The Before checklist are the things that Nomad should do prior to buying a property.
It is part of the three major checklists that we have:
We have a similar set of Before, During and After checklists for the things that real estate agents working with Nomads should use.
During
The following are my recommendations for tasks that Nomad should complete while purchasing your Nomad properties.
Buying Process Overview
The following is a flowchart outlining the major steps in our Buying Process Overview.
- Complete "Buying Process Overview" checklist
Complete the "Buying Process Overview" checklist:
https://RealEstateFinancialPlanner.com/buying-process-overview/
Before ChecklistsBuying Process OverviewDuring ChecklistsOptionalUltimate Nomad ChecklistWeek 1
- Class Watch "Get Your First Deal Done" Recording of Live Class
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
- Class Watch "Buying Process Overview for Nomads" Recording of Live Class
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"
Read "Benefits of Becoming a Client" blog post on:
https://RealEstateFinancialPlanner.com/benefits-of-becoming-a-client/
ASAPBuying Process OverviewOptionalUltimate Nomad ChecklistWeek 1
- Determine your Real Estate Broker
Meet with James for lunch to discuss working with him. You can request a meeting by scheduling an appointment on his calendar:
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 "First Meeting" checklist
Complete the "First Meeting" checklist:
https://RealEstateFinancialPlanner.com/first-meeting/
Buying Process OverviewFirst MeetingOptionalUltimate Nomad ChecklistWeek 1
- Complete "Pre-Showings" checklist
Complete the "Pre-Showings" checklist:
https://RealEstateFinancialPlanner.com/pre-showings/
Buying Process OverviewDuring ChecklistsPre-ShowingsUltimate Nomad ChecklistWeek 2
- Complete "Showings" checklist
Complete the "Showings" checklist:
https://RealEstateFinancialPlanner.com/showings/
Buying Process OverviewDuring ChecklistsShowingsUltimate Nomad ChecklistWeek 3
- Complete "Writing Offer" checklist
Complete the "Writing Offer" checklist:
https://RealEstateFinancialPlanner.com/writing-offer/
Buying Process OverviewDuring ChecklistsUltimate Nomad ChecklistWeek 3Writing Offer
- Complete "Contract To Close" checklist
Complete the "Contract To Close" checklist:
https://RealEstateFinancialPlanner.com/contract-to-close/
Buying Process OverviewContract To CloseDuring ChecklistsUltimate Nomad ChecklistWeek 8
- Complete "Closing" checklist
Complete the "Closing" checklist:
https://RealEstateFinancialPlanner.com/closing/
Buying Process OverviewClosingDuring ChecklistsUltimate Nomad ChecklistWeek 12
- Complete "Post-Closing" checklist
Complete the "Post-Closing" checklist:
https://RealEstateFinancialPlanner.com/post-closing/
After ChecklistsBuying Process OverviewPost-ClosingUltimate Nomad ChecklistWeek 13
Buying Process Overview:
First Meeting
I consider the First Meeting with your real estate agent stage part of the Before checklist. Please use the Before checklist if you haven’t already to make sure you’ve adequately covered those stages.
- Complete "First Meeting" checklist
Complete the "First Meeting" checklist:
https://RealEstateFinancialPlanner.com/first-meeting/
Buying Process OverviewFirst MeetingOptionalUltimate Nomad ChecklistWeek 1
- Receive a copy of the original "Nomad" book
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.
- Receive a copy of "Northern Colorado Real Estate Advisor" book
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.
- Get Premium Nomad access on RealEstateFinancialPlanner.com
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.
