discuss home warranties with your Real Estate Broker including:

• What they are?
• What they cost?
• What they cover?
• If you want to try to get the Seller to pay for one for you with your offer?

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Pre-Offer Due Diligence

Before making an offer on a new construction property it might be a good idea to discuss your lot selection with your Real Estate Broker.

Does the lot face north making it more likely to have ice on your driveway and walkways?
Is it a corner lot? Some people prefer corner lots; some people don't. You also need to shovel more sidewalk in the winter with a corner lot.
Is the lot near something positive like open space or a park?
Is the lot near something negative like the dump or oil drilling?

New ConstructionUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Pre-Offer Due Diligence

Before making an offer on a new construction property it might be a good idea to discuss which upgrades you plan to get with your Real Estate Broker. What is included varies from builder to builder so it is important to ask and discuss this.

Often, builders charge a change order fee if you decide you want to add or remove upgrades once you're under contract. And, at some point, the builder will tell you that it is too late to change things since the upgrades have already been ordered, purchased and/or installed.

Things to consider with new construction for upgrades include:

• AC
• Garage door opener
• Backyard landscaping
• Refrigerator and microwave
• Blinds

New ConstructionUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Pre-Offer Due Diligence

Often, builders charge a change order fee if you decide you want to add or remove upgrades once you're under contract. And, at some point, the builder will tell you that it is too late to change things since the upgrades have already been ordered, purchased and/or installed.

Before making your offer it helps to know what the change order fee is (the amount) and when you can make changes and when you can no longer make changes.

New ConstructionUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Pre-Offer Due Diligence

Most builders are installing passive radon systems in homes when they build them in Northern Colorado.

However, the policy on testing for radon and making the systems active varies.

Some builders will allow you to test for radon and if it comes in above 4.0 picoCuries per Liter, they will pay to have the passive system upgraded to an active system to get it below the threshold.

Other builders, will allow you to test but they do not do anything if it comes in above the threshold. It would be up to you, after Closing to install an active system.

New ConstructionUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Pre-Offer Due Diligence

If you're buying new construction, discuss the builder's warranty with your Real Estate Broker and the builder so that you understand what is covered, how it is covered and for what period of time.

New ConstructionUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Pre-Offer Due Diligence

Complete the "Writing Offer: Strategize" checklist:

https://RealEstateFinancialPlanner.com/strategize/

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing OfferWriting Offer: Strategize

When making an offer a major factor is often the price you offer. Typically the higher your offer the better, but a high offer that must appraise is not really a strong offer.

So, discuss with your Real Estate Broker that if you're in multiple offer situation, you may want to offer your highest and best offer but be willing to back it it up with a complementary appraisal condition in your "Contract to Buy and Sell Real Estate".

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Strategize

Removing your appraisal contingency or limiting your appraisal contingency by saying that you have enough money and are willing to make up the difference should the property not appraise will strengthen your offer.

In normal market conditions where there are not multiple offers and with new construction, removing or limiting your appraisal contingency is probably is not necessary.

However, in multiple offer scenarios and especially when you're making an offer above asking price, discuss with your Real Estate Broker some ways to strengthen your offer by adjusting the appraisal conditions part of the "Contract to Buy and Sell Real Estate".

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Strategize

Removing your inspection contingency completely or limiting your inspection contingency by saying that you will not present a list of cosmetic repairs will strengthen your offer.

In normal market conditions where there are not multiple offers and with new construction, removing or limiting your inspection contingency is probably is not necessary.

However, in multiple offer scenarios discuss with your Real Estate Broker some ways to strengthen your offer by adjusting the inspection conditions part of the "Contract to Buy and Sell Real Estate".

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Strategize

The fewer due diligence documents you ask for the less hassle there is for a Seller and the stronger your offer may be.

In normal market conditions where there are not multiple offers and with new construction, limiting the due diligence documents you request is probably is not necessary.

However, in multiple offer scenarios discuss with your Real Estate Broker some ways to strengthen your offer by reducing which due diligence documents you insist on as part of the "Contract to Buy and Sell Real Estate".

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Strategize

The more Earnest Money you put at risk should you not perform according to the terms of the "Contract to Buy and Sell Real Estate" the stronger your offer is.

However, most sophisticated Real Estate Brokers representing Sellers understands that our "Contract to Buy and Sell Real Estate" is written very pro-Buyer such that it is not likely that a Seller will get to keep Earnest Money if a Buyer acts in good faith and terminates under a legitimate section of the "Contract to Buy and Sell Real Estate".

In normal market conditions where there are not multiple offers and with new construction, raising the Earnest Money you offer is probably is not necessary. However, offering the Earnest Money that is requested in the MLS is expected and offering less is a sign that the offer is weaker in most cases.

If you're trying to make an offer with little or nothing down and don't have or don't want to put up the requested Earnest Money, we may need to explain this and find a sympathetic Seller.

However, in multiple offer scenarios discuss with your Real Estate Broker strengthening your offer by increasing how much Earnest Money is included as part of the "Contract to Buy and Sell Real Estate". This is not in my top 3 ways to strengthen an offer and is not a significant strengthening in most cases.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Strategize

If a Seller needs or wants to stay in the property after Closing, then offering a "Post-Closing Occupancy Agreement" will strengthen your offer.

If this is a benefit to the Seller (which we'd often find out either on the "MLS Sheet" or by calling the Seller's Real Estate Broker prior to writing the offer), discuss with your Real Estate Broker including a "Post-Closing Occupancy Agreement" with your "Contract to Buy and Sell Real Estate".

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Strategize

If you do not require a survey or if you require a survey but agree to pay for the survey in the "Contract to Buy and Sell Real Estate" that will strengthen your offer.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Strategize

It is a negotiated item in the "Contract to Buy and Sell Real Estate", but it is often customary for the Seller to pay for the "Owner's Title Insurance Policy".

If you want to make your offer strong by having the Seller net a larger amount without having to worry about raising the offer price and worrying that the property will not appraise, you may want to discuss with your Real Estate Broker offering to pay for the "Owner's Title Insurance Policy".

You will always pays for the "Lender's Title Insurance Policy" unless we negotiate Seller Concessions (which is relatively common) or we add it as an additional provision (which I've never seen done).

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Strategize

Complete the "Writing Offer: Info Required" checklist:

https://RealEstateFinancialPlanner.com/info-required/

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing OfferWriting Offer: Info Required

Get a Pre-Approval Letter from your Lender for the exact amount of the offer you're about to write.

Having a Lender Letter helps you get your offer accepted.

FinancingUltimate Nomad ChecklistWeek 2Week 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Info Required

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

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

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

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

Complete the "Writing Offer: Draft Offer" checklist:

https://RealEstateFinancialPlanner.com/draft-offer/

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing OfferWriting Offer: Draft Offer

Once your Real Estate Broker has all the information they need to write the offer for you, your Real Estate Broker will write a draft of your offer and send you a copy via PDF.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Draft Offer

Once you receive the draft of the offer from your Real Estate Broker as a PDF save a copy of it to your Dropbox folder for this property.

Use the file naming convention:

"YYYY-MM-DD - 1234 Main St - Contract to Buy and Sell Real Estate.pdf"

You will overwrite it when you get the final, fully executed signed copy.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Draft Offer

Once you receive the draft of the offer from your Real Estate Broker as a PDF review it, highlighting any sections you have a question about and writing your questions in the margins.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Draft Offer

After you've reviewed the offer, highlighted sections you have questions about and wrote down your questions in the margins ask your Real Estate Broker the questions you have and have them explain it to you.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Draft Offer

Some clients will opt to call their Contract and Paperwork Attorney to ask questions they have about the draft of the "Contract to Buy and Sell Real Estate".

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Draft Offer

Some clients will opt to call their CPA to ask questions they have about the draft of the "Contract to Buy and Sell Real Estate".

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Draft Offer

Some clients will opt to call their Property Manager to ask questions they have about the draft of the "Contract to Buy and Sell Real Estate".

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Draft Offer

Some clients will opt to call their Insurance Agent to ask questions they have about the draft of the "Contract to Buy and Sell Real Estate".

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Draft Offer

Once you have all your questions answered and you feel comfortable with the draft offer, approve the draft with your Real Estate Broker.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Draft Offer

Complete the "Writing Offer: Review Offer" checklist:

https://RealEstateFinancialPlanner.com/review-offer/

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing OfferWriting Offer: Review Offer

Once you've approved the draft offer with your Real Estate Broker, your Real Estate Broker will typically send over the entire offer including all the related disclosures to you via DocuSign.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Review Offer

Review the entire offer (that was already approved from your draft) especially if you asked your Real Estate Broker to make changes to your draft.

Also, take time to review all the additional disclosure documents included with the DocuSign envelope.

If there are any problems, DO NOT SIGN... tell your Real Estate Broker so they can make corrections.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Review Offer

Complete the "Writing Offer: Sign Offer" checklist:

https://RealEstateFinancialPlanner.com/sign-offer/

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing OfferWriting Offer: Sign Offer

If you're buying a house that the Tenant-Buyer selects from the MLS and offering it to them as a Lease-Option, you should collect the Option Fee from the Tenant-Buyer before signing an offer.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Sign Offer

As you read through and approve each part of the offer, you can sign and initial where DocuSign prompts you to sign and initial.

If more than one person needs to sign, be sure to have each person sign and initial.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Sign Offer

Once everyone has signed and initialed each part of the offer, DocuSign will automatically send each person copies of the fully signed documents as PDFs.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Sign Offer

Once you receive your copies of the documents, save each document to your property folder in Dropbox.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Sign Offer

Complete the "Writing Offer: Present Offer" checklist:

https://RealEstateFinancialPlanner.com/present-offer/

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing OfferWriting Offer: Present Offer

Once your Real Estate Broker sees that your offer has been signed by all the Buyers, they will prepare to send the offer to the Seller's Real Estate Broker.

Your Real Estate Broker will prepare an email (or two emails to is how we usually do it in our office) and then your Real Estate Broker will call the Seller's Real Estate Broker to talk about your strengths as a buyer and the strengths and benefits of selecting your offer.

A great Real Estate Broker will talk about the benefits to the Seller for selecting your offer and the intent that you're trying to do a win-win transaction.

Your Real Estate Broker will usually BCC you on the email they send to the Seller's Real Estate Broker so you know it has been sent.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Present Offer

Most Seller's Real Estate Brokers will acknowledge the receipt of the offer with a reply email.

Your Real Estate Broker will usually BCC you in to thank them for acknowledging receipt so you know that your offer has been received.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Present Offer

Complete the "Writing Offer: Negotiate Offer" checklist:

https://RealEstateFinancialPlanner.com/negotiate-offer/

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing OfferWriting Offer: Negotiate Offer

If your offer was countered by the Seller, then discuss with your Real Estate Broker what changes from your original offer were made by the Seller.

Discuss whether you will accept the "Counter-Proposal", reject the "Counter-Proposal" or counter back with an alternative offer yourself.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Negotiate Offer

If your offer was countered by the Seller, then save a copy of the "Counter-Proposal" to your property folder in Dropbox.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Negotiate Offer

If your offer was countered by the Seller or rejected but another offer was not accepted, then work with your Real Estate Broker to negotiate new terms.

These may be in the form of a new "Contract to Buy and Sell Real Estate" or a "Counter-Proposal" of your own.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Negotiate Offer

If your offer was rejected by the Seller and another offer was not accepted, then work with your Real Estate Broker to consider submitting a new, slightly different offer that might work for you and the Seller.

Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing Offer: Negotiate Offer

Complete the "Contract To Close" checklist:

https://RealEstateFinancialPlanner.com/contract-to-close/

Buying Process OverviewContract To CloseDuring ChecklistsUltimate Nomad ChecklistWeek 8

Watch the recording of the live presentation of "Contract to Close" available on:

https://RealEstateFinancialPlanner.com/contract-to-close/

ClassesContract To CloseUltimate Nomad ChecklistWeek 60Week 8

Complete "Contract To Close: General" checklist:

https://RealEstateFinancialPlanner.com/general/

Contract To CloseContract To Close: GeneralUltimate Nomad ChecklistWeek 13

Complete "Acceptance Deadline Date" checklist. This goes along with the "Acceptance Deadline Time".

We typically use 1 or 2 days from the time the offer is submitted as this deadline, but will often be flexible based on the Seller's needs. We sometimes will be a little more aggressive with this date if it is advantageous for us to do so.

https://RealEstateFinancialPlanner.com/acceptance-deadline-date/

Contract Deadline: Acceptance Deadline DateContract To Close: GeneralUltimate Nomad ChecklistWeek 13

While we are waiting for the Acceptance Deadline Date, your Real Estate Broker will be staying in touch with the Seller's Real Estate Broker and waiting for a reply to your offer.

Contract Deadline: Acceptance Deadline DateUltimate Nomad ChecklistWeek 13

While we are waiting for the Seller to accept your offer, you should prepare yourself for providing Earnest Money which will be due immediately after acceptance.

Also, you should be preparing for getting your loan and arranging for the Down Payment you'll need for Closing.

Contract Deadline: Acceptance Deadline DateUltimate Nomad ChecklistWeek 13

Complete "Acceptance Deadline Time" checklist. This goes along with the "Acceptance Deadline Date".

We typically use 6 PM MST for this deadline although it does vary quite a bit depending on the situation.

https://RealEstateFinancialPlanner.com/acceptance-deadline-time/

Contract Deadline: Acceptance Deadline TimeContract To Close: GeneralUltimate Nomad ChecklistWeek 13

This is the time portion of the "Acceptance Deadline Date". See that checklist for more information.

Contract Deadline: Acceptance Deadline TimeUltimate Nomad ChecklistWeek 13

Complete "Alternative Earnest Money Deadline" checklist.

We typically use "MEC + 2 Days" for the "Alternative Earnest Money Deadline" so that you can have two days after the contract is accepted to get your Earnest Money to the Earnest Money Holder.

IMPORTANT NOTE: If you're traveling or unable to perform on 2 days after acceptance the time to tell your Real Estate Broker is before you write your offer (not after). It is not a good start to the relationship with the Seller to have to change a deadline right after going under contract.

https://RealEstateFinancialPlanner.com/alternative-earnest-money-deadline/

Contract Deadline: Alternative Earnest Money DeadlineContract To Close: GeneralUltimate Nomad ChecklistWeek 13

Once your contract is accepted your Real Estate Broker should be preparing an "Earnest Money Receipt" and coordinating with you to get the Earnest Money to the Earnest Money Holder before the Alternative Earnest Money Deadline.

Contract Deadline: Alternative Earnest Money DeadlineUltimate Nomad ChecklistWeek 13

Give your Real Estate Broker the Earnest Money with enough time for them to deliver it to the official Earnest Money Holder (as specified in the "Contract to Buy and Sell Real Estate").

This must be done prior to the Alternative Earnest Money Deadline specified in the "Contract to Buy and Sell Real Estate". The amount of Earnest Money is also specified in the contract.

Contract Deadline: Alternative Earnest Money DeadlineUltimate Nomad ChecklistWeek 13

Once your Real Estate Broker (or in some rare cases you) delivers your Earnest Money to the official Earnest Money Holder, an "Earnest Money Receipt" is usually issued. You should get a copy.

