Kraft Fine Homes
717 Washington Street
Newton, MA 02460
(617) 527-7002
Email: slanciloti@kraftfinehomes.com
BUYER'S CHECKLIST
   
This checklist is intended to make the process of purchasing your new home a positive and memorable experience. As your real estate advisor our role is to keep the process moving forward. Therefore, we will be in contact with you weekly to monitor the progress of all details. If at any time you have questions or need clarification regarding any of the following, please call us immediately.
   
EXPENSES
  A couple of days prior to closing, contact the bank attorney or loan officer regarding your closing expenses. Usually, they are itemized and explained around the time of mortgage application (A certified check is required.)
   
TAXES
  At closing, unpaid taxes will be adjusted on a per diem basis.
   
INSURANCE
  At least two weeks prior to closing, notify your insurance company of your pending purchase.
IMPORTANT--Bring to the closing an insurance binder or policy as required by your bank.
   
UTILITIES
  Final readings will be arranged by the Seller, but two weeks prior to closing, contact utilities to make billing arrangements and to insure continuous service.
   
OIL TANK (if applicable)
  One or two days prior to closing, Seller will fill the fuel tank (with your consent) or a current reading of tank contents will be taken. You will reimburse the Seller for the remaining fuel at closing.
   
TELEPHONE
  Make arrangements to begin service and obtain phones if needed.
   
CABLE TV
  Notify regarding your impending move.
   
HOUSE KEYS, ETC.
  You will receive house keys at the closing. Sellers have been requested to leave any pertinent household information or documents.
   
SCHOOL RECORDS
  If you have school age children, arrange for their records to be forwarded to new schools.
   
INCOME PROPERTY ONLY
  At the closing, you will be given security deposits, prepaid rental income and any other applicable information or documents.
   
CHANGE OF ADDRESS
  Provide new address to the following: Driver's license Place of Employment Bank Accounts Insurance Co.(life, health, car, house) Dog license Subscriptions Credit Cards Post office Creditors
   
BRING TO CLOSING
  1. Paid insurance policy binder
2. Certified check for remaining down payment
3. Personal checks for minor expenses
   
BUYER INFORMATION
 

Since it is your responsibility to coordinate utility changes and provide insurance coverage at your new property, I have compiled the applicable information below for your reference:

NEW ADDRESS___________________________________________

NEW MAILING ADDRESS_ __________________________________________

POWER COMPANY___________________________________________

WATER COMPANY________________________________________

SEWER COMPANY________________________________________

OIL COMPANY________________________________________ (Presently being used by the seller)

TELEPHONE COMPANY________________________________________

   
   
WHAT TO BRING WHEN APPLYING FOR A MORTGAGE
   
  The goal of the mortgage originator and underwriter is to work with you to ultimately provide you with a mortgage commitment to purchase your new home. Sometimes, the process may become frustrating and appear unnecessary. Please try to be patient and understand that it is in your best interest to provide all information in a timely fashion. The bank is certainly not trying to prevent you from securing a mortgage. The bank is governed by many rules and regulations which are the guidelines for granted mortgages.
   
 
  1. Purchase and sales agreement executed by all parties.
     
  2. Account numbers for each bank account where deposits are held, plus the name, address and zip code of each depository.
     
  3. Loan numbers for each mortgage loan outstanding on other properties owned, plus the name, address and zip code of each lender.
  4. Loan numbers for each installment loan outstanding, plus the name address and zip code of each lender.
     
  5. Name and telephone number of a person whom the appraiser should contact to gain access to the property being purchased.
     
  6. Name and telephone number of the real estate brokers involved in the transaction, both listing and selling broker.
     
  7. Your personal attorney' name and telephone number. The closing attorney represent the bank, you are not required to have your personal attorney, I am required to inform you of your options.
     
  8. A copy of your canceled earnest money check.
     
  9. A complete schedule of your real estate holdings. Include the address of each property, the type of property and number of rental units, if rented, the income from each property, the mortgage payments, the taxes and insurance and any income (or loss) from operating the property.
     
  10. If you are self-employed or have tax shelters, bring two years'income tax returns.
     
  11. Social Security numbers for each borrower.
     
  12. Name and address of your present employer(s) for each borrower; if employed less than two years, the name(s) and address(s) of previous employers during the previous two years.
     
  13. If you were a full-time student at any time during the past two years, be prepared to verify this status.
     
  14. Photocopies of your stocks and bonds, if you use their value to qualify for the mortgage loan; if they are in the hands of your broker, provide the name and address of your broker, plus your account number(s).
     
  15. Condominium buyers should try to obtain a copy of the condominium documents; if the project is FNMA 1028.
     
  16. An estimate of the annual property taxes and a reliable quote for insurance; condominium buyers should provide an estimate for the homeowners association fee. If this fee includes heat, include that information.
     
  17. The amount of money you wish to borrow and the length of time you need the money.
     
  18. Listing sheet or legal description (book & page).
     
  19. Present current address and previous address if you have lived at your " present address less than two years.
     
  20. Gross income you are currently earning at your present job(s).
     
  21. Vested interest in retirement fund.
     
  22. Life insurance net cash value and the face amount.
     
  23. If divorced, the amount of support payments per month, if any, and copies of canceled checks for the last 6 months. You may also need a copy of the divorce decree. (This is to verify for support income).
     
  24. If you filed bankruptcy, you need a copy of the petition and discharge.
     
  25. List of previous credit references, including addresses, account numbers, highest outstanding balance and date paid. (Much of this will be on your credit report).
     
  26. A check for the application fee. This fee covers the cost for the credit report and appraisal.
     
  27. An account in writing of any problems concerning this application, such as late payments to a credit card company or lapses in employment