- Complete "First Meeting: Paperwork" checklist
Complete the "First Meeting: Paperwork" checklist:
https://RealEstateFinancialPlanner.com/paperwork/
ASAPFirst MeetingFirst Meeting: PaperworkUltimate Nomad ChecklistWeek 1
- Complete "First Meeting: Professional Services Provided" checklist
Complete the "First Meeting: Professional Services Provided" checklist:
https://RealEstateFinancialPlanner.com/professional-services-provided/
ASAPFirst MeetingFirst Meeting: Professional Services ProvidedUltimate Nomad ChecklistWeek 1
- Complete "First Meeting: Your Real Estate Goals" checklist
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
- Complete "First Meeting: Financing" checklist
Complete the "First Meeting: Financing" checklist:
https://RealEstateFinancialPlanner.com/financing/
ASAPFinancingFirst MeetingFirst Meeting: FinancingUltimate Nomad ChecklistWeek 1
- Complete "First Meeting: Receive Property Lists" checklist
Complete the "First Meeting: Receive Property Lists" checklist:
https://RealEstateFinancialPlanner.com/receive-property-lists/
ASAPFirst MeetingFirst Meeting: Receive Property ListsProperty SearchUltimate Nomad ChecklistWeek 1
- Complete "First Meeting: Analyze Deals" checklist
Complete the "First Meeting: Analyze Deals" checklist:
https://RealEstateFinancialPlanner.com/analyze-deals/
Analyzing DealsASAPFirst MeetingFirst Meeting: Analyze DealUltimate Nomad ChecklistWeek 1
- Complete "First Meeting: Write Offer" checklist
Complete the "First Meeting: Write Offer" checklist:
https://RealEstateFinancialPlanner.com/write-offer/
ASAPFirst MeetingFirst Meeting: Write OfferMaking OffersUltimate Nomad ChecklistWeek 1
Buying Process Overview:
Pre-Showings
The Pre-Showings checklist consists of the following steps.
- Complete "Pre-Showings" checklist
Complete the "Pre-Showings" checklist:
https://RealEstateFinancialPlanner.com/pre-showings/
Buying Process OverviewDuring ChecklistsPre-ShowingsUltimate Nomad ChecklistWeek 2
- Class Watch "Looking at Houses" Recording of Live Class
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 "Pre-Showings: Qualify with Lender" checklist
Complete the "Pre-Showings: Qualify with Lender" checklist:
https://RealEstateFinancialPlanner.com/qualify-with-lender/
ASAPFinancingPre-ShowingsPre-Showings: Qualify with LenderUltimate Nomad ChecklistWeek 2
- Complete "Pre-Showings: Pre-approval Letter" checklist
Complete the "Pre-Showings: Pre-approval Letter" checklist:
https://RealEstateFinancialPlanner.com/pre-approval-letter/
ASAPFinancingPre-ShowingsPre-Showings: Pre-approval LetterUltimate Nomad ChecklistWeek 2
- Complete "Pre-Showings: Earnest Money" checklist
Complete the "Pre-Showings: Earnest Money" checklist:
https://RealEstateFinancialPlanner.com/earnest-money/
ASAPEarnest MoneyFinancingPre-ShowingsPre-Showings: Earnest MoneyUltimate Nomad ChecklistWeek 2
- Complete "Pre-Showings: Down Payment" checklist
Complete the "Pre-Showings: Down Payment" checklist:
https://RealEstateFinancialPlanner.com/down-payment/
ASAPDown PaymentPre-ShowingsPre-Showings: Down PaymentUltimate Nomad ChecklistWeek 2
- Complete "Pre-Showings: Mock Contract" checklist
Complete the "Pre-Showings: Mock Contract" checklist:
https://RealEstateFinancialPlanner.com/mock-contract/
ASAPPaperworkPre-ShowingsPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2
- Review "Looking at Houses" Recording of Live Class
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 tips for Showings with your Real Estate Broker
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
- IF CONSIDERING MAKING AN OFFER: Consider the following and discuss with your Real Estate Broker
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
Buying Process Overview: Pre-Showings:
Qualify with Lender
- Complete "Pre-Showings: Qualify with Lender" checklist
Complete the "Pre-Showings: Qualify with Lender" checklist:
https://RealEstateFinancialPlanner.com/qualify-with-lender/
ASAPFinancingPre-ShowingsPre-Showings: Qualify with LenderUltimate Nomad ChecklistWeek 2
- Ask Real Estate Broker for list of possible Lenders
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
- Interview 3 Lenders
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
- Determine your Lender
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
- Apply for loan with Lender
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 need
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 down payment amount you'll likely get
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 OWNER OCCUPANT: Find out your estimated monthly payments
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
Buying Process Overview: Pre-Showings:
Pre-Approval Letter
- Complete "Pre-Showings: Pre-approval Letter" checklist
Complete the "Pre-Showings: Pre-approval Letter" checklist:
https://RealEstateFinancialPlanner.com/pre-approval-letter/
ASAPFinancingPre-ShowingsPre-Showings: Pre-approval LetterUltimate Nomad ChecklistWeek 2
- Get max "Lender Letter"
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 max "Lender Letter" to your Dropbox
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 max "Lender Letter" to Real Estate Broker
Send a copy of your max "Lender Letter" to your Real Estate Broker.
