Checklist for Sales with New Loans-workforequity

How to make sure that you have not missed out on anything

The formation of a checklist is one of the easiest ways of getting things done properly, in an organized manner and completely without forgetting anything. When you are applying for a new loan then the checklist for sales with new loans must have following in the checklist:

The first thing that is of prime importance is the property. The checklist must contain the property address in legible writing.

For the application process the following will be required:

  • Credit application
  • Application receipt agreement
  • Order credit report
  • Job verification to see the repaying capacity of the loan applicant
  • History pertaining to rent payment
  • The credit report

Contract documents that must be enclosed in the checklist are the money contract, disclosure by the seller, lead disclosure, and water district notice

The checklist must have all the details regarding the loan process as well as the closing process. The open title is the first thing that must be included in the list. Then you must send the buyer to the mortgage company. The utilities of all kinds must be open for appraisal. Also if there are termites or you suspect termite you must order for the report on termite. When the loan has been closed and the deal has been finalised you will have to remove the signs and pickup the lockbox; close all utilities. You may not want the pool service available also you should stop advertising for the house with a thank you letter to the buyer.

Checklist For Sales With New Loans

Checklist For Sales With New Loans


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Sample Template Preview


PROPERTY ADDRESS:_________________________________________________________


  •                       Credit Application
  •                       Application Receipt Agreement (certified funds only)
  •                      Order Credit Report
  •                      Verify Job, Rental History, Credit Report


  •                     Earnest Money Contract
  •                     Seller’s Disclosure
  •                     Lead Based Paint Addendum if built before 1978
  •                     Water District (MUD) Notice


  •                     Open Title
  •                    Send Buyer to Mortgage Company
  •                     Constant Follow-Up on Loan Process through Closing every 3-4 days
  •                     Receive and Review Title Commitment
  •                     Make Sure All Utilities are on for Inspections/Appraisal
  •                     Order Termite Report (Report only good for 30 Days)
  •                     Verify Mortgage/Lien Payoff Information
  •                     Prepare or Order Release Of Liens
  •                     Payoff Investor Or Substitute Collateral (Change In Computer)
  •                     Schedule Closing
  •                     Remove Paid-Off Liens From Scheduled Transaction Payments
  •                     Cancel Insurance-Look For Refund
  •                      Turn Off All Utilities After Closing
  •                      Check Into Escrow Account Refund-Look For Refund
  •                      Remove Signs And Pick Up Lockbox
  •                      Cancel Lawn Or Pool Service If Necessary
  •                      Terminate All Advertising, Update MLS Listing
  •                      Thank You Letter To Buyer with small gift