Contract Deadline: Alternative Earnest Money DeadlineUltimate Nomad ChecklistWeek 13

Once you have a copy of your "Earnest Money Receipt", save a copy of it to your property's folder in Dropbox with the filename formatted as:

"YYYY-MM-DD - 1234 Main St - Earnest Money Receipt.pdf"

Contract Deadline: Alternative Earnest Money DeadlineUltimate Nomad ChecklistWeek 13

Once you receive your copy of the "Earnest Money Receipt" after your Earnest Money is delivered to the Earnest Money Holder, provide a copy of the "Earnest Money Receipt" to your Lender.

Contract Deadline: Alternative Earnest Money DeadlineUltimate Nomad ChecklistWeek 13

Complete the "Contract To Close: Title" checklist:

https://RealEstateFinancialPlanner.com/title/

Contract To CloseContract To Close: TitleUltimate Nomad ChecklistWeek 13

Complete the "Record Title Deadline" checklist:

https://RealEstateFinancialPlanner.com/record-title-deadline/

We typically use "MEC + 7 Days" for the Record Title Deadline to give the Title Insurance Company time to deliver the title work to you to review.

Contract Deadline: Record Title DeadlineContract To Close: TitleUltimate Nomad ChecklistWeek 13

As soon as you go under contract, your Real Estate Broker should send a copy of your "Contract to Buy and Sell Real Estate" to the Title Insurance Company so they can order the Title Insurance Commitment and send you a copy of the Title Work for you to review.

Your Real Estate Broker should follow up with the Title Insurance Company to make sure you get your Title Work back prior to the Record Title Deadline.

Contract Deadline: Record Title DeadlineUltimate Nomad ChecklistWeek 9

You and your Real Estate Broker should receive a copy of the Title Work for your purchase prior to the Record Title Deadline.

Contract Deadline: Record Title DeadlineUltimate Nomad ChecklistWeek 9

Once you receive a copy, save a copy of the Title Work to your property Dropbox folder.

Contract Deadline: Record Title DeadlineUltimate Nomad ChecklistWeek 9

Complete the "Record Title Objection Deadline" checklist:

https://RealEstateFinancialPlanner.com/record-title-objection-deadline/

We typically use about "MEC + 14 Days" to give you time to review your title work, get the advice of your Title Attorney if needed and have time to object.

Contract Deadline: Record Title Objection DeadlineContract To Close: TitleUltimate Nomad ChecklistWeek 13

In some cases we will write the "Contract to Buy and Sell Real Estate" saying that Buyer will determine how they will take title to the property prior to Closing.

If we wrote that in your "Contract to Buy and Sell Real Estate" this would be the time to notify your Real Estate Broker and Title Insurance Company how you plan to take title to the property.

Your Real Estate Broker may need to create an "Amend/Extend" to modify the "Contract to Buy and Sell Real Estate" to make this change.

If you selected how you plan to take title before writing the offer and it is correctly reflected in the "Contract to Buy and Sell Real Estate", you do not need to do anything with this task.

Contract Deadline: Record Title Objection DeadlineUltimate Nomad ChecklistWeek 9

Once you and your Real Estate Broker receive a copy of the Title Work, your Real Estate Broker should check the Title Commitment against a standard checklist to check for obvious errors and mistakes.

IMPORTANT NOTE: Your Real Estate Broker is not a Title Attorney nor are they trained to interpret Title Work. You should not rely on them to review your Title Work for you. If you have questions about the Title Work, the first questions should be directed to the people providing it to you: the Title Insurance Company. They will be
selling/providing you with a Title Insurance Policy and if you have questions about what that covers and does not cover, asking them first is a great idea.

If you still have questions after talking to your Title Insurance Company, the next person to speak with is your own Title Attorney who has received training and specializes in the unique legal aspects of Title Work.

Contract Deadline: Record Title Objection DeadlineUltimate Nomad ChecklistWeek 9

IMPORTANT NOTE: Your Real Estate Broker is not a Title Attorney nor are they trained to interpret Title Work. You should not rely on them to review your Title Work for you. If you have questions about the Title Work, the first questions should be directed to the people providing it to you: the Title Insurance Company. They will be selling/providing you with a Title Insurance Policy and if you have questions about what that covers and does not cover, asking them first is a great idea.

If you still have questions after talking to your Title Insurance Company, the next person to speak with is your own Title Attorney who has received training and specializes in the unique legal aspects of Title Work.

Contract Deadline: Record Title Objection DeadlineUltimate Nomad ChecklistWeek 9

You should receive a copy of the Title Work from the Title Company shortly after going under contract with the help of the Real Estate Brokers involved in the transaction.

Review Title Work and highlight any sections you have questions about. Write down your questions.

IMPORTANT NOTE: Real Estate Brokers do not receive training on how to interpret Title Work so while they may be able to answer very basic questions, they are not competent to answer questions about the Title Work itself. For that, you will rely on getting info from the Title Company that is providing the Title Insurance and/or by hiring your own Title Attorney who is educated on Title Work.

You may want to meet with your Title Attorney and/or Title Company to ask questions about it.

If there is something in the Title Work that is unacceptable to you, let your Real Estate Broker know as soon as possible and definitely before the Record Title Objection Deadline.

Mark this task done once you've reviewed your Title Work.

Contract Deadline: Record Title Objection DeadlinePaperworkUltimate Nomad ChecklistWeek 61Week 9

If you have questions about your Title Work, you should first contact the Title Insurance Company that will be providing you (selling you) a Title Insurance Policy.

If after talking to your Title Insurance Company, you still have questions, please talk to your Title Attorney.

Mark this task done once you've reviewed your Title Work.

Contract Deadline: Record Title Objection DeadlinePaperworkUltimate Nomad ChecklistWeek 61Week 9

If you have questions about your Title Work, you may want to meet with a Title Attorney to have your questions answered in addition to asking the Title Company.

You can ask your Real Estate Broker for a recommendation.

Mark this task complete once you've decided on a Title Attorney to use.

Contract Deadline: Record Title Objection DeadlineDream TeamDream Team - Pre-ClosingOptionalUltimate Nomad ChecklistWeek 9

If you have questions about your Title Work, you should first contact the Title Insurance Company that will be providing you (selling you) a Title Insurance Policy.

If after talking to your Title Insurance Company, you still have questions, please talk to your Title Attorney.

Mark this task done once you've reviewed your Title Work.

Contract Deadline: Record Title Objection DeadlinePaperworkUltimate Nomad ChecklistWeek 61Week 9

If there is something in the Title Work that is unacceptable to you, let your Real Estate Broker know as soon as possible and definitely before the Record Title Objection Deadline so we can file a formal objection to title and protect your Earnest Money.

Mark this task done once you've objected or if you don't plan to object to Title Work.

Contract Deadline: Record Title Objection DeadlinePaperworkUltimate Nomad ChecklistWeek 9

If there is something in the Title Work that is unacceptable to you, let your Real Estate Broker know as soon as possible and definitely before the Record Title Objection Deadline so we can file a formal objection to title and protect your Earnest Money.

Your choices are either to object and see what they offer as a possible resolution or if you are 100% certain that nothing would resolve it, you can terminate.

If you'd like to object, your Real Estate Broker would prepare a "Title-Related Objection Notice".

If you'd like to terminate, your Real Estate Broker would prepare a "Notice to Terminate" and "Earnest Money Release".

Mark this task done once you've objected or if you don't plan to object to Title Work.

Contract Deadline: Record Title Objection DeadlinePaperworkUltimate Nomad ChecklistWeek 9

If there is something in the Title Work that is unacceptable to you and you are objecting your Real Estate Broker will prepare a "Title-Related Objection Notice" and send it over for you to sign via DocuSign.

Sign it via DocuSign prior to your Record Title Objection Deadline to protect your Earnest Money.

Mark this task done when complete.

Contract Deadline: Record Title Objection DeadlinePaperworkUltimate Nomad ChecklistWeek 9

If there is something in the Title Work that is unacceptable to you, let your Real Estate Broker know as soon as possible and definitely before the Record Title Objection Deadline so we can file a formal objection to title and protect your Earnest Money.

Your choices are either to object and see what they offer as a possible resolution or if you are 100% certain that nothing would resolve it, you can terminate.

If you'd like to object, your Real Estate Broker would prepare a "Title-Related Objection Notice".

If you'd like to terminate, your Real Estate Broker would prepare a "Notice to Terminate" and "Earnest Money Release".

Mark this task done once you've objected or if you don't plan to object to Title Work.

Contract Deadline: Record Title Objection DeadlinePaperworkUltimate Nomad ChecklistWeek 9

If there is something in the Title Work that is unacceptable to you and you are terminating your Real Estate Broker will prepare a "Notice to Terminate" and "Earnest Money Release" and send it over for you to sign via DocuSign.

Sign it via DocuSign prior to your Record Title Objection Deadline to protect your Earnest Money.

Mark this task done when complete.

Contract Deadline: Record Title Objection DeadlinePaperworkUltimate Nomad ChecklistWeek 9

Complete the "Off-Record Title Deadline" checklist:

https://RealEstateFinancialPlanner.com/off-record-title-deadline/

We often use "MEC + 9 Days" for this deadline in the "Contract to Buy and Sell Real Estate".

Contract Deadline: Off-Record Title DeadlineContract To Close: TitleUltimate Nomad ChecklistWeek 13

If the Seller has any off-record title information like leases (although many people would consider this part of due diligence), lease-options agreements, option agreements, unrecorded easements, etc then they should give them to you by this deadline.

It is unusual to have documents relating to this deadline.

Contract Deadline: Off-Record Title DeadlineUltimate Nomad ChecklistWeek 13

If the Seller has sent you any off-record title materials, save them to your property Dropbox folder.

Contract Deadline: Off-Record Title DeadlineUltimate Nomad ChecklistWeek 13

Complete the "Off-Record Title Objection Deadline" checklist:

https://RealEstateFinancialPlanner.com/off-record-title-objection-deadline/

We often use "MEC + 16 Days" for this deadline in the "Contract to Buy and Sell Real Estate".

Contract Deadline: Off-Record Title Objection DeadlineContract To Close: TitleUltimate Nomad ChecklistWeek 13

If the Seller provides us with any off-record title information, your Real Estate Broker will forward that information on to you for review.

It is somewhat unusual to have off-record title information provided by the Seller.

Mark this task done when complete.

Contract Deadline: Off-Record Title Objection DeadlineUltimate Nomad ChecklistWeek 9

While off-record title matters are relatively uncommon, if you have questions about them you should get legal advice.

IMPORTANT NOTE: Your Real Estate Broker is not an Attorney nor are they trained to deal with options, lease-options, unrecorded easements and other off-record title matters. You should not rely on them to review this information for you. If you have questions about any off-record title matters you should consult an Attorney.

Contract Deadline: Off-Record Title Objection DeadlineUltimate Nomad ChecklistWeek 9

You should receive a copy of any off-record title materials shortly after going under contract with the help of the Real Estate Brokers involved in the transaction from the Seller. That's if any exist.

Off-record title materials like lease-option agreements, option agreements and unrecorded easements are relatively uncommon.

Review off-record title documents and highlight any sections you have questions about. Write down your questions.

IMPORTANT NOTE: Real Estate Brokers do not receive training on off-record title documents so while they may be able to answer very basic questions, they are not competent to answer questions about the off-record title matters. For that, you will rely on hiring your own Attorney who is educated on these matters.

If there is something in the off-record title documents that is unacceptable to you, let your Real Estate Broker know as soon as possible and definitely before the Off-Record Title Objection Deadline.

Mark this task done once you've reviewed your off-record title documents.

Contract Deadline: Off-Record Title Objection DeadlinePaperworkUltimate Nomad ChecklistWeek 61Week 9

If you have questions about off-record title matters, you should talk to your Attorney to get your questions answered.

Mark this task done when complete.

Contract Deadline: Off-Record Title Objection DeadlinePaperworkUltimate Nomad ChecklistWeek 61Week 9

If there is something in the off-record title information the Seller provided that is unacceptable to you, let your Real Estate Broker know as soon as possible and definitely before the Off-Record Title Objection Deadline so we can file a formal objection to title and protect your Earnest Money.

Mark this task done once you've objected or if you don't plan to object to any off-record title matters.

Contract Deadline: Off-Record Title Objection DeadlinePaperworkUltimate Nomad ChecklistWeek 9

If there is something related to off-record title matters that is unacceptable to you, let your Real Estate Broker know as soon as possible and definitely before the Off-Record Title Objection Deadline so we can file a formal objection to title and protect your Earnest Money.

Your choices are either to object and see what they offer as a possible resolution or if you are 100% certain that nothing would resolve it, you can terminate.

If you'd like to object, your Real Estate Broker would prepare a "Title-Related Objection Notice".

If you'd like to terminate, your Real Estate Broker would prepare a "Notice to Terminate" and "Earnest Money Release".

Mark this task done once you've objected or if you don't plan to object to off-record title matters.

Contract Deadline: Off-Record Title Objection DeadlinePaperworkUltimate Nomad ChecklistWeek 9

If there is something related to off-record title matters that is unacceptable to you and you are objecting your Real Estate Broker will prepare a "Title-Related Objection Notice" and send it over for you to sign via DocuSign.

Sign it via DocuSign prior to your Off-Record Title Objection Deadline to protect your Earnest Money.

Mark this task done when complete.

Contract Deadline: Off-Record Title Objection DeadlinePaperworkUltimate Nomad ChecklistWeek 9

If there is something relating to off-record title matters that is unacceptable to you, let your Real Estate Broker know as soon as possible and definitely before the Off-Record Title Objection Deadline so we can file a formal objection to title and protect your Earnest Money.

Your choices are either to object and see what they offer as a possible resolution or if you are 100% certain that nothing would resolve it, you can terminate.

If you'd like to object, your Real Estate Broker would prepare a "Title-Related Objection Notice".

If you'd like to terminate, your Real Estate Broker would prepare a "Notice to Terminate" and "Earnest Money Release".

Mark this task done once you've objected or if you don't plan to object to any off-record title matters.

Contract Deadline: Off-Record Title Objection DeadlinePaperworkUltimate Nomad ChecklistWeek 9

If there is something related to off-record title matters that is unacceptable to you and you are terminating your Real Estate Broker will prepare a "Notice to Terminate" and "Earnest Money Release" and send it over for you to sign via DocuSign.

Sign it via DocuSign prior to your Off-Record Title Objection Deadline to protect your Earnest Money.

Mark this task done when complete.

Contract Deadline: Off-Record Title Objection DeadlinePaperworkUltimate Nomad ChecklistWeek 9

Complete the "Title Resolution Deadline" checklist:

https://RealEstateFinancialPlanner.com/title-resolution-deadline/

We often use "MEC + 20 Days" for this deadline in the "Contract to Buy and Sell Real Estate".

Contract Deadline: Title Resolution DeadlineContract To Close: TitleUltimate Nomad ChecklistWeek 13

If you've objected to a title related issue (either record title or off-record title), then your Real Estate Broker (with your assistance) should be negotiating on your behalf to come to a resolution that is acceptable to you and the Seller.