ASAPFinancingPre-Showings: Pre-approval LetterUltimate Nomad ChecklistWeek 2Week 54
Buying Process Overview: Pre-Showings:
Earnest Money
- Complete "Pre-Showings: Earnest Money" checklist
Complete the "Pre-Showings: Earnest Money" checklist:
https://RealEstateFinancialPlanner.com/earnest-money/
ASAPEarnest MoneyFinancingPre-ShowingsPre-Showings: Earnest MoneyUltimate Nomad ChecklistWeek 2
- Discuss typical amount of Earnest Money with Real Estate Broker
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
- Determine the source of your Earnest Money
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
To learn more about Earnest Money, consider checking out The Ultimate Guide to Earnest Money.
Buying Process Overview: Pre-Showings:
Down Payment
- Complete "Pre-Showings: Down Payment" checklist
Complete the "Pre-Showings: Down Payment" checklist:
https://RealEstateFinancialPlanner.com/down-payment/
ASAPDown PaymentPre-ShowingsPre-Showings: Down PaymentUltimate Nomad ChecklistWeek 2
- Class Watch "How to Get Down Payment for Nomad" Recording of Live Class
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
- Determine approximate Down Payment and Closing Costs from Lender
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
- Determine the source of your Down Payment and Closing Costs
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
- Determine your Cash Reserves
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
- Partnership Determine how much Cash Reserves for Partnership
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
- Partnership Transfer money from your Master LLC to your Single Member LLC for Down Payment
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
Buying Process Overview: Pre-Showings:
Mock Contract
- Complete "Pre-Showings: Mock Contract" checklist
Complete the "Pre-Showings: Mock Contract" checklist:
https://RealEstateFinancialPlanner.com/mock-contract/
ASAPPaperworkPre-ShowingsPre-Showings: Mock ContractUltimate Nomad ChecklistWeek 2
- Class Watch "Contract To Buy and Sell in Detail" Recording of Live Class
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
- Determine your Contract and Paperwork Attorney (if you haven't done it already)
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
- Review "Contract to Buy and Sell Real Estate"
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
- Review "Lead-Based Paint Disclosure"
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
- Review "Source of Water Addendum"
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
- Review "Seller's Property Disclosure"
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
- Review "Square Footage Disclosure"
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
- IF FORT COLLINS: Review "Occupancy Limits Disclosure For Property Sale"
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 Real Estate Broker to review the "Contract to Buy and Sell Real Estate" and additional disclosures
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 Contract and Paperwork Attorney to review the "Contract to Buy and Sell Real Estate" and additional disclosures
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
- Determine your Accountant
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 Accountant to review the "Contract to Buy and Sell Real Estate" and additional disclosures
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
Buying Process Overview:
Showings
The Showings checklist consists of the following steps.
