Real Estate Closing Checklist

Real Estate Closing Checklist | Bonnie Hicks Realtor

This example of a real estate closing checklist is based on closing a home with a mortgage.  A cash real estate closing would be less involved. The closing processes can vary considerably from state to state.  All of the terms of the purchase agreement must be met prior to closing the deal.  Below you will find some of the steps involved in Alabama to complete a closing:

1.         Fully executed purchase agreement including all necessary addendums. (Fully executed: Legible

            agreement and addendums signed and initialed by all parties involved)

2.         Deposit of earnest money.  (Earnest Money: money submitted with the purchase agreement by the

            buyer and used toward the purchase of the home)

3.         Home inspection or waiver

4.         Request for repairs or release

5.         Appraisal of the property by lender

6.         Lender required repairs

7.         Loan Approval

8.         Homeowners Insurance

9.         Pest Inspection/wood infestation report or waiver

10.       Lead Based Paint Inspection or waiver

11.       Septic Tank/Sewer Inspection or waiver

12.       Survey or waiver

13.       Completion of Repairs or resolution

14.       Removal of any and all contingencies

15.       Title Commitment Policy

16.       Underwriter approval

17.       Final walk-through inspection

18.       Review of HUD I Statement

19.       Closing:  Sign and/or notarize all documents to complete the buying process as directed by the real

            estate closing attorney in Alabama.

20.       Deposit of all funds necessary to complete the deal!

This seems like a long real estate closing checklist, but with the guidance of your Realtor, it can go very smoothly!