Contract Deadline: Title Resolution DeadlineUltimate Nomad ChecklistWeek 13

If you've come to a resolution over the title objection you had, your Real Estate Broker should prepare an "Amend/Extend" to document the resolution and resolve your objection.

Contract Deadline: Title Resolution DeadlineUltimate Nomad ChecklistWeek 13

If you've come to a resolution over the title objection and your Real Estate Broker has prepared an "Amend/Extend" to document the resolution and resolve your objection, sign the "Amend/Extend" to continue with the purchase.

Some Real Estate Brokers may also have you simultaneously withdraw your "Title-Related Objection Notice" by signing the bottom via DocuSign.

Contract Deadline: Title Resolution DeadlineUltimate Nomad ChecklistWeek 13

Once you receive back a fully executed "Amend/Extend" save a copy to your property folder in Dropbox.

You may also get a withdrawn version of your "Title-Related Objection Notice" to save to your Dropbox as well.

Contract Deadline: Title Resolution DeadlineUltimate Nomad ChecklistWeek 13

If you've decided to continue with the purchase and withdraw your record title or off-record title objection, your Real Estate Broker can send over the "Title-Related Objection Notice" you signed and have you sign the bottom that withdraws your objection before the Title Resolution Deadline to allow you to continue with the purchase.

IMPORTANT NOTE: If you have not resolved the objection or withdrawn your objection prior to the Title Resolution Deadline, the "Contract to Buy and Sell Real Estate" will terminate. So, if you want to continue with the sale you need to do either one of these.

Contract Deadline: Title Resolution DeadlineUltimate Nomad ChecklistWeek 13

If you've decided to continue with the purchase and withdraw your record title or off-record title objection, sign the withdrawal section at the bottom of the "Title-Related Objection Notice" when your Real Estate Broker sends it over via DocuSign.

IMPORTANT NOTE: If you have not resolved the objection or withdrawn your objection prior to the Title Resolution Deadline, the "Contract to Buy and Sell Real Estate" will terminate. So, if you want to continue with the sale you need to do either one of these.

Contract Deadline: Title Resolution DeadlineUltimate Nomad ChecklistWeek 13

If you've withdrawn your objection by signing the bottom portion of your "Title-Related Objection Notice", save a copy of it to your property folder in Dropbox.

Contract Deadline: Title Resolution DeadlineUltimate Nomad ChecklistWeek 13

If you have not come to an acceptable resolution or withdrawn your "Title-Related Objection Notice" by the Title Resolution Deadline then your "Contract to Buy and Sell Real Estate" has terminated. However, most Real Estate Brokers will want to also prepare a formal "Notice To Terminate" as well out of an abundance of clarity.

Your Real Estate Broker should prepare an "Earnest Money Release" (and probably a "Notice To Terminate") to get the Seller to agree to release your Earnest Money.

Contract Deadline: Title Resolution DeadlineUltimate Nomad ChecklistWeek 13

If you have not come to an acceptable resolution or withdrawn your "Title-Related Objection Notice" by the Title Resolution Deadline then your "Contract to Buy and Sell Real Estate" has terminated.

Your Real Estate Broker should prepare and send over an "Earnest Money Release" (and probably "Notice To Terminate") to get the Seller to agree to release your Earnest Money to you via DocuSign.

Sign the "Earnest Money Release" (and probably "Notice To Terminate") via DocuSign.

Contract Deadline: Title Resolution DeadlineUltimate Nomad ChecklistWeek 13

Once you receive the signed copy of the "Earnest Money Release" (and probably "Notice To Terminate") back via DocuSign save a copy to your property folder in Dropbox.

Once the Seller signs it, you can replace this copy with the fully executed version and provide a copy to the Earnest Money Holder to get your Earnest Money back.

Contract Deadline: Title Resolution DeadlineUltimate Nomad ChecklistWeek 13

Complete the "Right of First Refusal Deadline" checklist:

https://RealEstateFinancialPlanner.com/right-of-first-refusal-deadline/

Contract Deadline: Right of First Refusal DeadlineContract To Close: TitleUltimate Nomad ChecklistWeek 13

If the Seller needs a Right of First Refusal Deadline to be included with your offer, discuss the details of this with your Real Estate Broker.

Contract Deadline: Right of First Refusal DeadlineUltimate Nomad ChecklistWeek 13

Complete the "Contract To Close: Owner’s Association" checklist:

https://RealEstateFinancialPlanner.com/owners-association/

Contract To CloseContract To Close: Owner's AssociationUltimate Nomad ChecklistWeek 13

Complete the "Association Documents Deadline" checklist:

https://RealEstateFinancialPlanner.com/association-documents-deadline/

We often use "MEC + 7 Days" for this deadline in the "Contract to Buy and Sell Real Estate" to give the Seller time to get you copies of the HOA documents.

Contract Deadline: Association Documents DeadlineContract To Close: Owner's AssociationUltimate Nomad ChecklistWeek 13

The Seller (and their Real Estate Broker) should provide you a copy of the HOA documents by the Association Documents Deadline.

As soon as your Real Estate Broker receives them from the Seller's Real Estate Broker, they will typically forward them to you to review.

Contract Deadline: Association Documents DeadlineUltimate Nomad ChecklistWeek 13

Once you receive the HOA documents, save a copy of them to your property folder in Dropbox.

Contract Deadline: Association Documents DeadlineUltimate Nomad ChecklistWeek 13

Complete the "Association Documents Objection Deadline" checklist:

https://RealEstateFinancialPlanner.com/association-documents-objection-deadline/

We often use "MEC + 14 Days" for this deadline in the "Contract to Buy and Sell Real Estate".

Contract Deadline: Association Documents Objection DeadlineContract To Close: Owner's AssociationUltimate Nomad ChecklistWeek 13

Review the HOA documents sent over by the Seller.

Highlight any sections you have questions about and write your questions in the margin. You can talk to the HOA directly with questions and/or your Attorney for advice.

If you're OK with the HOA documents, there is nothing to do. If you're not OK with the HOA documents, you can terminate the contract prior to the Association Documents Objection Deadline.

Contract Deadline: Association Documents Objection DeadlineUltimate Nomad ChecklistWeek 13

If you have questions about any of your HOA documents and how it might impact your ability to use the property in the way you desire, you should talk to your Attorney to get legal advice and clarification.

IMPORTANT NOTE: Your Real Estate Broker is not trained on how to read and interpret HOA documents and is not competent to be able to give you advice on them.

Contract Deadline: Association Documents Objection DeadlineUltimate Nomad ChecklistWeek 13

If the something in the association documents is unsatisfactory to you, you have up until the Association Documents Objection Deadline to terminate the "Contract to Buy and Sell Real Estate" and get your Earnest Money back.

If something is unsatisfactory, tell your Real Estate Broker right away to give them time to prepare your "Notice to Terminate" and "Earnest Money Release" and send them over for you to sign via DocuSign.

Contract Deadline: Association Documents Objection DeadlineUltimate Nomad ChecklistWeek 13

If the something in the association documents is unsatisfactory to you, you have up until the Association Documents Objection Deadline to terminate the "Contract to Buy and Sell Real Estate" and get your Earnest Money back.

If something is unsatisfactory, your Real Estate Broker will prepare your "Notice to Terminate" and "Earnest Money Release" and send them over for you to sign via DocuSign.

Contract Deadline: Association Documents Objection DeadlineUltimate Nomad ChecklistWeek 13

Once your Real Estate Broker has sent you the "Notice To Terminate" and "Earnest Money Release" via DocuSign, sign it before the Association Documents Objection Deadline to protect your Earnest Money.

Contract Deadline: Association Documents Objection DeadlineUltimate Nomad ChecklistWeek 13

Once you've signed the "Notice To Terminate" and "Earnest Money Release" via DocuSign and received a copy back, save a copy to your property folder in Dropbox.

Once you get them back signed from the Seller you'll replace your copies in Dropbox with the fully executed versions.

Contract Deadline: Association Documents Objection DeadlineUltimate Nomad ChecklistWeek 13

Complete the "Contract To Close: Seller's Property Disclosure" checklist:

https://RealEstateFinancialPlanner.com/sellers-property-disclosure/

Since the "Seller's Property Disclosure" is often provided even before we write the offer, it is not uncommon that we use "Completed" for the date of this deadline. However, if we have not received the "Seller's Property Disclosure" prior to writing the offer, we often use "MEC + 3 Days" so that you can ideally get a copy of the "Seller's Property Disclosure" prior to your inspection.

This is especially important since there is not an objection for the "Seller's Property Disclosure"; you'd need to object based on your inspection if you found something at the property that you learned about via the "Seller's Property Disclosure".

Contract Deadline: Seller's Property Disclosure DeadlineContract To CloseContract To Close: Seller's Property DisclosureSellers Property DisclosureUltimate Nomad ChecklistWeek 13

Watch the recording of the live presentation of "Seller's Property Disclosure Case Studies" available on:

https://RealEstateFinancialPlanner.com/spd-case-studies/

ASAPClassesContract To Close: Seller's Property DisclosureGet Your First Deal DoneMaking OffersPaperworkSellers Property DisclosureUltimate Nomad ChecklistWeek 13

Receive a copy of the "Seller's Property Disclosure" from the Seller.

Typically we will send it over either with the offer or as soon as we receive it via DocuSign so you can sign it.

Contract Deadline: Seller's Property Disclosure DeadlinePaperworkSellers Property DisclosureUltimate Nomad ChecklistWeek 13

Initial each page and sign the "Seller's Property Disclosure" acknowledging that you received it when your Real Estate Broker sends it over via DocuSign.

Contract Deadline: Seller's Property Disclosure DeadlinePaperworkSellers Property DisclosureUltimate Nomad ChecklistWeek 13

Save a copy of the "Seller's Property Disclosure" to your property folder in Dropbox.

Contract Deadline: Seller's Property Disclosure DeadlinePaperworkSellers Property DisclosureUltimate Nomad ChecklistWeek 13

Read through the "Seller's Property Disclosure" for the property you're under contract on.

You can't object specifically to the "Seller's Property Disclosure". If you want to object, it would probably be an objection under the property inspection provided you kept that objection in your "Contract to Buy and Sell Real Estate" when you negotiated your offer.

Mark this task complete once you've read the "Seller's Property Disclosure".

Contract Deadline: Seller's Property Disclosure DeadlinePaperworkSellers Property DisclosureUltimate Nomad ChecklistWeek 13

You'll want to bring a printed copy of the "Seller's Property Disclosure" to your inspection so that you and your inspector can look closer at any items that you have questions about.

Contract Deadline: Seller's Property Disclosure DeadlinePaperworkSellers Property DisclosureUltimate Nomad ChecklistWeek 13

Complete the "Contract To Close: Loan and Credit" checklist:

https://RealEstateFinancialPlanner.com/loan-and-credit/

Contract To CloseContract To Close: Loan and CreditFinancingUltimate Nomad ChecklistWeek 13

Complete the "Loan Application Deadline" checklist:

https://RealEstateFinancialPlanner.com/loan-application-deadline/

You'll usually apply for the loan prior to going out and looking at homes with your Real Estate Broker. However, your Lender will require an address to have a completed loan application. For the "Contract to Buy and Sell Real Estate" we typically use "MEC + 2 Business Days" to get your Lender a full, complete with address of the property, application.

Contract Deadline: Loan Application DeadlineContract To Close: Loan and CreditFinancingUltimate Nomad ChecklistWeek 13

If you haven't already selected a Lender (which in most cases you will have at this point), then ask your Real Estate Broker to suggest 3 possible Lenders to contact for financing your home purchase based on the types of loans you're considering.

You're welcome to use whichever Lender you choose (from the Real Estate Broker's recommendations or your own), however... you should realize that making sure your Lender performs if your responsibility.

In other words, if your Lender does not show up on the day of closing with the money for whatever reason, you are still in default on the "Contract to Buy and Sell Real Estate" (not your Lender) and you are at risk of losing your Earnest Money (and specific performance in the unlikely event that box is checked on the "Contract to Buy and Sell Real Estate"). Another way of saying this is: your Lender is not a party to the "Contract to Buy and Sell Real Estate" and so they have no consequences in the "Contract to Buy and Sell Real Estate" if they don't perform.

So, consider "testing" a new Lender carefully.

ASAPContract Deadline: Loan Application DeadlineDream TeamDream Team - Pre-ClosingFinancingUltimate Nomad ChecklistWeek 2

If you have not already done so, talk to 3 Lenders to determine which one you'd like to use.

Ask your Real Estate Broker for recommendations.

Mark complete once you've talked to 3 Lenders of if you've already decided which Lender you plan to use.

ASAPContract Deadline: Loan Application DeadlineDream TeamDream Team - Pre-ClosingFinancingUltimate Nomad ChecklistWeek 2

Decide which Lender you will use to finance your purchase.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on a Lender to use.

Analyzing DealsASAPContract Deadline: Loan Application DeadlineDream TeamDream Team - Pre-ClosingFinancingUltimate Nomad ChecklistWeek 2

Make an application to get qualified for a loan with the Lender you've decided you're going to use.

Some people will opt to get quotes from multiple lenders. If you're going to do this, compare everyone on the same day so the rate is the same.

Also, have the Lender you think is most likely to be the one you'll go with pull your credit and then tell the other Lenders you're comparing what your credit score is. If you decide to go with them, you'll let them pull your credit then.

If you need a recommendation for a Lender ask your Real Estate Broker.

Mark this task complete once you've applied for a loan and been approved with the Lender you plan to use.

ASAPContract Deadline: Loan Application DeadlineFinancingUltimate Nomad ChecklistWeek 2Week 54

As soon as your "Contract to Buy and Sell Real Estate" is accepted, make sure your Lender has a copy so they can complete your application and start working on getting your financing approved and through under-writing.

ASAPContract Deadline: Loan Application DeadlineFinancingUltimate Nomad ChecklistWeek 2Week 54

Once you have an accepted offer, you'll need to complete the loan application with your Lender.

Contract Deadline: Loan Application DeadlineFinancingUltimate Nomad ChecklistWeek 9

Pay your Lender for Appraisal so they can order it.

Contract Deadline: Loan Application DeadlineFinancingUltimate Nomad ChecklistWeek 9

Complete the "Loan Objection Deadline" checklist:

https://RealEstateFinancialPlanner.com/loan-objection-deadline/

Contract Deadline: Loan Objection DeadlineContract To Close: Loan and CreditFinancingUltimate Nomad ChecklistWeek 10Week 11Week 12Week 13

Your Lender will undoubtedly want a plethora of financial documents.

Mark this task complete once you've provided them all to your Lender.

Contract Deadline: Loan Objection DeadlineFinancingUltimate Nomad ChecklistWeek 9

In all but a small number of cases, we recommend fixed-rate 30 year mortgages for Nomads.

However, there are two situations we'd consider ARMs.

First, if you're buying the property and are 100% positive you're going to be putting a Tenant-Buyer in the property and you will be out of the property before the mortgage will adjust, then you can consider using an ARM.

Second, if you're buying the property with partners and the only loan you can get with the partnership is an ARM then you can also consider an ARM. However, in this case you probably should be putting a Tenant-Buyer in the property so it probably still falls under the first reason above.

