Immediately After

During: Buying Process Overview: Closing: Immediately After

Closing

The following is a visual representation of the Immediately After process when buying homes as a Nomad. It is part of the Closing process that you’d use for closing on a property.

closing-immediately-after

Closing: Immediately After

Let’s look at each step in more detail.

  1. Consider switching as many accounts as possible to electronic statments
    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

  2. Consider getting a PO Box or private mailbox
    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

  3. Get new mailbox key from United States Post Office
    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

  4. Forward all mail at United States Post Office
    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

  5. Update address with your Debit/Credit Cards
    Contact each of your Debit/Credit Card companies and update your address with each one of them.

    Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

  6. Update address with your other mortgages
    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

  7. Update address with all Utilities
    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

  8. Update address with Insurance Companies
    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

  9. Update address with Banks and Credit Unions
    Update your address with all the places you bank including Banks and Credit Unions.

    Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

  10. Update your address with all Home Owner's Associations (HOAs)
    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

  11. Update address with your employer
    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

  12. Update address with your Health/Dental Insurance Provider
    Contact each of your Health/Dental Insurance Providers and update your address with each one of them.

    Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13

  13. Update your address and contact info with County
    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

  14. Update address with your IRA/401K/Investment/Retirement Account Companies
    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

  15. Update address with your subscriptions
    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

  16. Notify Friends and Family of your new address and contact info
    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

  17. Change address with your Tenants and Tenant-Buyers
    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

  18. Read "Closing: Immediately After"
  19. Change locks
    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

  20. Buy fire extinguisher for kitchen under sink
    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

  21. Take Photos
    Have professional photographs taken of your new property just after Closing while it is still vacant by your Photographer.

    You will use these when you market the property for rent and you'll be able to take photos without your personal stuff showing.

    Mark this task complete when photos are taken.

    Closing: Immediately AfterUltimate Nomad ChecklistWeek 13

  22. IF MOSS ON ROOF: Clean Moss Off Roof
    If you live in an area that has high moisture and there is moss on the roof when you purchase the property, you may want to proactively remove the moss from the roof when you purchase.

    Hire a professional to complete this work.

    Closing: Immediately AfterUltimate Nomad ChecklistWeek 13

Files

You’ll need copies of your closing documents for your taxes.



Mailbox Keys


Reminder About Possession

Most lenders require that if you’re getting an owner occupant loan, that you must move into the property within 60 days of closing.

Notify Tenants

If there are tenants in the property when you purchase, complete these additional steps.

Notify Neighbors

Whether you are renting the property or moving in, it is always a good idea to introduce yourself to the neighbors. Give them your contact info and encourage them to contact you if they notice anything going on with the property or if there is an emergency.

Next: After

See the After process next.

IMPORTANT NOTE: This checklist is based on what I personally use with clients in Northern Colorado and is based on the Colorado Real Estate Commission approved Contract to Buy and Sell Real Estate. Please rely on your local real estate agent for how it works in your local real estate market. This process will definitely vary in different States.

Improvements

In the future, I will be adding/updating/modifying the following:

  • I am working on coverting the static list on this page to be part of the Ultimate Nomad Checklist and Dynamic Checklist system.

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