Buyer’s To Do Checklist
- Inspections: Home inspections are at your own expense and optional. Types of inspections: Well – Water quality & quantity; Pest (Mandatory if applying for FHA & VA financing); Lead; Mold and possibly others.
- Funds For Closing. If you need to bring cash to the closing, you must bring to closing a bank or certified check PAYABLE TO YOURSELF for the balance of the figure shown on the Closing Disclosure. The closing attorney should provide you with this number at least 24-48 hours prior to closing. Accordingly, if you need to move funds around from investments accounts, etc., do so well in advance of the closing, and be prepared to make a bank run to obtain that bank/certified check!
- Homeowner’s Insurance Binder. At closing, you need a homeowner’s insurance binder showing the first year premium paid. If you are purchasing a condominium unit, you will need to provide us with the Master Insurance Binder, and depending on the type of loan you use, you may need an HO-6 policy covering the interior of your unit. The closing attorney will typically get an insurance binder ordered ahead of time, but this should be on your “to-do” list.
- Utilities: You will need to call all utility companies that service the home to transfer in your name; please find the link to the Massachusetts Helpful Phone Number Listings.
- Your state issued driver’s license with a picture or other picture identification. Some lenders now require a second form of i.d. Your closing attorney will advise you of this.
- If a sale of your present home is required by your new lender, you must bring the Closing Disclosure Settlement Statement and a copy of the Deed from that transaction.
- Your Smile. Yes, bring your smile. It’s a happy day, and despite all the tumult and stress you are finally purchasing your home!
Seller’s To Do Checklist
- Massachusetts or state-issued driver’s license
- Keys to home and alarm codes/information
- Make sure all smoke and carbon detectors meet the current requirements for the local fire department’s inspection. Your house must have the number on the front for the inspection. For most transactions, PSN Realty scheduling the inspection and will have this certificate for closing.
- Signed Deed from you to the buyers. Your attorney should have drafted the Deed.
- Title V Inspection Report for septic system (if applicable)
- Final water/sewer bill paid prior to closing. You will need to schedule a final water and sewer read from the town a few days prior to closing. Please have the town email the paid receipts to us at email@example.com. Some towns require up to two weeks notice to schedule, so don’t wait until the last minute.
- Final oil/propane bill and statement from oil company as to amount remaining in the tank. You will need to make the request at least 2 weeks prior to closing so any adjustment can be provided to the closing attorney. Please email the final receipt to firstname.lastname@example.org.
- 6D certificate for condominiums showing that condo fees are paid up to date.
- It’s also a nice gesture to give the new buyers the name of your landscaper, septic company, private trash hauler, handyman, etc. I’m sure your workmen will appreciate it also.
Before you close, don’t forget to:
- Fill out change of address forms
- Notify utility companies of move out
- Discontinue phone service and cable
- Leave all appliance warranties and instructions in the house (these are usually left in a kitchen drawer so they will be easily found by the new owners)
- Notify insurance agent of closing date in order to cancel present policy
If you are purchasing a new home at the same time, make sure you get a copy of the fully executed closing documents.