Interest rates for ARMs (Adjustable Rate Mortgages) tend to be a little lower than the interest rates on fixed-rate 30 year mortgages. But the ARM interest rates can adjust over time causing much higher monthly payments and significant negative cash flow after the interest rate adjusts. This adds additional risk that you could have opted not to take on.

Mark this task as complete if you have decided to get fixed-rate mortgage or an ARM.

Analyzing DealsCash FlowContract Deadline: Loan Objection DeadlineFinancingNet Operating IncomeOptionalTenant-BuyersUltimate Nomad ChecklistWeek 10

Often for Nomads it is better to pay a one-time up front PMI (Private Mortgage Insurance) payment instead of monthly PMI on their loans.

This may mean coming to Closing with a little more cash.

Sometimes it means voluntarily raising your interest rate with your Lender to get a credit to pay for some or all of the up-front PMI.

Discuss these two scenarios with your Lender to see which one makes more sense to you.

Mark this task complete once you've discussed this with your Lender and decided which you'll pick.

Analyzing DealsCash FlowContract Deadline: Loan Objection DeadlineFinancingInterest RateNet Operating IncomeOptionalPrivate Mortgage InsuranceUltimate Nomad ChecklistWeek 10

Talk to your Lender to see if buying down your interest rate makes sense in your specific situation.

Sometimes, especially if you have extra cash and you plan to hold the property for a long time, it makes sense to pay additional points to get a lower interest rate.

Mark this task complete once you've talked to your Lender about these options, analyzed them yourself and decided to buy down your interest rate or not.

Analyzing DealsCash FlowContract Deadline: Loan Objection DeadlineFinancingInterest RateNet Operating IncomeOptionalUltimate Nomad ChecklistWeek 10

Sometimes if you have extra cash for down payment it might make sense to increase down payment.

We often consider this as an alternative to to paying up-front PMI or buying down the interest rate. If we're putting less than 20% down, one way to lower our monthly payment is to put more down to get rid of PMI instead of paying the PMI up-front.

Mark this task as complete when you've talked to your Lender about using a larger down payment and decided whether you will or not.

Analyzing DealsCash FlowContract Deadline: Loan Objection DeadlineDown PaymentFinancingInterest RateNet Operating IncomeOptionalUltimate Nomad ChecklistWeek 10

Complete the "Buyer’s Credit Information Deadline" checklist:

https://RealEstateFinancialPlanner.com/buyers-credit-information-deadline/

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

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

Complete the "Disapproval of Buyer’s Credit Information Deadline" checklist:

https://RealEstateFinancialPlanner.com/disapproval-of-buyers-credit-information-deadline/

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

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

Complete the "Existing Loan Documents Deadline" checklist:

https://RealEstateFinancialPlanner.com/existing-loan-documents-deadline/

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

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

Complete the "Existing Loan Documents Objection Deadline" checklist:

https://RealEstateFinancialPlanner.com/existing-loan-documents-objection-deadline/

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

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

Complete the "Loan Transfer Approval Deadline" checklist:

https://RealEstateFinancialPlanner.com/loan-transfer-approval-deadline/

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

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

Complete the "Seller or Private Financing Deadline" checklist:

https://RealEstateFinancialPlanner.com/seller-or-private-financing-deadline/

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

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

Complete the "Contract To Close: Appraisal" checklist:

https://RealEstateFinancialPlanner.com/appraisal/

Contract To CloseContract To Close: AppraisalUltimate Nomad ChecklistWeek 13

Complete the "Appraisal Deadline" checklist:

https://RealEstateFinancialPlanner.com/appraisal-deadline/

Contract Deadline: Appraisal DeadlineContract To Close: AppraisalUltimate Nomad ChecklistWeek 13

If you have not already done so, pay your Lender for Appraisal so they can order it.

Contract Deadline: Appraisal DeadlineContract Deadline: Loan Application DeadlineFinancingUltimate Nomad ChecklistWeek 9

Since you're almost always paying for the Appraisal you will need to authorize your Lender to order the Appraisal.

IMPORTANT NOTE: If you're concerned about what you might find at the inspection and may be terminating your contract on inspection, you should discuss with your Lender and Real Estate Broker delaying your Appraisal so you do not have to pay for an Appraisal on a property you are not going to buy.

Mark this task complete once you've authorized your Lender to order the appraisal and provided them all the forms and payment information they need to do so.

Contract Deadline: Appraisal DeadlineFinancingUltimate Nomad ChecklistWeek 9

Your Real Estate Broker should be checking in with the Lender to make sure your Lender has ordered the Appraisal.

Contract Deadline: Appraisal DeadlineFinancingUltimate Nomad ChecklistWeek 9

Your Real Estate Broker should check with the Lender and/or the Seller's Real Estate Broker to make sure the Appraisal has visited the property to complete their Appraisal.

This is a proactive step in case it looks like you might not make the Appraisal Deadline and we'd need to negotiate with the Seller to see if we can extend that deadline.

Contract Deadline: Appraisal DeadlineFinancingUltimate Nomad ChecklistWeek 9

Once the Appraisal is complete and has gone through your Lender's underwriting review, they should give you a copy and let you know if the property has appraised for Purchase Price or not.

Contract Deadline: Appraisal DeadlineFinancingUltimate Nomad ChecklistWeek 9

Once the Appraisal is complete and has gone through your Lender's underwriting review, your Lender should communicate with your Real Estate Broker to let us know if the property appraised or not.

While some Buyers send us copies of the Appraisal, Lender typically do not automatically send a copy of your Appraisal to your Real Estate Broker.

Contract Deadline: Appraisal DeadlineFinancingUltimate Nomad ChecklistWeek 9

Complete the "Appraisal Objection Deadline" checklist:

https://RealEstateFinancialPlanner.com/appraisal-objection-deadline/

Contract Deadline: Appraisal Objection DeadlineContract To Close: AppraisalUltimate Nomad ChecklistWeek 13

When you get the Appraisal from the Lender, review it. If you have questions, discuss it with the Lender and/or your Real Estate Broker.

Contract Deadline: Appraisal Objection DeadlineUltimate Nomad ChecklistWeek 13

If the property appraised for at least the Purchase Price or you will make up the difference between what it appraised for and the Purchase Price, you can ignore this deadline and continue with the purchase.

Contract Deadline: Appraisal Objection DeadlineUltimate Nomad ChecklistWeek 13

If the property appraised for less than Purchase Price and you want to object to the Appraisal, ask your Real Estate Broker to prepare an "Appraised Value Objection Notice" to protect your Earnest Money.

Contract Deadline: Appraisal Objection DeadlineUltimate Nomad ChecklistWeek 13

If the property appraised for less than Purchase Price and you want to object to the Appraisal sign the "Appraised Value Objection Notice" via DocuSign before the Appraisal Objection Deadline to protect your Earnest Money.

Contract Deadline: Appraisal Objection DeadlineUltimate Nomad ChecklistWeek 13

Once you sign the "Appraised Value Objection Notice" via DocuSign save a copy to your property folder in Dropbox.

Contract Deadline: Appraisal Objection DeadlineUltimate Nomad ChecklistWeek 13

If the property appraised for less than Purchase Price and you want to terminate based on Appraisal, ask your Real Estate Broker to prepare a "Notice To Terminate" and "Earnest Money Release" before the Appraisal Objection Deadline to protect your Earnest Money.

Contract Deadline: Appraisal Objection DeadlineUltimate Nomad ChecklistWeek 13

If the property appraised for less than Purchase Price and you want to terminate based on Appraisal sign the "Notice To Terminate" and "Earnest Money Release" via DocuSign before the Appraisal Objection Deadline to protect your Earnest Money.

Contract Deadline: Appraisal Objection DeadlineUltimate Nomad ChecklistWeek 13

Once you sign the "Notice To Terminate" and "Earnest Money Release" via DocuSign save a copy of them to your property folder in Dropbox. Once you get them back signed from the Seller, replace your copies with the fully executed copies in your property folder in Dropbox.

Contract Deadline: Appraisal Objection DeadlineUltimate Nomad ChecklistWeek 13

Complete the "Appraisal Resolution Deadline" checklist:

https://RealEstateFinancialPlanner.com/appraisal-resolution-deadline/

Contract Deadline: Appraisal Resolution DeadlineContract To Close: AppraisalUltimate Nomad ChecklistWeek 13

If you've objected to the Appraisal, your Real Estate Broker should negotiate on your behalf to find an acceptable compromise to the property appraising lower than Purchase Price.

Contract Deadline: Appraisal Resolution DeadlineUltimate Nomad ChecklistWeek 13

If you've come to a resolution regarding your Appraisal, then your Real Estate Broker should prepare an "Amend/Extend" to the "Contract to Buy and Sell Real Estate" to document the resolution and prepare your "Appraised Value Objection Notice" to have you withdraw it so your contract does not terminate.

Contract Deadline: Appraisal Resolution DeadlineUltimate Nomad ChecklistWeek 13

If you've come to a resolution regarding your Appraisal, then sign the "Amend/Extend" to the "Contract to Buy and Sell Real Estate" to document the resolution and sign the withdrawal section of the "Appraised Value Objection Notice" via DocuSign.

Contract Deadline: Appraisal Resolution DeadlineUltimate Nomad ChecklistWeek 13

Save the "Amend/Extend" to the "Contract to Buy and Sell Real Estate" and withdrawn "Appraised Value Objection Notice" that you signed via DocuSign to your property folder in Dropbox.

You'll replace the "Amend/Extend" with the copy signed by both you and the Seller once the Seller signs it.

Contract Deadline: Appraisal Resolution DeadlineUltimate Nomad ChecklistWeek 13

Complete the "Contract To Close: Survey" checklist:

https://RealEstateFinancialPlanner.com/survey/

Contract To CloseContract To Close: SurveyUltimate Nomad ChecklistWeek 13

Complete the "New ILC or New Survey Deadline" checklist:

https://RealEstateFinancialPlanner.com/new-ilc-or-new-survey-deadline/

Contract Deadline: New ILC or New Survey DeadlineContract To Close: SurveyUltimate Nomad ChecklistWeek 13

If in your "Contract to Buy and Sell Real Estate" we negotiated to have the Seller provide a new ILC or a new survey, we will coordinate with the Seller and/or Seller's Real Estate Broker to get you a copy of the new ILC or new survey.

It is somewhat unusual to have a Seller agree to pay for a new ILC or new survey.

Contract Deadline: New ILC or New Survey DeadlineUltimate Nomad ChecklistWeek 13

If in your "Contract to Buy and Sell Real Estate" we agreed that you would order and pay for an ILC or survey if you wanted or needed one, then we would provide you with a list of possible Surveyors for you to consider using to get your new ILC or new survey.

Contract Deadline: New ILC or New Survey DeadlineUltimate Nomad ChecklistWeek 13

If in your "Contract to Buy and Sell Real Estate" we agreed that you would order and pay for an ILC or survey if you wanted or needed one, then you would order and pay for a new ILC or new survey.

If you're buying a home in a subdivision, it is unusual to order an ILC or survey but you have the right to do so.

Contract Deadline: New ILC or New Survey DeadlineUltimate Nomad ChecklistWeek 13

Complete the "New ILC or New Survey Objection Deadline" checklist:

https://RealEstateFinancialPlanner.com/new-ilc-or-new-survey-objection-deadline/

Contract Deadline: New ILC or New Survey Objection DeadlineContract To Close: SurveyUltimate Nomad ChecklistWeek 13

Review the ILC or survey.

Your Real Estate Broker does not receive training on ILCs or surveys and so they are not qualified to interpret them or answer questions. If you have questions about them please ask the surveyor and/or your Attorney.

Contract Deadline: New ILC or New Survey Objection DeadlineUltimate Nomad ChecklistWeek 13

If you're objecting to something related to your ILC or survey, we would prepare a "Title-Related Objection Notice" for you to sign.

This must be done prior to the New ILC or New Survey Objection Deadline to protect your Earnest Money.

Contract Deadline: New ILC or New Survey Objection DeadlineUltimate Nomad ChecklistWeek 13

If you're objecting to something related to your ILC or survey sign the "Title-Related Objection Notice" via DocuSign to protect your Earnest Money.

This must be signed and delivered to the Seller and/or Seller's Real Estate Broker prior to the New ILC or New Survey Objection Deadline to protect your Earnest Money.

Contract Deadline: New ILC or New Survey Objection DeadlineUltimate Nomad ChecklistWeek 13

Once you've signed the "Title-Related Objection Notice" via DocuSign to protect your Earnest Money, save a copy of it to your property folder in Dropbox.

Contract Deadline: New ILC or New Survey Objection DeadlineUltimate Nomad ChecklistWeek 13

If you're terminating based on something related to your ILC or survey, we would prepare a "Notice To Terminate" and "Earnest Money Release" for you to sign.

This must be done prior to the New ILC or New Survey Objection Deadline to protect your Earnest Money.

Contract Deadline: New ILC or New Survey Objection DeadlineUltimate Nomad ChecklistWeek 13

If you're terminating based on something related to your ILC or survey, sign the "Notice To Terminate" and "Earnest Money Release" when your Real Estate Broker sends it over.

This must be done prior to the New ILC or New Survey Objection Deadline to protect your Earnest Money.

Contract Deadline: New ILC or New Survey Objection DeadlineUltimate Nomad ChecklistWeek 13

Once you've signed the "Notice To Terminate" and "Earnest Money Release", save copies to your property folder in Dropbox.

You will replace them in Dropbox when the Seller signs them and you receive your final copy.

Contract Deadline: New ILC or New Survey Objection DeadlineUltimate Nomad ChecklistWeek 13

Complete the "New ILC or New Survey Resolution Deadline" checklist:

https://RealEstateFinancialPlanner.com/new-ilc-or-new-survey-resolution-deadline/

Contract Deadline: New ILC or New Survey Resolution DeadlineContract To Close: SurveyUltimate Nomad ChecklistWeek 13

If you've objected to the ILC or survey, your Real Estate Broker should negotiate on your behalf to find an acceptable compromise.

If you've objected and do you withdraw the objection prior to the New ILC or New Survey Resolution Deadline, the contract terminates by default. So, discuss with your Real Estate Broker if you want to continue with the purchase and you have not come to a resolution prior to this deadline. Give your Real Estate Broker enough time for you to withdraw your objection prior to this deadline if you want to continue and not terminate.

Contract Deadline: New ILC or New Survey Resolution DeadlineUltimate Nomad ChecklistWeek 13

If you've come to a resolution regarding your ILC or survey, then your Real Estate Broker should prepare an "Amend/Extend" to the "Contract to Buy and Sell Real Estate" to document the resolution and prepare your “Title-Related Objection Notice” to have you withdraw it so your contract does not terminate.

Contract Deadline: New ILC or New Survey Resolution DeadlineUltimate Nomad ChecklistWeek 13

If you've come to a resolution regarding your Appraisal, then sign the "Amend/Extend" to the "Contract to Buy and Sell Real Estate" to document the resolution and sign the withdrawal section of the "Title-Related Objection Notice" via DocuSign.