- Complete "Showings" checklist
Complete the "Showings" checklist:
https://RealEstateFinancialPlanner.com/showings/
Buying Process OverviewDuring ChecklistsShowingsUltimate Nomad ChecklistWeek 3
- Create property folder on your computer within Dropbox
- Complete "Showings: Request Showing" checklist
Complete the "Showings: Request Showing" checklist:
https://RealEstateFinancialPlanner.com/request-showing/
ShowingsShowings: Request ShowingUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8
- Complete "Showings: Buyer Tour" checklist
Complete the "Showings: Buyer Tour" checklist:
https://RealEstateFinancialPlanner.com/buyer-tour/
ShowingsShowings: Buyer TourUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8
- Complete "Showings: MLS Sheet" checklist
Complete the "Showings: MLS Sheet" checklist:
https://RealEstateFinancialPlanner.com/mls-sheet/
ShowingsShowings: MLS SheetUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8
Buying Process Overview: Showings:
Request Showing
- Complete "Showings: Request Showing" checklist
Complete the "Showings: Request Showing" checklist:
https://RealEstateFinancialPlanner.com/request-showing/
ShowingsShowings: Request ShowingUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8
- Look at properties as they come on the market
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 property before requesting a showing
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 PROPERTY LOOKS INTERESTING: Create property folder in Dropbox
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 PROPERTY LOOKS INTERESTING: Save analysis spreadsheet to your property folder
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
- IF PROPERTY LOOKS INTERESTING: Request rent comps from your Real Estate Broker
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 PROPERTY LOOKS INTERESTING: Email Real Estate Broker to request showing
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
Buying Process Overview: Showings:
Buyer Tour
- Complete "Showings: Buyer Tour" checklist
Complete the "Showings: Buyer Tour" checklist:
https://RealEstateFinancialPlanner.com/buyer-tour/
ShowingsShowings: Buyer TourUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8
- REAL ESTATE BROKER: Sends "Buyer Tour"
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
- Read through "Buyer Tour" from Real Estate Broker
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 "Buyer Tour" to property folder in Dropbox
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
- Print "Buyer Tour" and bring on Showing
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
Buying Process Overview: Showings:
MLS Sheet
- Complete "Showings: MLS Sheet" checklist
Complete the "Showings: MLS Sheet" checklist:
https://RealEstateFinancialPlanner.com/mls-sheet/
ShowingsShowings: MLS SheetUltimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8
- REAL ESTATE BROKER: Send "MLS Sheet"
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
- Read through "MLS Sheet" from Real Estate Broker
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 "MLS Sheet" to property folder on Dropbox
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
- Print "MLS Sheet" and bring to Showing
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
Buying Process Overview: Showings:
Looking at Houses
- Complete "Showings: Looking at Houses" checklist
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 "Looking at Houses" Recording of Live Class
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 tips for Showings with your Real Estate Broker
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
- IF CONSIDERING MAKING AN OFFER: Consider the following and discuss with your Real Estate Broker
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
Buying Process Overview:
Writing Offer
The Writing Offer checklist consists of the following steps.
- Complete "Writing Offer" checklist
Complete the "Writing Offer" checklist:
https://RealEstateFinancialPlanner.com/writing-offer/
Buying Process OverviewDuring ChecklistsUltimate Nomad ChecklistWeek 3Writing Offer
- Complete "Writing Offer: Pre-Offer Due Diligence" checklist
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
- Complete "Writing Offer: Strategize" checklist
Complete the "Writing Offer: Strategize" checklist:
https://RealEstateFinancialPlanner.com/strategize/
Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing OfferWriting Offer: Strategize
- Complete "Writing Offer: Info Required" checklist
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
- Complete "Writing Offer: Draft Offer" checklist
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
- Complete "Writing Offer: Review Offer" checklist
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
- Complete "Writing Offer: Sign Offer" checklist
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
- Complete "Writing Offer: Present Offer" checklist
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
- Complete "Writing Offer: Negotiate Offer" checklist
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
Buying Process Overview: Writing Offer:
Pre-Offer Due Diligence
- Complete "Writing Offer: Pre-Offer Due Diligence" checklist
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
- Verify loan terms with Lender
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
- Verify Earnest Money amount and source
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
- Verify Down Payment amount and source
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
- Do you have your Lender Letter for the offer price?
