Pending Checklist

  • Pay Earnest Money

    Make a personal check out to real estate company that has the home listed. Your lender typically prefers a personal check from your own checking or savings account, but if that is not an option for you, just ask for an alternative. In the memo line reference the property address that you are purchasing. Drop the check off to your Realtor!

  • Complete Your Mortgage Application With Your Lender

    While you\'ve completed your initial pre-approval with your lender, now it\'s time to complete your mortgage application. You or your Realtor will email a copy of the purchase agreement to your lender and you will complete any further items needed for the application.

  • Schedule

    Attached is a list of home inspectors. You may schedule your home inspection with any certified home inspector or one on this list. Once you\'ve picked an inspector, let you Realtor know what day your inspection is scheduled.

  • Submit Youe

    Once your inspector gives you a copy of the inspection report, schedule a time with your Realtor to go over questions, concerns, and complete a Buyer\'s Inspection Response.

  • The Appraisal Process

    Your lender will order a home appraisal. This is where a certified appraiser will visit the home and confirm that the home meets all of your loan requirements, as well as meets a value equal to or greater than your agreed upon purchase price. Simply confirm with your lender that the appraisal has been ordered and that it meets all requirements. 

  • Loan Processing

    During the pending process your lender will require several documents from you. This is normal. Make sure to get complete request in a timely manner and don\'t forget that your Realtor can always help with scanning, faxing, and emailing documents if needed. 

  • The Waiting Period

    During this time, your lender is working on your loan, getting any last minute requirements, and submitting your loan to final underwriting. The Seller of the home may be making any home repairs (if requested). 

  • Transfer Home Utilities

    Now that you know what day you will be closing on your new home and what day you will be getting possession, you should schedule any utilities such as water, sewer, trash, electric, or gas to be transferred into your name as of the date of possession.

  • The "Clear to Close"

    The lender has given you the "CTC" and you can now work with your Realtor to schedule a day and time for closing of the transaction. 

  • Schedule a Final Walk Through of Home

    The purpose of the "Final Walk-Through" is to verify that any repairs that may or may not have been requested after the home inspection were completed, as well as to confirm that the home has been kept in good condition during the pending period. 

  • Money Required for Closing

    Depending on loan type and down payment, your lender will let you know what amount (if any) you need to bring to closing. Any amount over $10,000 due must be wired. It is important to get the wiring instructions directly from your Lender, Title Company, or Realtor only. All funds due, whether in the form of a wire or a certified check, will be made payable to the Title Company. 

  • It\'s Closing Day!

    Don\'t forget to bring a copy of your ID to closing. Now sit back, relax, and enjoy! Congratulations on buying your new home!

This checklist was created by tuckertodolist

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