Contract Deadline: New ILC or New Survey Resolution DeadlineUltimate Nomad ChecklistWeek 13

Save the "Amend/Extend" to the "Contract to Buy and Sell Real Estate" and withdrawn "Title-Related Objection Notice" that you signed via DocuSign to your property folder in Dropbox.

You'll replace the "Amend/Extend" with the copy signed by both you and the Seller once the Seller signs it.

Contract Deadline: New ILC or New Survey Resolution DeadlineUltimate Nomad ChecklistWeek 13

Complete the "Contract To Close: Inspection and Due Diligence" checklist:

https://RealEstateFinancialPlanner.com/inspection-and-due-diligence/

Contract To CloseContract To Close: Inspection and Due DiligenceUltimate Nomad ChecklistWeek 13

Watch the recording of the live presentation of "Negotiating Win-Win Inspections for Maximum Benefit" available on:

https://RealEstateFinancialPlanner.com/property-inspection-classes/

ClassesContract To Close: Inspection and Due DiligenceInspectionUltimate Nomad ChecklistWeek 8

Complete the "Inspection Objection Deadline" checklist:

https://RealEstateFinancialPlanner.com/inspection-objection-deadline/

Contract Deadline: Inspection Objection DeadlineContract To Close: Inspection and Due DiligenceUltimate Nomad ChecklistWeek 13

If you have not done so recently, review the recording of the live presentation of "Negotiating Win-Win Inspections for Maximum Benefit" available on:

https://RealEstateFinancialPlanner.com/property-inspection-classes/

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 8

Now that you're under contract, it is time to double check rents for the property so you can object using the Inspection Objection if rents will not work for you.

Research comparable rental property rent rates.

We are testing a subscription service that provides rental comps, so ask your Real Estate Broker to pull a report on your property to see what rent comps are from that service.

You may also want to contact your Property Manager if you're going to use one to get an idea of what they think rents would be.

Mark this task done when complete.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 8

Your Real Estate Broker should provide you with a list of Home Inspectors. You can use whoever you wish including Home Inspectors not on the recommended list.

ASAPContract Deadline: Inspection Objection DeadlineDream TeamDream Team - Pre-ClosingInspectionUltimate Nomad ChecklistWeek 61Week 9

Determine who you will use to inspect your new property when you go under contract.

Ask your Real Estate Broker for a recommendation.

Mark this task complete when you've decided which Home Inspector you'll use when you go under contract.

ASAPContract Deadline: Inspection Objection DeadlineDream TeamDream Team - Pre-ClosingInspectionUltimate Nomad ChecklistWeek 61Week 9

After you go under contract decide whether you will do a Radon Test as part of your inspection on the property.

Mark this task complete when you decide.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 61Week 9

Determine who you will use to test for radon once you have a property under contract. Often this is the same person you selected as your Home Inspector.

Ask your Real Estate Broker or Home Inspector for a recommendation.

Mark this task complete once you've decided which Radon Testing Company you'll use.

Contract Deadline: Inspection Objection DeadlineDream TeamDream Team - Pre-ClosingInspectionOptionalUltimate Nomad ChecklistWeek 61Week 9

If you've decided to have a Radon Test performed, hire Radon Test Company to do Radon Test ideally during the same time your Home Inspector will be there inspecting the property. It may even be the Home Inspector doing the Radon Test.

Mark this complete after you receive the results of your Radon Test if you decide to perform a Radon Test.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 61Week 9

After you go under contract decide whether you will do a Sewer Scope as part of your inspection on the property.

Mark this task complete when you decide.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 61Week 9

Decide which Sewer Scope Company you will use to do a Sewer Scope on the property.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on a Sewer Scope Company to use.

Contract Deadline: Inspection Objection DeadlineDream TeamDream Team - Pre-ClosingInspectionUltimate Nomad ChecklistWeek 61Week 9

If you've decided to have a Sewer Scope performed, hire Sewer Scope Company to do Sewer Scope ideally during the same time your Home Inspector will be there inspecting the property.

If you have any problems, I strongly recommend paying the extra fee to get the video of the problem to provide as evidence with any Inspection Objection.

Mark this complete after your Home Inspection if you decide to perform a Sewer Scope.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 61Week 9

After you go under contract decide whether you will do a Methamphetamine Test as part of your inspection on the property.

Mark this task complete when you decide.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 61Week 9

Decide which Meth Test Company you will use to do a Meth Test on the property.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on a Meth Test Company to use.

Contract Deadline: Inspection Objection DeadlineDream TeamDream Team - Pre-ClosingInspectionUltimate Nomad ChecklistWeek 61Week 9

If you've decided to have a Meth Test performed, hire Meth Test Company to do Meth Test ideally during the same time your Home Inspector will be there inspecting the property.

Mark this complete after your Home Inspection if you decide to perform a Meth Test.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 61Week 9

Contact your Insurance Agent once you're under contract on the property and ask them to provide you a copy of the CLUE Report for the property. This gives you a history of the insurance claims made against the property.

Mark this task complete once you've received a copy of the CLUE Report from your Insurance Agent.

Contract Deadline: Inspection Objection DeadlineInspectionMaking OffersUltimate Nomad ChecklistWeek 9

Bring a copy of the CLUE Report from your Insurance Agent to the Home Inspection so you can use it to look closer at any items you have questions about with your Home Inspector during the inspection.

Mark this task complete once you finished the Home Inspection.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 61Week 9

Bring a copy of the "Seller's Property Disclosure" to Home Inspection so you can use it to look closer at any items you have questions about with your Home Inspector during the inspection.

Mark this task complete once you finished the Home Inspection.

Contract Deadline: Inspection Objection DeadlineInspectionSellers Property DisclosureUltimate Nomad ChecklistWeek 61Week 9

Go to Home Inspection with your Home Inspector.

Your Real Estate Broker usually does not attend.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 9

As the ability to record audio and video gets less expensive and more easily accessible, be aware that a Seller may record audio and video of inside their home while you're at the inspection.

WARNING: Don't say or do anything at an inspection you wouldn't say or do right in front of the Seller. They may be recording you.

Yes, I'm paranoid, but just because I'm paranoid doesn't mean they aren't really recording.

Mark this task done when complete.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 8

With the help of your Home Inspector, find out the location of the main water shutoff to the property in case you ever need it.

Write down the location somewhere where you'll remember it.

Mark this task done when complete.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 8

Check to make sure that you have CO (carbon monoxide) detectors installed within 15 feet of each bedroom.

Some Lenders will have their Appraiser check to make sure they are there. If they're not, the Appraiser will charge you a second trip fee to go back out and check to make sure they are there before Closing. Easier to check at the inspection (with the help of your Home Inspector) so we can let the Seller's Real Estate Broker know to have them installed prior to the Appraiser going to the property for the Appraisal.

Mark this task done when complete.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 8

While at your inspection, if the appliances are important to you, photograph them and maybe photograph the model numbers of them.

It is exceptionally rare, but some Sellers may try to switch out appliances between the inspection and Closing. If you have photos of the appliances and the model numbers it will make it easier to show what was installed at the time of the inspection.

And, yes, I know I am paranoid.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 8

After your Home Inspector sends you a copy of the Home Inspection Report after your Home Inspection, review it.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 9

Save a copy of the Home Inspection report from your Home Inspector to the property folder in Dropbox.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 9

Save a copy of the radon test results from your Radon Test Company to the property folder in Dropbox.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 9

Save a copy of the sewer scope report from your Sewer Scope Company to the property folder in Dropbox.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 9

Save a copy of the meth test report from your Meth Test Company to the property folder in Dropbox.

Contract Deadline: Inspection Objection DeadlineInspectionUltimate Nomad ChecklistWeek 9

If you're going to object to anything during your Home Inspection discuss what you're objecting to and have Real Estate Broker prepare an "Inspection Objection".

Make sure you wait to get all your reports back before objecting like your sewer scope, radon test results, and methamphetamine test results.

IMPORTANT: This must be done prior to your "Inspection Objection Deadline".

Mark this complete when you completed an "Inspection Objection" or if you're not going to object.

Contract Deadline: Inspection Objection DeadlineInspectionPaperworkUltimate Nomad ChecklistWeek 9

Once your Real Estate Broker completes the "Inspection Objection" with your help, sign the "Inspection Objection" via DocuSign.

IMPORTANT: This must be done prior to your "Inspection Objection Deadline".

Mark this complete when you completed an "Inspection Objection" or if you're not going to object.

Contract Deadline: Inspection Objection DeadlineInspectionPaperworkUltimate Nomad ChecklistWeek 9

Save a copy of your "Inspection Objection" in your property folder on Dropbox after you've signed it via DocuSign.

Mark this complete when done.

Contract Deadline: Inspection Objection DeadlineInspectionPaperworkUltimate Nomad ChecklistWeek 9

If you find out information during your inspection period so egregious that there is no possible resolution with the Seller, you can choose to terminate and protect your Earnest Money.

Ask your Real Estate Broker to prepare a "Notice To Terminate" and "Earnest Money Release" prior to your Inspection Objection Deadline.

Mark this complete when done.

Contract Deadline: Inspection Objection DeadlineInspectionPaperworkUltimate Nomad ChecklistWeek 9

If you find out information during your inspection period so egregious that there is no possible resolution with the Seller, you can choose to terminate and protect your Earnest Money.

Sign the "Notice To Terminate" and "Earnest Money Release" that your Real Estate Broker sends over to you via DocuSign. It must be delivered to the Seller and/or the Seller's Real Estate Broker prior to your Inspection Objection Deadline.

Mark this complete when done.

Contract Deadline: Inspection Objection DeadlineInspectionPaperworkUltimate Nomad ChecklistWeek 9

Once you've signed your "Notice To Terminate" and "Earnest Money Release" save a copy of each to your property folder on Dropbox.

Once the Seller signs, you can replace your copies with fully executed versions signed by you and the Seller.

Mark this complete when done.

Contract Deadline: Inspection Objection DeadlineInspectionPaperworkUltimate Nomad ChecklistWeek 9

Complete the "Inspection Resolution Deadline" checklist:

https://RealEstateFinancialPlanner.com/inspection-resolution-deadline/

Contract Deadline: Inspection Resolution DeadlineContract To Close: Inspection and Due DiligenceUltimate Nomad ChecklistWeek 13

Complete the "Property Insurance Objection Deadline" checklist:

https://RealEstateFinancialPlanner.com/property-insurance-objection-deadline/

Contract Deadline: Property Insurance Objection DeadlineContract To Close: Inspection and Due DiligenceUltimate Nomad ChecklistWeek 13

Your Real Estate Broker can provide you with a list of recommended Insurance Agents. You're welcome to choose any Insurance Agent you want whether they are on the list or not.

Mark this complete when done.

Analyzing DealsContract Deadline: Property Insurance Objection DeadlineDream TeamDream Team - Pre-ClosingFirst Meeting: Analyze DealUltimate Nomad ChecklistWeek 2Week 61Week 9

If you have already done so, decide which Insurance Agent you will use to insure your home purchase. You'll need this once you go under contract, but you'll want to do it earlier so you can get an estimate of insurance for analyzing deals.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on an Insurance Agent to use.

Analyzing DealsContract Deadline: Property Insurance Objection DeadlineDream TeamDream Team - Pre-ClosingFirst Meeting: Analyze DealUltimate Nomad ChecklistWeek 2Week 61Week 9

Now that you're under contract, it is time to get a firm Insurance Quote from your Insurance Agent.

If you are unable to get reasonable insurance on the property, you need to tell your Real Estate Broker prior to the "Property Insurance Objection Deadline" to be able to terminate and get your Earnest Money back.

Mark this task complete once you've gotten an acceptable Insurance Quote.

Contract Deadline: Property Insurance Objection DeadlineUltimate Nomad ChecklistWeek 9

If you're immediately going to have a Tenant or Tenant-Buyer in the property, you should discuss with your Insurance Agent getting "Loss of Rent" coverage to cover you in case you can't collect rent on the property.

Contract Deadline: Property Insurance Objection DeadlineUltimate Nomad ChecklistWeek 9

If you are buying a townhome/condo, we would also suggest asking your Insurance Agent about Loss Assessment Coverage. It protects against additional assessments by the property association that wouldn't already be covered by their insurance, but I'd check with your agent about exactly what it would cover.

Contract Deadline: Property Insurance Objection DeadlineUltimate Nomad ChecklistWeek 9

Discuss how changing your deductible with your Insurance Agent might change the monthly cost and see how much risk you're comfortable with.

Contract Deadline: Property Insurance Objection DeadlineUltimate Nomad ChecklistWeek 9

If you cannot find acceptable insurance, let your Real Estate Broker know prior to the Property Insurance Objection Deadline so they can prepare a "Notice To Terminate" and "Earnest Money Release" with enough time for you to sign it and deliver it to the Seller and the Seller's Real Estate Broker prior to the Property Insurance Objection Deadline.

Contract Deadline: Property Insurance Objection DeadlineUltimate Nomad ChecklistWeek 9

If you cannot find acceptable insurance, sign the "Notice To Terminate" and "Earnest Money Release" your Real Estate Broker sent over via DocuSign.

You will need to sign it and have your Real Estate Broker deliver it to the Seller and the Seller's Real Estate Broker prior to the Property Insurance Objection Deadline to protect your Earnest Money.

Contract Deadline: Property Insurance Objection DeadlineUltimate Nomad ChecklistWeek 9

Once you sign the "Notice To Terminate" and "Earnest Money Release" via DocuSign then save a copy of each to your property folder in Dropbox.

You'll replace the "Earnest Money Release" once the Seller signs it as well.

Contract Deadline: Property Insurance Objection DeadlineUltimate Nomad ChecklistWeek 9

Complete the "Due Diligence Documents Delivery Deadline" checklist:

https://RealEstateFinancialPlanner.com/due-diligence-documents-delivery-deadline/

Contract Deadline: Due Diligence Documents Delivery DeadlineContract To Close: Inspection and Due DiligenceUltimate Nomad ChecklistWeek 13

If you're buying a property that has tenants in the property, you should review the current leases during the Due Diligence period.

This should include:

• Leases for all tenants
• Lead-Based Paint Disclosure (if built prior to 1978)
• Co-signor agreements (if applicable)
• Mold Disclosure (if applicable)
• Move-In Inspection
• Occupancy Limits Disclosure (required in Fort Collins)
• Tenant Estoppel Statements

If you have an objection (or want to terminate based on what you find in the leases) you'd need to object by the Due Diligence Objection Deadline.

Mark this task done once you've reviewed the existing leases and related paperwork.

Contract Deadline: Due Diligence Documents Delivery DeadlinePaperworkUltimate Nomad ChecklistWeek 9

Complete the "Due Diligence Documents Objection Deadline" checklist:

https://RealEstateFinancialPlanner.com/due-diligence-documents-objection-deadline/

Contract Deadline: Due Diligence Documents Objection DeadlineContract To Close: Inspection and Due DiligenceUltimate Nomad ChecklistWeek 13

If you're objecting to anything in the Due Diligence documents you received, then your Real Estate Broker should prepare the "Title-Related Objection Notice" for you to sign to protect your Earnest Money.

It must be delivered prior to the Due Diligence Documents Objection Deadline.