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
- Have you read the "Seller's Property Disclosure" and any previous "Seller's Property Disclosures"?
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
- Have you read the "MLS Sheet" and any previous "MLS Sheets"?
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 NOMAD OR RENTAL: Have you looked at rental comps?
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 NOMAD OR RENTAL: Have you analyzed the property?
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
- Have you read the "Public Records" history?
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
- Have you looked at the flood zone map?
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
- Have you looked at the listing history?
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
- Have you reviewed HOA documents?
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
- REAL ESTATE BROKER: Call Seller's Real Estate Broker
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
- Discuss home warranty with Real Estate Broker
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
- Discuss lot selection criteria with Real Estate Broker
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
- Discuss upgrades with Real Estate Broker
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
- Discuss change order fee with Real Estate Broker
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
- Discuss radon policy with Real Estate Broker
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
- Discuss builder warranty with Real Estate Broker
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
Buying Process Overview: Writing Offer:
Strategize
- Complete "Writing Offer: Strategize" checklist
Complete the "Writing Offer: Strategize" checklist:
https://RealEstateFinancialPlanner.com/strategize/
Ultimate Nomad ChecklistWeek 3Week 4Week 5Week 6Week 7Week 8Writing OfferWriting Offer: Strategize
- Discuss offer price to make your offer stronger
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
- Discuss appraisal to make your offer stronger
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
- Discuss inspection to make your offer stronger
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
- Discuss due diligence documents to make your offer stronger
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
- Discuss Earnest Money to make your offer stronger
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
- Discuss "Post-Closing Occupancy Agreement" to make your offer stronger
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
- Discuss survey to make your offer stronger
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
- Discuss paying for "Owner's Title Insurance Policy" to make your offer stronger
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
Buying Process Overview: Writing Offer:
Info Required
- Complete "Writing Offer: Info Required" checklist
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 exact Lender Letter as needed when making offers
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
- Determine how you'll take Title to Property
With the help of your Attorney and Accountant, determine how you will take title to the Property you're buying.
Common choices include: severalty (for one person or entity), joint tenants or tenants in common.
You'll need this to make an offer.
Mark this task complete once you know how you'll take Title to the Property.
ASAPUltimate Nomad ChecklistWeek 12Week 4Writing Offer: Info Required
- Provide Real Estate Broker with the info to write your offer
Your Real Estate Broker will need certain information from you to be able to write your offer. Here's a list of some of the information they may need:
- Offer price
- Earnest Money amount (default to what Seller is asking in the MLS)
- Who will pay the Closing Services Fee (usually around $300 to $400 depending on the Title Insurance Company)
- If you're negotiating/insisting on choosing Title Insurance Company, then which Title Insurance Company you want to use.
- Who pays for Appraisal (it is customary for Buyer to pay)
- Who pays for Owner's Title Insurance Policy (it is customary for Seller to pay)
- What Loan type or types are you considering using to finance the purchase?
- How much Down Payment are you going to put down?
- Any Additional Provisions you want added? Common ones might include: additional disclosures for Fort Collins (which we typically add for you by default), limited appraisal language, light or limited inspection language and asking for personal property (which may complicate your ability to get a Loan to cover those).
- How much are you asking for in Seller Concessions?
- Is there a property you must sell before you can buy this?
- Are you offering the Seller a "Post-Closing Occupancy Agreement" to allow them to stay in the property beyond Closing?
- What due diligence documents are you requesting?
- What is your travel/work schedule like? Will it impact inspection? Will it impact Closing?
Mark this task complete once you've emailed your Real Estate Broker the information they need above to write your offer.
