Free Real Estate Closing Checklist

Before proceeding with a real estate closing, it is crucial to ensure that all necessary steps have been taken and all critical aspects have been addressed. Use this comprehensive checklist to ensure a smooth and successful closing process:

Property Inspection

• Have you conducted a thorough property inspection?

• Are there any outstanding issues or repairs to address?

Title Search

• Has a title search been performed to identify any outstanding liens or claims on the property?

• Is the title clear of any disputes?

Purchase Agreement

• Does the purchase agreement accurately reflect the terms and conditions agreed upon by both parties?

• Have any necessary amendments or addendums been incorporated?

Financing

• Is the buyer's financing secured and approved?

• Are all financial arrangements in place for the transaction?

Insurance

• Have both buyer and seller obtained the required property insurance?

• Is the insurance coverage sufficient for the property's value?

Closing Costs

• Have all closing costs been calculated and disclosed to both parties?

• Are both parties aware of their financial responsibilities at closing?

Final Walkthrough

• Have both parties conducted a final walkthrough to ensure the property's condition is as expected?

• Are all fixtures, appliances, and agreed-upon items in place?

Funding and Escrow

• Have the necessary funds been deposited into escrow?

• Are the funds sufficient to cover the purchase price and closing costs?

Title Insurance

• Has title insurance been obtained to protect against unforeseen title issues?

• Is the title insurance policy in place and reviewed?

Legal Documentation

• Are all legal documents, including deeds, contracts, and disclosures, prepared and reviewed?

• Have both parties acknowledged and signed all necessary paperwork?

Utilities and Services

• Have arrangements been made for the transfer of utilities and services into the buyer's name?

• Are there any outstanding bills or service contracts to address?

Final Review

• Has a final review of the transaction been conducted by legal counsel?

• Are there any outstanding issues that need to be resolved before closing?

Closing Date and Location

• Is the closing date confirmed and agreed upon by both parties?

• Is the closing location set and communicated to all relevant parties?

By completing this Real Estate Closing Checklist, you can ensure that all necessary steps have been taken and potential issues have been addressed, contributing to a successful and stress-free real estate closing process.

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