Contract Deadline: Due Diligence Documents Objection DeadlineUltimate Nomad ChecklistWeek 13

If you're objecting to anything in the Due Diligence documents you received then sign the "Title-Related Objection Notice" that your Real Estate Broker prepared when they send it over via DocuSign.

It must be signed and delivered to the Seller and/or the Seller's Real Estate Broker prior to the Due Diligence Documents Objection Deadline to protect your Earnest Money.

Contract Deadline: Due Diligence Documents Objection DeadlineUltimate Nomad ChecklistWeek 13

Save a copy of the "Title-Related Objection Notice" that you signed via DocuSign to your property folder in Dropbox.

Contract Deadline: Due Diligence Documents Objection DeadlineUltimate Nomad ChecklistWeek 13

If you find out information in your Due Diligence documents so egregious that there is no possible resolution with the Seller, you can choose to terminate and protect your Earnest Money.

Ask your Real Estate Broker to prepare a "Notice To Terminate" and "Earnest Money Release" prior to your Due Diligence Documents Objection Deadline.

Mark this complete when done.

Contract Deadline: Due Diligence Documents Objection DeadlineUltimate Nomad ChecklistWeek 13

If you find out information from your Due Diligence documents so egregious that there is no possible resolution with the Seller, you can choose to terminate and protect your Earnest Money.

Sign the "Notice To Terminate" and "Earnest Money Release" that your Real Estate Broker sends over to you via DocuSign. It must be delivered to the Seller and/or the Seller's Real Estate Broker prior to your Due Diligence Documents Objection Deadline.

Mark this complete when done.

Contract Deadline: Due Diligence Documents Objection DeadlineUltimate Nomad ChecklistWeek 13

Once you've signed your "Notice To Terminate" and "Earnest Money Release" save a copy of each to your property folder on Dropbox.

Once the Seller signs, you can replace your copies with fully executed versions signed by you and the Seller.

Mark this complete when done.

Contract Deadline: Due Diligence Documents Objection DeadlineUltimate Nomad ChecklistWeek 13

Complete the "Due Diligence Documents Resolution Deadline" checklist:

https://RealEstateFinancialPlanner.com/due-diligence-documents-resolution-deadline/

Contract Deadline: Due Diligence Documents Resolution DeadlineContract To Close: Inspection and Due DiligenceUltimate Nomad ChecklistWeek 13

If you objected to Due Diligence documents, your Real Estate Broker with your assistance will negotiate with the Seller and Seller's Real Estate Broker to find terms that are acceptable for you.

IMPORTANT: This must be done prior to Due Diligence Documents Resolution Deadline. If you have not come to terms by the Due Diligence Documents Resolution Deadline and you still want to purchase the property you must withdraw your objection prior to the Due Diligence Documents Resolution Deadline or your contract will terminate.

Contract Deadline: Due Diligence Documents Resolution DeadlineUltimate Nomad ChecklistWeek 13

If you've come to a resolution regarding your due diligence documents concerns, then your Real Estate Broker should prepare an "Amend/Extend" to the "Contract to Buy and Sell Real Estate".

In addition, they should prepare your "Title-Related Objection Notice" to have you withdraw it so your contract does not terminate.

Contract Deadline: Due Diligence Documents Resolution DeadlineUltimate Nomad ChecklistWeek 13

If you've come to a resolution regarding your due diligence documents, then sign the "Amend/Extend" to the "Contract to Buy and Sell Real Estate".

Additionally, sign the withdrawal section of the "Title-Related Objection Notice" via DocuSign.

Contract Deadline: Due Diligence Documents Resolution DeadlineUltimate Nomad ChecklistWeek 13

Save the "Amend/Extend" to the "Contract to Buy and Sell Real Estate" that you signed via DocuSign to your property folder in Dropbox.

Also, save the "Title-Related Objection Notice" that you withdrew to your property folder in Dropox overwriting the previous one.

You'll replace the "Amend/Extend" with the copy signed by both you and the Seller once the Seller signs it.

Contract Deadline: Due Diligence Documents Resolution DeadlineUltimate Nomad ChecklistWeek 13

If you are unable to come to a resolution with the Seller over your due diligence documents but you still want to purchase the property, you will need to withdraw your "Title-Related Objection Notice" prior to the Due Diligence Documents Resolution Deadline.

Sign the withdrawal section of the "Title-Related Objection Notice" that your Real Estate Broker sends over via DocuSign.

Contract Deadline: Due Diligence Documents Resolution DeadlineUltimate Nomad ChecklistWeek 13

After signing the withdrawal section of the "Title-Related Objection Notice" via DocuSign, save a copy of it to your property folder on Dropbox.

Contract Deadline: Due Diligence Documents Resolution DeadlineUltimate Nomad ChecklistWeek 13

Complete the "Conditional Sale Deadline" checklist:

https://RealEstateFinancialPlanner.com/conditional-sale-deadline/

Contract Deadline: Conditional Sale DeadlineContract To Close: Inspection and Due DiligenceUltimate Nomad ChecklistWeek 13

Often your Real Estate Broker is listing the property for sale that you need to sell to be able to buy this property. In those cases, your Real Estate Broker is helping you sell that property.

Contract Deadline: Conditional Sale DeadlineUltimate Nomad ChecklistWeek 13

While working toward selling your other property, your Real Estate Broker should keep the Seller's Real Estate Broker informed of progress.

Contract Deadline: Conditional Sale DeadlineUltimate Nomad ChecklistWeek 13

If you're unable to sell your property to meet the terms of this "Contract to Buy and Sell Real Estate", your Real Estate Broker would prepare a "Notice To Terminate" and "Earnest Money Release" to protect your Earnest Money.

You would need to sign it and have it submitted to the Seller and/or the Seller's Real Estate Broker prior to the Conditional Sale Deadline to protect your Earnest Money.

Contract Deadline: Conditional Sale DeadlineUltimate Nomad ChecklistWeek 13

If you're terminating, sign the "Notice To Terminate" and "Earnest Money Release" that your Real Estate Broker sends over via DocuSign.

You would need to sign it and have it submitted to the Seller and/or the Seller's Real Estate Broker prior to the Conditional Sale Deadline to protect your Earnest Money.

Contract Deadline: Conditional Sale DeadlineUltimate Nomad ChecklistWeek 13

Once you sign the "Notice To Terminate" and "Earnest Money Release" that your Real Estate Broker sends over via DocuSign, save them to your property folder in Dropbox.

You will replace the "Earnest Money Release" when the Seller signs it.

Contract Deadline: Conditional Sale DeadlineUltimate Nomad ChecklistWeek 13

If you're unable to sell your property to meet the terms of this "Contract to Buy and Sell Real Estate" but we are able to successfully negotiate an extension of this deadline with the Seller, your Real Estate Broker would prepare an "Amend/Extend" to extend this deadline to protect your Earnest Money.

You would need to sign it and have it submitted to the Seller and/or the Seller's Real Estate Broker prior to the Conditional Sale Deadline to protect your Earnest Money.

Contract Deadline: Conditional Sale DeadlineUltimate Nomad ChecklistWeek 13

If you and your Real Estate Broker have negotiated an extension of this deadline, sign the "Amend/Extend" that your Real Estate Broker sends over via DocuSign.

You would need to sign it and have it submitted to the Seller and/or the Seller's Real Estate Broker prior to the Conditional Sale Deadline to protect your Earnest Money.

Contract Deadline: Conditional Sale DeadlineUltimate Nomad ChecklistWeek 13

Once you sign the "Amend/Extend" that your Real Estate Broker sends over via DocuSign, save it to your property folder in Dropbox.

You will replace it when the Seller signs it with the fully executed version.

Contract Deadline: Conditional Sale DeadlineUltimate Nomad ChecklistWeek 13

If you objected using an "Inspection Objection", you will usually use an "Inspection Resolution" form with the help of your Real Estate Broker to come to a resolution to what you and the Seller agreed to regarding the inspection items.

After the "Inspection Objection" your Real Estate Broker with your assistance will negotiate with the Seller and Seller's Real Estate Broker to find terms that are acceptable for you.

IMPORTANT: This must be done prior to Inspection Resolution Deadline. If you have not come to terms by the Inspection Resolution Deadline and you still want to purchase the property you must withdraw your "Inspection Objection" prior to the Inspection Resolution Deadline or your contract will terminate.

The inspection process has lots of nuance so discuss this in detail with your Real Estate Broker.

Mark this complete once you've come to terms on your inspection resolution with a fully executed "Inspection Resolution" form, withdrawn your "Inspection Objection" or did not object at all.

Contract Deadline: Inspection Resolution DeadlineInspectionUltimate Nomad ChecklistWeek 10

If you've come to a resolution regarding your inspection concerns, then your Real Estate Broker should prepare either an "Amend/Extend" to the "Contract to Buy and Sell Real Estate" or an "Inspection Resolution" to document the resolution.

In addition, they should prepare your "Inspection Objection" to have you withdraw it so your contract does not terminate.

Contract Deadline: Inspection Resolution DeadlineInspectionUltimate Nomad ChecklistWeek 10

If you've come to a resolution regarding your inspection, then sign the "Amend/Extend" to the "Contract to Buy and Sell Real Estate" or "Inspection Resolution" to document the resolution.

Additionally, sign the withdrawal section of the "Inspection Objection" via DocuSign.

Contract Deadline: Inspection Resolution DeadlineInspectionUltimate Nomad ChecklistWeek 10

Save the "Amend/Extend" to the "Contract to Buy and Sell Real Estate" or "Inspection Resolution" that you signed via DocuSign to your property folder in Dropbox.

Also, save the "Inspection Objection" that you withdrew to your property folder in Dropox overwriting the previous one.

You'll replace the "Amend/Extend" or "Inspection Resolution" with the copy signed by both you and the Seller once the Seller signs it.

Contract Deadline: Inspection Resolution DeadlineInspectionUltimate Nomad ChecklistWeek 10

If you are unable to come to a resolution with the Seller over your inspection but you still want to purchase the property, you will need to withdraw your "Inspection Objection" prior to the Inspection Resolution Deadline.

Sign the withdrawal section of the "Inspection Objection" that your Real Estate Broker sends over via DocuSign.

Contract Deadline: Inspection Resolution DeadlineInspectionUltimate Nomad ChecklistWeek 10

After signing the withdrawal section of the "Inspection Objection" via DocuSign, save a copy of it to your property folder on Dropbox.

Contract Deadline: Inspection Resolution DeadlineInspectionUltimate Nomad ChecklistWeek 10

Complete the "Contract To Close: Closing and Possession" checklist:

https://RealEstateFinancialPlanner.com/closing-and-possession/

Contract To CloseContract To Close: Closing and PossessionUltimate Nomad ChecklistWeek 13

Complete the "Closing Date" checklist:

https://RealEstateFinancialPlanner.com/closing-date/

Contract Deadline: Closing DateContract To Close: Closing and PossessionUltimate Nomad ChecklistWeek 13

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

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

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

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

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

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

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

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

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

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

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

Bring the following with you to Closing:

• 2 forms of photo ID
• Your checkbook - sometimes there will be a last minute adjustment to the closing numbers resulting in a small shortage that the Title Insurance Company will accept a personal check for
• Your funds required for Closing (usually a certified check)

Closing: Closing FinancingClosing: Closing Real EstateContract Deadline: Closing DateDown PaymentUltimate Nomad ChecklistWeek 13

Attend the Closing.

Be sure to bring certified funds, two forms of ID and your checkbook.

Mark this task complete after Closing.

Closing: Closing FinancingClosing: Closing Real EstateContract Deadline: Closing DateDown PaymentUltimate Nomad ChecklistWeek 13

Complete the "Possession Date" checklist:

https://RealEstateFinancialPlanner.com/possession-date/

Contract Deadline: Possession DateContract To Close: Closing and PossessionUltimate Nomad ChecklistWeek 13

You'll want to change your address with the United States Post Office.

If your mailbox is locked, you'll need to bring your deed (which you'll receive at Closing) down to the United States Post Office to get a new key.

Contract Deadline: Possession DateUltimate Nomad ChecklistWeek 13

Complete the "Change of Address" checklist:

https://RealEstateFinancialPlanner.com/change-of-address/

Change AddressContract Deadline: Possession DateUltimate Nomad ChecklistWeek 13

Instead of updating your mailing address each time you buy a property, you may want to consider updating as many of your accounts as possible to electronic statements to avoid having to update them each time you move.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

To avoid constantly updating your address as you move each year with Nomad, you may want to consider getting a post office box or private mailbox from a company like the UPS Store.

Then, have all your mail always go to that mailbox to avoid having to update them with each purchase/move.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

After Closing you should go down to your local post office and get a new key for your mailbox (if your mailbox has a lock). You can do this at the same time you set up mail forwarding.

You will usually need to bring down a copy of your deed (which you'll receive at closing) to do this.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

After Closing you should go down to your local post office and set up forwarding of your mail to your new property address. You can do this at the same time you get your new mailbox key.

You will usually need to bring down a copy of your deed (which you'll receive at closing) to do this.

There will probably be a small fee to do this. I've heard $1.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

Contact each of your Debit/Credit Card companies and update your address with each one of them.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

Contact each of your mortgage holders (for other homes and rental properties) and update your address with each one of them.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

We normally recommend that you put the Utilities in your name on the property you're buying prior to Closing to start the day of Closing. This however should remind you in case you forgot to do that AND, additionally, remind you to update your address with Utilities for properties other than the one you're buying now.

Update your address with all Utilities on the property you're buying and any rental properties you own as well.

Here is a list to help:

• Gas
• Water (including any water associations if applicable)
• Trash
• Electric
• Garbage
• Cable television
• Internet service provider

NOTE: If you have Tenants or Tenant-Buyers in the property ask to get a Landlord policy for utilities so that your utilities will automatic switch into your name when the Tenant or Tenant-Buyer stops paying or removes them from their name.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

Update your address with the Insurance Companies that insure your properties (including this one and any rentals), cars and anything else.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

Update your address with all the places you bank including Banks and Credit Unions.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

Update your address with all Home Owner's Associations (HOAs) including the property your buying and all your rental properties.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

Contact each of your employers and update your address with each one of them.

In many cases contacting Human Resources will update everything, but in some cases you may need to contact multiple departments. If you have to contact different departments, be sure to do that. Some examples of different departments might include:

• Your retirement accounts with your employer
• your health care account with your employer
• payroll with your employer

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

Contact each of your Health/Dental Insurance Providers and update your address with each one of them.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

After you move-in update your address and contact info with the County you live in.

This allows them to send your auto registration to the correct address.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

Contact each of your IRA, 401K, Investment Account or Retirement Account Companies and update your address with each one of them.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

Contact all your subscriptions and update your address with each of them.

Some reminders of what you may have include:

• Cable television
• Internet Service Provider (ISP)
• Magazines, newsletters and newspapers
• Netflix
• Software subscriptions like Dropbox, Spotify, Apple Music, Evernote, Lastpass etc

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

Notify the friends and family that you want to know where you live of your new address and contact info.

Some clients may opt to use this opportunity to clean up their friends list.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

If your Tenants and/or Tenant-Buyers are sending rent or giving you notice at your previous home address, then make sure you update each of them with your new address.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

If you're using a moving truck and hiring movers to help you move, you'll want to schedule those in advance of your Possession Date so they're ready for you when you get possession of the property.