ASAPUltimate Nomad ChecklistWeek 12Week 4Writing Offer: Info Required
- IF NEW CONSTRUCTION: Consider the following extras
If you're buying new construction consider that not all properties come with the same upgrades. Ask the following questions and if it is not included, considering adding it when you write your contract. Changes later to the contract often will cost you a change order fee from the builder so it is important to do it at the time of writing your offer.
- Does it include Air Conditioning?
- Does it include window blinds for the entire property? Some builder don't include any. Some include just a few windows.
- Does it include backyard landscaping?
- Does it include a fence?
- Does it include all appliances? Refrigerator? Dishwasher? Stove? Microwave? Clothes washer? Clothes dryer?
- Does it include garage door opener?
ASAPNew ConstructionUltimate Nomad ChecklistWeek 12Week 4Writing Offer: Info Required
- IF NEW CONSTRUCTION: Consider the following for lot selection
If you're buying new construction consider the following factors when selecting a lot to build on:
- Does it face north? North facing lots often have icy front steps.
- Does it get sunlight in the rooms you desire at the times of day you desire? This varies by person, so consider it for yourself.
- Do you want a corner lot? Some people prefer not having another neighbor. Some people prefer not having to shovel two long sidewalks and having people walking on the side of their homes.
- Is there a lot by open space or other desirable feature?
- Is the lot by a busy street?
- Is the lot on a street that most people will need to drive by to access the neighborhood?
ASAPNew ConstructionUltimate Nomad ChecklistWeek 12Week 4Writing Offer: Info Required
Buying Process Overview: Writing Offer:
Draft Offer
- Complete "Writing Offer: Draft Offer" checklist
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
- REAL ESTATE BROKER: Drafts offer and sends you copy
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
- Save copy of draft offer to Dropbox
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
- Review draft of 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
- Ask your Real Estate Broker your questions about 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
- Ask your Contract and Paperwork Attorney your questions about 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
- Ask your CPA your questions about 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
- Ask your Property Manager your questions about 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
- Ask your Insurance Agent your questions about 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
- Approve draft with Real Estate Broker
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
Buying Process Overview: Writing Offer:
Review Offer
- Complete "Writing Offer: Review Offer" checklist
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
- REAL ESTATE BROKER: Entire offer with disclosures sent over via DocuSign
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 entire offer and disclosures in DocuSign
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
Buying Process Overview: Writing Offer:
Sign Offer
- Complete "Writing Offer: Sign Offer" checklist
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 LEASE OPTION BUYING SPECIFIC HOUSE FOR TENANT-BUYER: Get Option Fee before signing contract
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
- Sign your offer in DocuSign
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
- Receive copy of your offer envelope from DocuSign
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
- Save copy of each document in your offer to Dropbox
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
Buying Process Overview: Writing Offer:
Present Offer
- Complete "Writing Offer: Present Offer" checklist
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
- REAL ESTATE BROKER: Your Real Estate Broker will call and present offer to Seller's Real Estate Broker
