Congratulations! You are under Contract! Now What?

 Meet your Contract to Close Team:

 If you are working with Gold Financial:

Once we have a contract Brian will be handing your file  to Jani Mansour,  Sr. Loan Manager She will be contacting you next.  Jani will be preparing your loan for the mortgage underwriter and preparing your loan  for final approval, and getting credit card information to order your appraisal.

Sandra Jones, your loan processor. She will also help finalize your loan documents for closing, asking for any additional documents.

Maria Martinez is your Personal Client Coordinator. She is responsible for helping and working behind the scenes to get all necessary documents and contracts signed and sent to the right people. . Be sure to email/cc her on all correspondence, contact her if you get lost…she knows everything.

She can be reached during office hours at  (940) 210 2427  and  contracts@PinnacleRelo.com

Here is what happens next:

  1. Earnest Money
  2. Option Money
  3. Inspection
  4. Insurance
  5. Appraisal
  6. Option Ends
  7. Loan Conditions cleared
  8. Closing
  9. Possession

 

  1. EARNEST MONEY: DO THIS NOW

As soon as the contract is executed (signed) you will need to get your earnest money check to the title company. Make the cashiers check or money order out to title company listed on the contract. We will email you a FedEx label to get this right away.

 

  1. OPTION FEE: DO THIS NOW

Please  write a separate check for the option fee and make it out to the Seller.  Send it along with the Earnest Money to title co unless you have different instructions from us. . This will be credited to you at closing or kept by the seller if you decide to not pursue the purchase during the option period. This money buys you the right to take the home off the market, have it inspected, and should you decide you do not want to follow through with contract to “opt out” for no penalty but loss of option fee.

 

  1. INSPECTION: ORDER THIS NOW

After the contract is signed your option period begins. It is 7 business days from the date of final signatures.During this time you have the option to hire a reputable inspector and have the home inspected. You can be there for the inspection or not, your choice.

Pinnacle Relocation Discount , 15% off your home inspection with Calvary Inspections  682-465 7453  micheal.r.muzik@gmail.com.

We will get this scheduled for you.

You are welcome to meet Mike at the home if you choose,  Inspections are for you, most sellers will not negotiate repairs or be very limited in the scope. Look for high ticket items on the inspection that must be addressed. After you receive the inspection report email it to me and we can discuss together to discuss next steps.

*This inspection is not required by the lender, and the cost is not refunded to you. This is a private report for you only, it is not shared with the seller.

 

  1. INSURANCE : soon

You will eventually need to provide Jani  with your preferred Insurance company. This is a good time to get quotes and compare rates. I always refer my clients to Cammi Winover, Farmers Agent. She is a long time good friend and very sweet, and very good to her clients.  She will do anything for you.

 

  1. APPRAISAL: Soon

The appraisal will be ordered by the lender soon. You will be contacted by Jani  and asked for credit card info to pay for it. Aprox $400. This money does not get credited to your down payment, nor your closing costs. It is part of your up front, out of pocket expense for the home purchase. You will be refunded 100% at closing with your Pinnacle Relocation Benefits.

 

  1. OPTION PERIOD ENDS > Add this date to your personal calendar 

After the inspection, you have until the number of days specified (usually 7 business days from final signed contract)  to “opt out” of the contract without penalty. You will have the results of the inspection and can decide if there are items that you deem necessary that the sellers repair. Remember, you are accepting the home “as is”. But the option period gives you the right to withdraw if the inspections reveals large problems that you are unable to accept.

 

  1. FINAL LOAN REVIEW:

Jani will be working with you for final underwriter approval. She may be requesting additional documentation from you. Please get them to her quickly so that closing will not be delayed. After the loan has been submitted to the underwriter, it may not clear to close as the underwriter may ask for additional clarification on certain items. Jani will work with you should that happen to get more documentation to satisfy any loan conditions. After that, once the loan is clear to close,  Sandra will take over and the loan to closing and funding.

   8.CLOSING DATE

We will connect you with our concierge Utility Service Conversion service to help you get your new utilities switched and turned on in your new home.

Communicate with Marie to schedule a closing time that works for you.  Title company will send you the HUD 1 aprox one day before closing.  This is your final settlement statement that details all fees, costs, dollars, associated with the transaction for you and the seller. Ask me if you have any questions or need clarification on anything. Be sure to communicate with Sandra or Jani about how to bring the funds to closing. It is important to get instructions from her regarding which account and how the funds are received.

 9 POSSESSION
After you and the seller both sign (separate times) on closing day you will be able to get possession (keys)after funding. This is usually a few hours after signing, or even the next day.  It is important to communicate with me, Marie, Listing Agent, and title company on how to transfer keys. I prefer the seller bring them to title, and after funding, you go back to the title company to pick them up.

 10. TIME TO MOVE! 

If you need quotes for moving service, please contact us and we will get that set up for you. All Pinnacle Relocation Clients receive 5% discount on their move.

 

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