Contract Deadline: Possession DateUltimate Nomad ChecklistWeek 13

Your Real Estate Broker will typically provide you with a list of locksmiths so you can have the locks rekeyed at your property.

We strongly recommend you rekey the locks to your property as soon as possible.

Contract Deadline: Possession DateUltimate Nomad ChecklistWeek 13

Your Real Estate Broker will typically provide you with a list of utility providers for your property so you can call and have them put into your name.

You should do this about a week prior to Closing or if the Seller is staying in the property after Closing then Possession Date.

IMPORTANT NOTE: The day of Closing belongs to the Buyer so utilities should start on Closing.

Contract Deadline: Possession DateUltimate Nomad ChecklistWeek 13

About a week prior to Closing or if the Seller is staying in the property after Closing then Possession Date you should call each utility provider and have the utilities switched into your name.

IMPORTANT NOTE: The day of Closing belongs to the Buyer so utilities should start on Closing.

Contract Deadline: Possession DateUltimate Nomad ChecklistWeek 13

If your property has common area resources like a clubhouse where residents get a key, your Real Estate Broker will coordinate with the Seller, Seller's Real Estate Broker and HOA to get you a key to these common area resources when you get possession of the property.

Contract Deadline: Possession DateUltimate Nomad ChecklistWeek 13

Complete the "Possession Time" checklist:

https://RealEstateFinancialPlanner.com/possession-time/

Contract Deadline: Possession TimeContract To Close: Closing and PossessionUltimate Nomad ChecklistWeek 13

Take possession of the property and move in.

Contract Deadline: Possession DateContract Deadline: Possession TimeUltimate Nomad ChecklistWeek 13

Call your Lender and get an Interest Rate quote estimate to use when analyzing properties using Brian's Deal Analysis Spreadsheet.

You'll modify this as interest rates change or as your loan program changes for the property you're analyzing.

Mark this task complete when you have an interest rate estimate to use when analyzing deals using Brian's Spreadsheet.

Analyzing DealsASAPCash FlowFinancingNet Operating IncomeUltimate Nomad ChecklistWeek 2

If this is a Partnership. Create a folder for this Partnership on my computer inside Dropbox.

Recommend that you use the name of Partnership as folder name.

Mark this complete when done.

Computer SetupPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

Negotiate the terms of your partnership with your partners.

Mark this task complete when finished.

PartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

Determine the entity that you'll use for Partnership. Often this will be an LLC, but meet with your Entity Attorney to discuss what might be best for your unique situation.

ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

Create list of questions about partnerships for Attorney.

Mark complete once you've got your list of questions.

PartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

Read through your LLC Operating Agreement.

Highlight sections you have questions about. Write down any questions you have.

Mark this task complete once you've read your Operating Agreement and marked up any sections you have questions on. You will be meeting with your Entity Attorney to get your questions answered in another task.

ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

Once you've read through your Operating Agreement and highlighted sections you have questions about, bring your questions to a meeting with your Entity Attorney.

Mark this task complete once you understand and feel comfortable with your Operating Agreement.

ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

Search for available names for your LLC on the Secretary of State website.

Mark done when you've found a name that you can use for your LLC that is not already being used.

ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

Once you've looked up names on the Secretary of State website, decide what name you'll use for your LLC.

Mark this task complete once you've decided.

ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

Important note: your Entity Attorney may do this on your behalf if you've hired them to create your entity.

Otherwise, register LLC with the Secretary of State by completing Articles of Organization. Save a copy of your Articles of Organization to your Partnership folder in Dropbox.

Mark this task complete once you've filed Articles of Organization.

ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

Make sure when you create your LLC that you subscribe the LLC record via email so you can receive email notices when your "Periodic Report" is due, etc.

ASAPAsset ProtectionLLCPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

Create your partnership agreement in writing. This is often an Operating Agreement if you're an LLC or a Partnership Agreement if you're a true Partnership).

PartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

Hold your official Organizational Meeting for the LLC and save a copy of your "Organization Meeting Minutes" to your LLC folder on Dropbox.

PartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

You'll need your Employee Identification Number (EIN) from the IRS to be able to open your LLC's bank account so request one from the IRS.

PartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

Armed with your Articles of Organization, Operating Agreement, Organizational Meeting minutes, EIN number and some money to deposit go to the bank and open your LLC bank account.

PartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

Create Articles of Organization for your LLC. This is usually done online on the Secretary of State website and is what registers your LLC with the state.

LLCPartnershipsUltimate Nomad ChecklistWeek 2

Create list of questions about partnerships for Accountant.

Mark complete once you've got your list of questions.

AccountingPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 2

For most Nomads you will not be buying in an entity. However, if you're buying as a partnership or in some cases if you're buying a non-owner-occupant rental property you may want to consider buying in an entity like an LLC. Buying properties in an entity complicates financing the property.

If you're buying in an entity, determine which Attorney that specializes in setting up entities you will use to setup your entity.

Ask your Real Estate Broker for a recommendation.

Mark this task as completed when you've determined who you'll use to set up your entity or if you're not buying in an entity for this purchase.

Asset ProtectionDream TeamDream Team - Pre-ClosingUltimate Nomad ChecklistWeek 3

Consider creating a Partnership Explanation Video for possible partners to watch to see if they'd be interested in being part of the Partnership.

Mark complete if you decide not to make the video or once you've made the video.

MarketingPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 3

Open bank account for Partnership.

You will likely need the Operating Agreement and/or meeting minutes to document your authorization to do so.

ASAPAsset ProtectionPartnershipsPartnerships - SetupUltimate Nomad ChecklistWeek 3

If you've created a new entity for your parntership, request an EIN for filing taxes.

AccountingBookkeepingBookkeeping and Accounting for NomadsPartnershipsUltimate Nomad ChecklistWeek 3

Meet with your Attorney to ask questions about partnerships.

Mark this task as complete once you've met with your Attorney and you have all your questions answered about partnerships.

LLCPartnershipsUltimate Nomad ChecklistWeek 3

Meet with your Accountant to ask questions about partnerships.

Mark this task as complete once you've met with your Accountant and you have all your questions answered about partnerships.

AccountingBookkeepingLLCPartnershipsUltimate Nomad ChecklistWeek 3

Read the "Return On Investment" blog post on

https://RealEstateFinancialPlanner.com/return-on-investment/

ASAPOptionalReturn On InvestmentUltimate Nomad ChecklistUnderstanding AppreciationWeek 18Week 4

Complete the "Closing" checklist:

https://RealEstateFinancialPlanner.com/closing/

Buying Process OverviewClosingDuring ChecklistsUltimate Nomad ChecklistWeek 12

Watch the recording of the live presentation of "Closing Real Estate Deals" available on:

https://RealEstateFinancialPlanner.com/closing-real-estate-deals/

ClassesClosingGet Your First Deal DoneNomad BasicsUltimate Nomad ChecklistWeek 61Week 9

Read "Closing: Prepare For Closing":

https://RealEstateFinancialPlanner.com/prepare-for-closing/

ClosingClosing: Prepare For ClosingUltimate Nomad ChecklistWeek 12

Read "Closing: Closing Real Estate":

https://RealEstateFinancialPlanner.com/closing-real-estate/

ClosingClosing: Closing Real EstateUltimate Nomad ChecklistWeek 13

Read "Closing: Closing Financing":

https://RealEstateFinancialPlanner.com/closing-financing/

ClosingClosing: Closing FinancingUltimate Nomad ChecklistWeek 13

Read "Closing: Immediately After":

https://RealEstateFinancialPlanner.com/immediately-after/

ClosingClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

Change the locks or have the current locks on your new property rekeyed.

Some landlords may want to put locks on that allow you to easily rekey the locks between future tenants.

Closing: Immediately AfterUltimate Nomad ChecklistWeek 13

Go to your favorite Home Improvement Store and buy a small fire extinguisher for your new home and put it underneath the sink in the kitchen.

You'll want this for safety reasons yourself if you move in as a Nomad but also for tenants once you move out and convert it to rental.

Buy at Home Improvement StoreClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

Review the "Post-Closing Occupancy Agreement".

PaperworkUltimate Nomad ChecklistWeek 6

Complete the "After" checklists:

https://RealEstateFinancialPlanner.com/after/

After ChecklistsUltimate Nomad ChecklistWeek 13

Complete the "Post-Closing" checklist:

https://RealEstateFinancialPlanner.com/post-closing/

After ChecklistsBuying Process OverviewPost-ClosingUltimate Nomad ChecklistWeek 13

Once you've closed on your property, you can safely turn off property search emails until you're ready to buy another property.

Ask your Real Estate Broker to pause the automatic property search emails for you until you're ready to start buying again.

Mark this task as complete when you've asked your Real Estate Broker to pause your property search emails.

Post-ClosingProperty SearchUltimate Nomad ChecklistWeek 14

Complete the "Dream Team - Post-Closing" checklist:

https://RealEstateFinancialPlanner.com/dream-team-post-closing/

AccountingBookkeepingBookkeeping and Accounting for NomadsDream Team - Post-ClosingPost-ClosingUltimate Nomad ChecklistWeek 44

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

If you're going to have your Lease (or any other paperwork you might sign) reviewed by an Attorney before you use it, you may want to determine who that attorney will be.

This attorney will also probably review your Contract to Buy and Sell Real Estate.

Ask your Real Estate Broker for a recommendation.

Mark this task as complete once you've decided which Contract and Paperwork Attorney you will use to help review your legal documents or if you're qualified to review them yourself.

Asset ProtectionDream TeamDream Team - Post-ClosingLeasePaperworkUltimate Nomad ChecklistWeek 54

Once you've read through the Lease and highlighted sections you have questions about, take your questions and meet with your Contract and Paperwork Attorney and go over your questions about the Lease.

Mark this task as complete once you feel comfortable with the Lease.

Dream TeamDream Team - Post-ClosingLeasePaperworkUltimate Nomad ChecklistWeek 44

Decide which Plumber you will use to do a should you have plumbing issues with your property.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on a Plumber to use.

Dream TeamDream Team - Post-ClosingUltimate Nomad ChecklistWeek 19

Decide which Flooring Company you will use to do carpet or other flooring on the property.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on a Flooring Company to use.

Dream TeamDream Team - Post-ClosingUltimate Nomad ChecklistWeek 21

Decide which Handyman you will use to do a should you have general maintenance issues with your property.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on a Handyman to use.

Dream TeamDream Team - Post-ClosingUltimate Nomad ChecklistWeek 18

Decide which Painter you will use to do painting on the property.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on a Painter to use.

Dream TeamDream Team - Post-ClosingUltimate Nomad ChecklistWeek 22

Decide which Roofing Company you will use to do roof related work on the property.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on a Roofing Company to use.

Dream TeamDream Team - Post-ClosingUltimate Nomad ChecklistWeek 23

Decide which HVAC Company you will use to do a heating and air conditioning work on the property.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on a HVAC Company to use.

Dream TeamDream Team - Post-ClosingUltimate Nomad ChecklistWeek 24

Decide which Electrician you will use to do electrical work on the property.

You can ask your Real Estate Broker for recommendations.

Mark this task complete once you've decided on an Electrician to use.

Dream TeamDream Team - Post-ClosingDream Team - Pre-ClosingUltimate Nomad ChecklistWeek 20

Determine who you will use to run credit and background checks on your tenants and tenant-buyers.

Mark this task as done when you determine who you'll use.

Dream TeamDream Team - Post-ClosingTenant ScreeningUltimate Nomad ChecklistWeek 43

Complete the "Property Maintenance" checklists:

https://RealEstateFinancialPlanner.com/property-maintenance/

Post-ClosingProperty MaintenanceUltimate Nomad ChecklistWeek 44

If you have a concrete driveway, it is recommended that you seal concrete driveways every two years.

Property MaintenanceUltimate Nomad ChecklistWeek 56

Test the GFI receptacle/breaker, monthly.

Property MaintenanceUltimate Nomad ChecklistWindows/Doors Maintenance

Complete the "Alarms Maintenance" checklist:

https://RealEstateFinancialPlanner.com/alarms-maintenance/

Alarms MaintenanceProperty MaintenanceUltimate Nomad Checklist

Twice a year replace the batteries in your smoke and CO detectors.

Alarms MaintenanceUltimate Nomad Checklist

Clean and test smoke alarms monthly.

Alarms MaintenanceUltimate Nomad Checklist

Review safe fireplace operations every fall.

Alarms MaintenanceUltimate Nomad Checklist

Complete the "Appliance Maintenance" checklist:

https://RealEstateFinancialPlanner.com/appliance-maintenance/

Appliance MaintenanceProperty MaintenanceUltimate Nomad Checklist

Complete the "Windows/Doors Maintenance" checklist:

https://RealEstateFinancialPlanner.com/windows-doors-maintenance/

Property MaintenanceUltimate Nomad ChecklistWindows/Doors Maintenance

Clean all windows inside and out.

Clean all weep-holes on window frames.

Do this every 6 months.

Ultimate Nomad ChecklistWindows/Doors Maintenance

Adjust exterior door thresholds and apply lemon oil to wood.

Complete every 3 months.

Ultimate Nomad ChecklistWindows/Doors Maintenance

Clean window tracks and use silicone spray to aid in ease of operation.

Complete every 6 months.

Ultimate Nomad ChecklistWindows/Doors Maintenance

Oil all moving parts on garage doors and tracks.

Complete every 3 months.

Ultimate Nomad ChecklistWindows/Doors Maintenance

Complete the "Caulking/Paint Maintenance" checklist:

https://RealEstateFinancialPlanner.com/caulk-paint-maintenance/

Caulking Paint MaintenanceProperty MaintenanceUltimate Nomad Checklist

Complete the "Heating Cooling Maintenance" checklist:

https://RealEstateFinancialPlanner.com/heating-and-cooling-system-maintenance/

Heating Cooling MaintenanceProperty MaintenanceUltimate Nomad Checklist

Replace the return air filters every month.

Heating Cooling MaintenanceUltimate Nomad Checklist

Have a professional inspect the air conditioning and heating system once a year.

Heating Cooling MaintenanceUltimate Nomad Checklist

Adjust airflow at registers (floor or ceiling vents) to balance room temperatures.

Heating Cooling MaintenanceUltimate Nomad Checklist

Complete the "Plumbing Maintenance" checklist:

https://RealEstateFinancialPlanner.com/plumbing-maintenance/

Plumbing MaintenanceProperty MaintenanceUltimate Nomad Checklist

Complete the "Landscaping Maintenance" checklist:

https://RealEstateFinancialPlanner.com/landscaping-maintenance/

Landscaping MaintenanceProperty MaintenanceUltimate Nomad Checklist

Complete the "Exterior Maintenance" checklist:

https://RealEstateFinancialPlanner.com/exterior-maintenance/

Exterior MaintenanceProperty MaintenanceUltimate Nomad Checklist

Wash windows and screens, clean weep holes and lubricate tracks.

Do this every fall and spring.

Exterior MaintenanceUltimate Nomad Checklist

Check exterior paint and stain surfaces, especially stained doors, and refinish as needed.