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
- REAL ESTATE BROKER: Your Real Estate Broker will verify Seller's Real Estate Broker received your 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
Buying Process Overview: Writing Offer:
Negotiate Offer
- Complete "Writing Offer: Negotiate Offer" checklist
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 COUNTERED: Discuss terms of "Counter-Proposal" with Real Estate Broker
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 COUNTERED: Save "Counter-Proposal" to Dropbox
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 COUNTERED OR REJECTED: Work with Real Estate Broker to negotiate new terms
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 REJECTED: Consider submitting a different
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
Buying Process Overview:
Contract To Close
- Complete "Contract To Close" checklist
Complete the "Contract To Close" checklist:
https://RealEstateFinancialPlanner.com/contract-to-close/
Buying Process OverviewContract To CloseDuring ChecklistsUltimate Nomad ChecklistWeek 8
- Class Watch "Contract to Close" Recording of Live Class
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
Complete "Contract To Close: General" checklist:
https://RealEstateFinancialPlanner.com/general/
Contract To CloseContract To Close: GeneralUltimate Nomad ChecklistWeek 13
- Complete "Contract To Close: Title" checklist
Complete the "Contract To Close: Title" checklist:
https://RealEstateFinancialPlanner.com/title/
Contract To CloseContract To Close: TitleUltimate Nomad ChecklistWeek 13
- Complete "Contract To Close: Owner’s Association" checklist
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 "Contract To Close: Seller's Property Disclosure" checklist
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
- Complete "Contract To Close: Loan and Credit" checklist
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 "Contract To Close: Appraisal" checklist
Complete the "Contract To Close: Appraisal" checklist:
https://RealEstateFinancialPlanner.com/appraisal/
Contract To CloseContract To Close: AppraisalUltimate Nomad ChecklistWeek 13
- Complete "Contract To Close: Survey" checklist
Complete the "Contract To Close: Survey" checklist:
https://RealEstateFinancialPlanner.com/survey/
Contract To CloseContract To Close: SurveyUltimate Nomad ChecklistWeek 13
- Complete "Contract To Close: Inspection and Due Diligence" checklist
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
- Complete "Contract To Close: Closing and Possession" checklist
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
Buying Process Overview:
Closing
- Complete "Closing" checklist
Complete the "Closing" checklist:
https://RealEstateFinancialPlanner.com/closing/
Buying Process OverviewClosingDuring ChecklistsUltimate Nomad ChecklistWeek 12
- Class Watch "Closing Real Estate Deals" Recording of Live Class
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"
Read "Closing: Prepare For Closing":
https://RealEstateFinancialPlanner.com/prepare-for-closing/
ClosingClosing: Prepare For ClosingUltimate Nomad ChecklistWeek 12
- Read "Closing: Closing Real Estate"
Read "Closing: Closing Real Estate":
https://RealEstateFinancialPlanner.com/closing-real-estate/
ClosingClosing: Closing Real EstateUltimate Nomad ChecklistWeek 13
- Read "Closing: Closing Financing"
Read "Closing: Closing Financing":
https://RealEstateFinancialPlanner.com/closing-financing/
ClosingClosing: Closing FinancingUltimate Nomad ChecklistWeek 13
- Read "Closing: Immediately After"
Read "Closing: Immediately After":
https://RealEstateFinancialPlanner.com/immediately-after/
ClosingClosing: Immediately AfterUltimate Nomad ChecklistWeek 13
Buying Process Overview:
Post-Closing
- Complete "Post-Closing" checklist
Complete the "Post-Closing" checklist:
https://RealEstateFinancialPlanner.com/post-closing/
After ChecklistsBuying Process OverviewPost-ClosingUltimate Nomad ChecklistWeek 13
- Turn off automatic property search emails
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.
