Buyers Countdown to Closing

Offer to Purchase and Contract/Effective Date - signed by all parties

  • Apply for Financing (Lender will arrange Appraisal)

Due Diligence Period

  • Schedule Home Inspection (Schedule water and septic if private systems)
  • Select Closing Attorney and schedule Closing Date
  • Inspections to be completed during Due Diligence Period:
    • Home inspection
    • Structural
    • Radon
    • Pest
    • Survey
    • Title search
    • Appraisal
  • Buyers and Sellers negotiate repairs (through Brokers)
  • Set up Homeowners’ Insurance for new property (make sure property is insurable during the Due Diligence Period)
  • Pest Inspection (Buyer attendance optional)         

Prior to Closing

  • Possibility of renegotiating terms of at the end of the Due Diligence Period
  • If additional earnest money is part of the terms of the contract, such fund must be cash or bank certified check
  • Buyer sets up Utilities, transfer on Closing Day         
  • Walk through Inspection by Buyers & Broker to confirm that repairs are completed

Between Due Diligence Period and Closing

  • Review draft of HUD-1 or Settlement Statement for accuracy.
  • CLOSING at Attorney’s Office, Buyer(s) usually present to review and sign documents. 
  • Provide Bank Certified Check for amount due!