Do this every spring.

Exterior MaintenanceUltimate Nomad Checklist

Check and operate air conditioning system.

Make sure the air conditioner compressor is level and clear of debris.

Do this every spring.

Exterior MaintenanceUltimate Nomad Checklist

Complete the "Winterize Your Home" checklist:

https://RealEstateFinancialPlanner.com/winterize-your-home/

Property MaintenanceUltimate Nomad ChecklistWinterize Your Home

Have your furnace tuned up every fall. Regular maintenance can prolong its life and alert you to any potential issues. Have it cleaned, lubricated, and adjusted before each heating season.

Often utility companies or furnace manufacturers will offer free or discounted inspections. However, these needed to be booked in advance as the slots fill quickly.

Heating Cooling MaintenanceUltimate Nomad ChecklistWinterize Your Home

Change the furnace filters once a month during heating season.

Dirty filters restrict airflow and make your heating system less efficient.

Heating Cooling MaintenanceUltimate Nomad ChecklistWinterize Your Home

Check exterior caulking and seals and touch up as needed.

Do this every fall.

Exterior MaintenanceUltimate Nomad ChecklistWinterize Your Home

Check weather stripping on exterior doors. Replace as needed.

Do this every fall.

Exterior MaintenanceUltimate Nomad ChecklistWinterize Your Home

Ideally this is accomplished with proper weather stripping around windows and doors and door sweeps for all exterior doors.

In a pinch you can also use a rolled towel or draft snake under a drafty door.

Exterior MaintenanceUltimate Nomad ChecklistWinterize Your Home

Animal nests or creosote buildup in your fireplace can be hazardous. Have an annual inspection before building your first fire of the season.

Ultimate Nomad ChecklistWinterize Your Home

Blow out sprinkler system in the fall.

Landscaping MaintenanceUltimate Nomad ChecklistWinterize Your Home

Check all sprinkler clocks monthly.

Landscaping MaintenanceUltimate Nomad Checklist

Keep clear and maintain all drainage swales to ensure proper flow to front of house or other designated areas.

Verify every 6 months.

Landscaping MaintenanceUltimate Nomad Checklist

Limit irrigation near homes and block walls. Check recommendations in soils report.

Verify once a year.

Landscaping MaintenanceUltimate Nomad Checklist

Remove hoses from exterior faucets.

Even "freeze-proof" faucets can end up with a broken water line if water in the hose freezes and expands into the pipe.

Do this every fall.

Landscaping MaintenanceUltimate Nomad ChecklistWinterize Your Home

Switch ceiling fans to rotate clockwise during the winter months.

This will circulate any warm air pooled near the ceiling back down into the living space.

Ultimate Nomad ChecklistWinterize Your Home

Add more insulation between walls and make sure the attic floor and basement ceiling are well insulated.

Ultimate Nomad ChecklistWinterize Your Home

Install foam electrical outlet and wall plate insulating kits. These are easily found at Lowes or Home Depot and help reduce heat loss.

Ultimate Nomad ChecklistWinterize Your Home

Start/adjust sprinkler system and test exterior faucets for broken pipes.

Do this every spring.

Landscaping MaintenanceUltimate Nomad Checklist

Examine caulking around showers and bath tubs and grout between tiles.

If you notice any cracks or holes have the caulking or grout replaced.

Do this every quarter.

Caulking Paint MaintenanceUltimate Nomad Checklist

Verify the main water shut off valve is accessible and functioning properly.

Complete once a year.

Plumbing MaintenanceUltimate Nomad Checklist

Check that all water pipes are properly insulated. Pipes running through exterior walls and uninsulated attics and crawlspaces may be at risk of freezing in winter months. Foam pipe sleeves come pre-slit and can easily be wrapped around unprotected pipes and sealed with tape.

In addition, wrapping hot water pipes will save energy which in turn saves you money.

Plumbing MaintenanceUltimate Nomad ChecklistWinterize Your Home

Clean aerators on all sink fixtures once a year.

Plumbing MaintenanceUltimate Nomad Checklist

Drain and flush the water heater once a year. This will remove sediment that can build up and reduce the efficiency of the heater or clog the drain valve. Verify the pressure relief valve is working.

You can do this yourself or hire someone.

Plumbing MaintenanceUltimate Nomad Checklist

If the water heater is leaking complete the "Leaking Water Heater" checklist:

https://RealEstateFinancialPlanner.com/leaking-water-heater/

Leaking Water HeaterPlumbing MaintenanceProperty MaintenanceUltimate Nomad Checklist

Examine caulking between counter-tops and walls and on laminate seams.

If you notice any cracks or holes have the caulking replaced.

Do this every quarter.

Caulking Paint MaintenanceUltimate Nomad Checklist

Paint all fascias, eves, and wood trim around the exterior of the home.

Do this once a year.

Caulking Paint MaintenanceUltimate Nomad Checklist

Inspect all exterior caulk seals to verify they are intact.

Do this every 6 months.

Caulking Paint MaintenanceUltimate Nomad Checklist

Inspect rails, posts, pickets, etc on any external fences.

Do this every 6 months.

Caulking Paint MaintenanceUltimate Nomad Checklist

Caulk control joints in garage floor and driveway.

Do this every 6 months.

Caulking Paint MaintenanceUltimate Nomad Checklist

Inspect exterior paint and caulk on your home and recaulk and repaint as needed.

Inspect every 6 months.

Caulking Paint MaintenanceUltimate Nomad Checklist

If your home has stucco, inspect the window and door joints.

Inspect every 6 months.

Caulking Paint MaintenanceUltimate Nomad Checklist

Tighten all nuts and bolts in garage doors and tracks.

Complete every 12 months.

Ultimate Nomad ChecklistWindows/Doors Maintenance

Clean the range hood filter as needed. Check it every 3 months.

Appliance MaintenanceUltimate Nomad Checklist

Check the hoses and connections for the washing machine. Look for cracks, drips, dryrot, etc.

Do this every 6 months.

Appliance MaintenanceUltimate Nomad Checklist

Check the dryer exhaust vent system. Connections, blockages, etc.

Do this every 6 months.

Appliance MaintenanceUltimate Nomad Checklist

Determine the location of the leak.

Look at the drain valve at the bottom of the tank. If this is leaking call a plumber to replace the faulty drain valve.

If the leak is coming from the tank you will need to replace the water heater.

Leaking Water HeaterUltimate Nomad Checklist

Turn off the water heater.

For electric water heaters, find the water heater’s circuit breaker and flip it to “off.”

For gas water heaters, look on your water heater for an on/off switch or dial. Turn it to “off.”

Leaking Water HeaterUltimate Nomad Checklist

Turn off the cold water supply. Look for a lever or dial above your water heater.

Leaking Water HeaterUltimate Nomad Checklist

Call a plumber for help.

They may offer a free inspection and quote for the repairs and/or replacement.

Leaking Water HeaterUltimate Nomad Checklist

Complete the "Post-Closing Bookkeeping and Accounting" checklist:

https://RealEstateFinancialPlanner.com/post-closing-bookkeeping-and-accounting/

AccountingBookkeepingBookkeeping and Accounting for NomadsPost-ClosingPost-Closing Bookkeeping and AccountingUltimate Nomad ChecklistWeek 44

Watch the recording of the live presentation of "Bookkeeping and Accounting for Nomads" available on:

https://RealEstateFinancialPlanner.com/bookkeeping-and-accounting-for-nomads/

AccountingBookkeepingBookkeeping and Accounting for NomadsClassesPost-Closing Bookkeeping and AccountingUltimate Nomad ChecklistWeek 52

If you've decided to download and use Brian's Bookkeeping and Accounting Spreadsheet to keep track of your income and expenses on your rental and Nomad properties, you can download a copy of it here:

https://realestatefinancialplanner.com/real-estate-bookkeeping/

If you're not going to use Brian's accounting spreadsheet, you can skip this step and mark it as complete.

AccountingBookkeepingBookkeeping and Accounting for NomadsPost-Closing Bookkeeping and AccountingUltimate Nomad ChecklistWeek 18

You should setup your bookkeeping system for your rental property. There are several options to choose from including just hiring a bookkeeper/accountant to do it for you to using the tools we provide.

Of course, you could keep track of your income and expenses in software like QuickBooks and have your accountant prepare taxes at the end of the year. There are also property management software packages that allow you to do bookkeeping and accounting as well.

If you don't have a strong preference, we recommend you setup either Brian's bookkeeping and accounting spreadsheet or use web-based version on RealEstateFinancialPlanner.com to start tracking income and expenses for property.

Mark complete once you've set up bookkeeping and accounting for this property.

AccountingBookkeepingBookkeeping and Accounting for NomadsPost-Closing Bookkeeping and AccountingUltimate Nomad ChecklistWeek 18

Each month enter the income and expenses for the property and your LLCs.

The longer you delay doing this the more painful it becomes especially as you forget what expenses were for and why.

It is much easier to do it either: as you receive them or, at least, once a month.

AccountingBookkeepingBookkeeping and Accounting for NomadsPost-Closing Bookkeeping and AccountingUltimate Nomad ChecklistWeek 18

Each time you receive income, log it in your accounting system.

AccountingBookkeepingBookkeeping and Accounting for NomadsPost-Closing Bookkeeping and AccountingUltimate Nomad ChecklistWeek 18

Each time you spend money or have an expense, log it in your accounting system.

AccountingBookkeepingBookkeeping and Accounting for NomadsPost-Closing Bookkeeping and AccountingUltimate Nomad ChecklistWeek 18

Send your Accountant your income and expenses for the year to prepare your tax returns.

Mark complete once you've sent your Accountant income and expenses from either Brian's Spreadsheet or the web-based version.

AccountingBookkeepingBookkeeping and Accounting for NomadsPost-Closing Bookkeeping and AccountingUltimate Nomad ChecklistWeek 53

File your tax returns for the year.

Mark this task as complete once you've filed for the year.

AccountingBookkeepingBookkeeping and Accounting for NomadsPost-Closing Bookkeeping and AccountingUltimate Nomad ChecklistWeek 65

Review the tax return from your Accountant. Ask questions if you have them.

Once your tax return is approved, mark this task as complete.

AccountingBookkeepingBookkeeping and Accounting for NomadsPost-Closing Bookkeeping and AccountingUltimate Nomad ChecklistWeek 64

Complete the "Maintain Your LLC" checklist:

https://RealEstateFinancialPlanner.com/maintain-your-llc/

Maintain Your LLCPost-ClosingUltimate Nomad ChecklistWeek 44

Schedule and give your partners notice you have an upcoming annual partnership meeting.

Mark done once you've given partners notice.

Maintain Your LLCPartnershipsUltimate Nomad ChecklistWeek 52

Hold your annual meeting for Partners.

Mark complete once you've held your annual meeting for Partners.

Maintain Your LLCPartnershipsUltimate Nomad ChecklistWeek 53

Review your LLC Operating Agreement to make sure everything is up to date and relevant.

Maintain Your LLCPartnershipsUltimate Nomad ChecklistWeek 53

If you're operating your partnership as an LLC, create meeting minutes for your annual meeting with your partners.

Mark this task complete when done creating your meeting minutes.

Maintain Your LLCPartnershipsUltimate Nomad ChecklistWeek 54

Once a year you must complete a "Periodic Report" with the Secretary of State.

If you subscribed your email to the Secretary of State for your LLC's record, you should receive an email notice. Otherwise, you should receive a postcard.

As soon as you receive it, just do it. It takes 2 minutes if you do it right away.

If you delay, not only could you invalidate your asset protection plan, but there are late fees from the Secretary of State.

Maintain Your LLCUltimate Nomad ChecklistWeek 54

If you have a Partnership, then once you have reviewed your tax return from your Accountant share it with your Partners.

Once you've shared it with your Partners, mark this task as complete.

AccountingBookkeepingBookkeeping and Accounting for NomadsMaintain Your LLCPartnershipsUltimate Nomad ChecklistWeek 64

Complete the "Prepare to be a Landlord" checklist:

https://RealEstateFinancialPlanner.com/prepare-to-be-a-landlord/

Post-ClosingPrepare to be a LandlordUltimate Nomad ChecklistWeek 44

If you have not already done so, determine who you will use to run credit and background checks on your Tenants and Tenant-Buyers.

Mark this task as done when you determine who you'll use.

Dream TeamDream Team - Post-ClosingPrepare to be a LandlordTenant ScreeningUltimate Nomad ChecklistWeek 43

Take some time to research the landlord-tenant laws for your city, county, and your state.

Mark this task as done when complete.

Dream TeamDream Team - Post-ClosingPrepare to be a LandlordTenant ScreeningUltimate Nomad ChecklistWeek 43

Review the rules and regulations regarding service animals. Use the following links as a starting point.

HUD guidelines regarding Service Animals

https://www.hud.gov/sites/documents/SERVANIMALS_NTCFHEO2013-01.PDF/

Article published by a Colorado based law firm on this

https://frascona.com/landlords-guide-to-handling-tenants-request-for-assistance-animals/

Consult your attorney when making any decisions or policies regarding the accommodation of persons with service animals as the laws may have been modified or changed.

PaperworkPrepare to be a LandlordRental ApplicationTenant ScreeningUltimate Nomad ChecklistWeek 48

Review Fair Housing Act before writing your ad to make sure you do not violate any laws.

https://www.hud.gov/fairhousing

Be sure to check for any updates or modifications to this act.

Advertise Property for RentMarketingPrepare to be a LandlordTenant ScreeningUltimate Nomad ChecklistWeek 43

Make sure you feel comfortable with the cash reserves you have for your rental property.

Most CPAs will recommend you have between 6 months and 12 months of your mortgage payment, taxes, insurance and maintenance reserves for your property.

If you do not have this amount saved for your property, make it a goal to work on building up your account to have that for each rental property you have.

Mark this task as done when complete.

Dream TeamDream Team - Post-ClosingPrepare to be a LandlordTenant ScreeningUltimate Nomad ChecklistWeek 43

Find your local landlord group and attend meetings to stay abreast of the rental market and network with other landlords.

Mark this task as done when complete.

Dream TeamDream Team - Post-ClosingPrepare to be a LandlordTenant ScreeningUltimate Nomad ChecklistWeek 43

Write out your own process for screening and approving tenants.

Plan ahead by considering all possible what-if scenarios you can think of and what you'd do in each situation before it happens. Write this out.

Mark this task complete when you have your process written out.

Prepare to be a LandlordTenant ScreeningTenantsUltimate Nomad ChecklistWeek 43

If you're offering the property to a Tenant-Buyer on a Lease Option, write out your own process for screening and approving Tenant-Buyers.

Plan ahead by considering all possible what-if scenarios you can think of and what you'd do in each situation before it happens. Write this out.

Mark this task complete when you have your process written out.

Prepare to be a LandlordTenant ScreeningTenant-BuyersUltimate Nomad ChecklistWeek 43

Get or create your own "Rental Application" to be used when tenants and/or tenant-buyers apply to rent your properties.

Use the Nomad "Rental Application" as a starting point:

https://RealEstateFinancialPlanner.com/rental-application/

Mark this task complete when you have your own "Rental Application".

PaperworkPrepare to be a Landlord