- Complete the "Dream Team - Post-Closing" checklist
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
- Complete the "Property Maintenance" checklist
Complete the "Property Maintenance" checklists:
https://RealEstateFinancialPlanner.com/property-maintenance/
Post-ClosingProperty MaintenanceUltimate Nomad ChecklistWeek 44
- Complete the "Post-Closing Bookkeeping and Accounting" 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
- Complete the "Maintain Your LLC" checklist
Complete the "Maintain Your LLC" checklist:
https://RealEstateFinancialPlanner.com/maintain-your-llc/
Maintain Your LLCPost-ClosingUltimate Nomad ChecklistWeek 44
- Complete the "Prepare to be a Landlord" checklist
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
- Complete the "Prepare Property for Rent" checklist
Complete the "Prepare Property for Rent" checklist:
https://RealEstateFinancialPlanner.com/prepare-property-for-rent/
Buy at Home Improvement StorePost-ClosingPrepare Property for RentUltimate Nomad ChecklistWeek 56
- Complete the "Advertise Property for Rent" checklist
Complete the "Advertise Property for Rent" checklist:
https://RealEstateFinancialPlanner.com/advertise-property-for-rent/
Advertise Property for RentPost-ClosingUltimate Nomad ChecklistWeek 65
- Complete the "Take Calls from Tenants" checklist
Complete the "Take Calls from Tenants" checklist:
https://RealEstateFinancialPlanner.com/take-calls-from-tenants/
Post-ClosingTake Calls from TenantsUltimate Nomad ChecklistWeek 65
- Complete the "Showings to Tenants" checklist
Complete the "Showings to Tenants" checklist:
https://RealEstateFinancialPlanner.com/showings-to-tenants/
Post-ClosingShowings to TenantsUltimate Nomad ChecklistWeek 65
- Complete the "Process Application" checklist
Complete the "Process Application" checklist:
https://RealEstateFinancialPlanner.com/process-application/
Post-ClosingProcess ApplicationUltimate Nomad ChecklistWeek 65
- Complete the "Approve Applicant" checklist
Complete the "Approve Applicant" checklist:
https://RealEstateFinancialPlanner.com/approve-applicant/
Approve ApplicantPost-ClosingUltimate Nomad ChecklistWeek 65
- Complete the "Collect Rent" checklist
Complete the "Collect Rent" checklist:
- Provide Tenant or Tenant-Buyer with receipt for rent collected each month
Each month that you receive rent from your Tenant or Tenant-Buyer, it is considered a best practice to provide the Tenant or Tenant-Buyer with a receipt for the rent that was collected.
Mark complete when done each month.
- Complete the "Collect Reservation Deposit" checklist
Complete the "Collect Reservation Deposit" checklist:
https://RealEstateFinancialPlanner.com/collect-reservation-deposit/
Collect Reservation DepositPost-ClosingUltimate Nomad ChecklistWeek 65
- Complete the "Lease Signing and Lease Review" checklist
Complete the "Lease Signing and Lease Review" checklist:
https://RealEstateFinancialPlanner.com/lease-signing-and-lease-review/
Lease Signing and Lease ReviewPost-ClosingUltimate Nomad ChecklistWeek 65
- Complete the "Document Property Condition" checklist
Complete the "Document Property Condition" checklist:
https://RealEstateFinancialPlanner.com/document-property-condition/
Document Property ConditionPost-ClosingUltimate Nomad ChecklistWeek 65
- Complete the "Pre-Occupancy Reminders to Tenant" checklist
Complete the "Pre-Occupancy Reminders to Tenant" checklist:
https://RealEstateFinancialPlanner.com/pre-occupancy-reminders-to-tenant/
Post-ClosingPre-Occupancy Reminders to TenantUltimate Nomad ChecklistWeek 65
- Complete the "Tenant Move-In" checklist
Complete the "Tenant Move-In" checklist:
- Complete the "Tenant Week 1" checklist
Complete the "Tenant Week 1" checklist:
- Complete the "Tenant Month 1" checklist
Complete the "Tenant Month 1" checklist:
- Complete the "Tenant Periodic Inspections" checklist
Complete the "Tenant Periodic Inspections" checklist:
https://RealEstateFinancialPlanner.com/tenant-periodic-inspections/
Post-ClosingTenant Periodic InspectionsUltimate Nomad ChecklistWeek 65
- Complete the "Tenant Turn-over Preparation" checklist
Complete the "Tenant Turn-over Preparation" checklist:
https://RealEstateFinancialPlanner.com/tenant-turn-over-preparation/
Post-ClosingTenant Turn-over PreparationUltimate Nomad ChecklistWeek 65
- Complete the "Tenant Turn-over" checklist
Complete the "Tenant Turn-over" checklist:
- Complete the "Post-Move-Out" checklist
Complete the "Post-Move-Out" checklist:
- Complete the "Emergency Plan" checklist
Complete the "Emergency Plan" checklist:
- Complete the "Next Property" checklist
Complete the "Next Property" checklist: