SELLERS CHECKLIST Please be aware this process can and often PDF

PURCHASES AND SALES OF HOMES

Create a tickler and closing checklist. • Be aware of time frames for Order survey inspection/update or new ... Real Estate: House/Condo: Buyer Seller

Real Estate Transactions in New York State

Fundamentals of a Real Estate Sale or Purchase Transaction New York Real Property Law §316. ... Prepare Closing Checklist Using Contract as Roadmap.

NYC BUYERS TIMELINE & CHECKLIST

Assess rates for fixed-rate loan and fluctuation scenarios for ARMs. • Decide on type of loan. • Estimate the size of your down payment and closing costs. Ask

Your mortgage closing checklist

Include Homeowners' Association (HOA) fees and if you don't have an escrow account

Closing Commercial Real Estate Transactions

Mar 4 2015 commitment into the closing portion of the real estate contract. ... keep a copy of the checklist and update it frequently as new matters ...

ABCs Of Closing Commercial Real Estate Acquisitions

Aug 3 2015 Set in New York City

Closing Procedures Guide and Checklist for New York State Charter

Closing Procedures Guide and Checklist for New York State Charter Schools Disposition of Property: NY Education Law §220 ...

SELLERS CHECKLIST Please be aware this process can and often

______How long have they owned the property? NEW YORK STATE TRANSFER TAX ... for a "standard" real estate transaction from contract through closing and.

Closing Checklist

The Bank of New York Mellon (“Master Servicer/Trustee” or “Trustee”). Midland Loan Services a PNC Real Estate business (“Sub-Servicer”).

8. PREPARATION FOR CLOSING; CLOSING; POST-CLOSING

Apr 23 2012 preparation of a TP-584 (New York State Real Estate ... Buyer's attorney uses checklist iu the conduct of the closing to aid as he reviews ...

New York State Bar Association’s Residential Real Estate

Closing Checklist for Single?Family House Checklist for Seller's Attorney: Closing and Post?Closing Checklist for Purchaser's Attorney: Closing and Post?Closing Residential Real Estate Transactions: Seller's Document Checklist Residential Real Estate Transactions: Buyer's Document Checklist

Mortgage Closing Checklist - Consumer Financial Protection Bureau

Record the names and phone numbers for two trusted individuals (i e real estate or settlement agents) who can securely confirm payment instructions in case of a scam attempt 5 Schedule time in advance of your closing to review documents 6 Compare your Closing Disclosure to your most recent Loan Estimate

PREPARATION FOR CLOSING CLOSING POST CLOSING MATTERS

Closing Preparation (cont’d) Both Attorneys Confirm client attendance at closing If not prepare a power of attorney & obtain approvals Confirm checks and payees Remind clients to bring photo ID and checkbook Seller to cancel insurance and utilities as of closing date Purchaser to set up utilities in their name

RESIDENTIAL REAL ESTATE CLOSING CUSTOMS BY COUNTY NEW YORK COUNTY

RESIDENTIAL REAL ESTATE CLOSING CUSTOMS BY COUNTY NEW YORK COUNTY x Title Insurance Rate Zone___ Zone 1 _x__ Zone 2 x Contracts drafted by Attorney or Realtor-Seller’s Attorney x If Realtor are they subject to Attorney approval/disapproval and is "written" Attorney notification required? N/A

SELLER’S CHECKLIST - fkmlawcom

What are some tips for creating an effective real estate closing checklist?

Inform the seller of acceptance or objection to the title. Obtain affidavits, releases, and other curative documents, if any. Search circuit court records and verify the property. Thoroughly review any available invoices. Notify the other party about approval or rejection of the title. Conduct a survey. Review contract for services, if necessary.

What should a seller include in their real estate closing checklist?

A closing statement (also called a settlement statement) is an itemized list of costs associated with the real estate transaction. Think of this like a receipt for your property. It includes how much you’ll have to pay on closing day, along with other fees and taxes associated with the sale.

What documents are needed for a real estate closing?

These are the most important documents needed for the closing process. The deed is what officially transfers ownership of real estate. It includes a property description, along with the names of the buyer and seller. It’s a legal document that is proof of property ownership.

What should you look for during a final walk-through before closing?

Typically, the final walk-through occurs in the 24 hours before the closing. This step enables buyers to check that the home is vacated, clean, and in the expected condition. During the final walk-through, take your time to verify all repairs and that all items/appliances/furniture included in the Offer to Purchase are correct.

Please be aware this process can and often does average three (3) months. Purchase price: $_________________________________________________________ Mortgage sought: $_______________________________________________________ HAS CLIENT BEEN KNOWN BY ANY OTHER LAST NAMES IN THE LAST 10 YEARS? _____________________________________________________________ ARE THERE ANY EXISTING MORTGAGES ON PROPERTY? _______________ If yes, what are the approximate balances and are any a line of credit?

