Buyer's Pre-Closing Checklist from Professional One Real Estate


		Northville Michigan Real Estate - Novi, Plymouth, Canton Real Estate

	Plymouth, Michigan

Buyer's Pre-Closing Checklist

If you're like most people, the period just before closing on a home purchase is extremely hectic: scheduling a mover, packing countless boxes, calling for new utilities, obtaining a new phone number, notifying people of your move, etc. Few other situations in life afford more opportunity for confusion and mistakes. Professional One put together this checklist for you to review prior to your closing, just to make sure you haven't forgotten anything. We hope this helps get you through this traumatic time.

Item	Description
Homeowner's insurance	Contact your lender to obtain details as to what is required. Typically, you will be required to bring an original homeowner's insurance policy to closing, along with an original paid receipt. Try to take care of this at least a few days prior to closing.
Mortgage closing costs	Contact your lender to obtain this information. This represents the closing costs specific to your lender. Contact your lender several days prior to closing to obtain this amount; that way, if you have any questions or issues, you will have time to resolve them prior to the closing.
Other closing costs	Contact your realtor to obtain this information. This represents all of your costs OTHER than your mortgage costs. These costs are detailed in the closing documents (see next item). Conceptually, this amount is calculated as follows: (Sales price + tax prorations + association dues prorations) - (deposit + mortgage amount) = Other closing costs.
Closing documents	These are the documents prepared by the title company that you will sign at the closing. Contact your agent a week or so prior to closing to request these documents. Understand that the listing agent selects the title company, so your agent may have little control over when these are made available (some agents are very conscientious and have these disseminated a week or more before closing; other agents don't concern themselves with this at all). Try to obtain these at least a day or two before closing so that you can follow up on any questions you may have prior to the closing, as opposed to at the closing itself. Obtaining and reviewing this information in advance will help to make the closing a smooth and efficient process.
Cashier's check(s)	You will need to bring a cashier's check (or two cashier's checks) to the closing. The total of this check is calculated as: mortgage closing costs (as per above) + other closing costs (as per above). You can bring one check covering the total of these two amounts, or you can bring two separate checks, one for the total of the mortgage closing costs, and one for the total of the other closing costs. Most title companies prefer that you make the checks payable to yourselves (and you then endorse the checks over to the title company at closing). If the total of your check(s) is greater than the amount actually needed, the title company will write a check back to you for the amount of the overage. If the total of your check(s) is less than the amount actually needed, you will likely have a problem, as most title companies will not accept personal checks.
Utilities	Call the utilities companies a business day or two prior to closing to transfer the service into your name. Phone numbers of the utilities are as follows: DTE (Electricity) (800) 477-4747 Consumer's Energy (Gas) (800) 477-5050 SBC (Local phone) (800) 244-4444 AT&T (Long distance option) (800) 362-9689 MCI Worldcom (Long distance option) (800) 950-5555 Sprint (Long distance option) (800) 877-7746 A great resource for locating everything in your new neighborhood from utilities, banking, lawn care, even movie rentals can be found HERE.
Driver's license	Self-explanatory

Download a printable version of the Pre-Closing Checklist in Adobe pdf format.

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