REAL ESTATE COMMISSIONS:

ARE ALL SELLERS NYS RESIDENTS? _______ (if not, attach non-resident form) Is this a primary residence? ______How long have they owned the property?________ NEW YORK STATE TRANSFER TAX $_________________ $4.00 per $1,000.00 of the sales price. SATISFACTION OF MORTGAGE As per pay-off letter(s) Pay-off of outstanding principal, accrued interest, late charges (if any), and fee for preparation of satisfaction. IF YOU HAVE A "CREDIT LINE" MORTGAGE, IT MUST BE FROZEN AND THE FREEZE CONFIRMED IN WRITING PRIOR TO CLOSING. If you do not do so, you run the risk that the title company will, in addition to the actual pay-off amount, hold escrow to secure any unused portion of your credit line. RECORDING SATISFACTION OF MORTGAGE $ 145.00-220.00

Per mortgage.

"PICK-UP" FEE $ 175.00-250.00 To title closer for forwarding mortgage pay-off, per mortgage.

BROKER'S COMMISSION $_________________

As per your commission agreement.

ATTORNEY'S FEES $_________________

($____________ , plus $45.00 disbursements, less retainer paid on contract.) Note: The above fee is for a "standard" real estate transaction, from contract through closing and with up to one hour of post-closing services. Extraordinary services, such as escrow and title problems (clearance of old mortgages), litigation, and the like, shall be billed at the rate of $ ___________ per hour (or as per your legal plan). Boundary line agreements will be billed a flat fee of $200. Pre-possession and post-possession agreements will be billed a flat fee of $100. Should the deal "fall through", payment for services rendered to that point will be equal to the This is a high volume, yet personal practice. As such, we unfortunately cannot respond to calls or

emails from real estate agents. All phone calls and emails will be responded to within one

business day, and in most instances sooner. The disbursements do not include any overnight mailing fees necessary at the discretion of the attorney or paralegal. The fee for each overnight mailing is $20.

SPECIAL CONDITIONS

1. MORTGAGE COMMITMENT DATE: ______ days of contract

You authorize us to grant an additional 15 day extension if necessary.

2. "ON OR ABOUT" DATE:

While "on or about" usually means that either party can adjourn the closing for thirty (30) days after the target date, that thirty (30) days is not written in stone and may vary depending on the individual facts and circumstances of your file.

3. CONDITION OF THE PREMISES PURSUANT TO THE CONTRACT:

The standard contract provides that: premises will be vacant and broom-clean (free of all personal

property, furniture and debris but subject to your right to "hold over" after closing); "as is" as of the

date of contract signing; heating, a/c, plumbing, electrical systems and appliances in working order;

and, roof free of leaks. The purchaser shall be conducting a pre-closing inspection to confirm the foregoing.

4. HOLDOVER:

will remain in escrow to insure possession and the condition of the premises. THIS WILL BE HELD UNTIL THE PREMISES HAVE BEEN DELIVERED TO THE PURCHASERS AND THE CONDITION OF THE PREMISES ACCEPTED. During the hold over, you will pay the taxes, utilities, and the In addition, there will be a penalty of $ per day if you hold over beyond ________ days.

5. CAPITAL GAINS:

You should consult with your accountant regarding any capital gains/tax implications from this sale.

6. DOCUMENTS TO BE PROVIDED PURSUANT TO THE CONTRACT:

Certificates of occupancy as required and discussed.

7. ADJUSTMENTS:

Taxes. You will be reimbursed for taxes from the date of closing/possession through the end of the prepaid period. Maintenance charges, if applicable, also get adjusted. FuelOil/Propane. In order to be reimbursed by the purchasers, you will have to bring a dipstick" reading from your supplier showing the amount of fuel remaining and the price per gallon to the closing. Utilities/Service Contracts. You will have to arrange for final bills for telephone, water, cable and electric services once a closing/possession date has been set. If the purchasers have agreed to assume any of your service contracts, you will be reimbursed for the unused portion upon proof of the contract, that it can be transferred, and the cost.

8. PROPERTY CONDITION DISCLOSURE STATEMENT:

If you did not provide a Property Condition Disclosure Statement, the purchasers will receive a

$500.00 credit as against the purchase price at closing as required by the statute. If you provided a

Statement, no credit will be due; however, you must provide an amended statement if you become

aware of a material change in the condition of the premises prior to the closing. If this becomes the

case, please contact the office AT ONCE.

9. OTHER SPECIAL CONDITIONS:

Carbon Monoxide Detector/Smoke Detector Required to be installed by seller(s) prior to closing.

10. OTHER MATTERS SPECIFIC TO YOUR TRANSACTION (IF ANY):

11. CONTACT INFORMATION:

Attorney: Daniel J. DeRosso, Esq. 631-231-1450 x 224 dderosso@fkmlaw.com Paralegal: Leandra Conde 631-231-1450 x 281 lconde@fkmlaw.com

Fax: 631-231-4732

your closing date may be five to ten business days or more from the time the file and all parties and attorneys involved are ready to close.

Date: _______________

Copy received and read:

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[PDF] SELLERS CHECKLIST Please be aware this process can and often