Document Checklists: Lecture 7

Document Checklists

Now, let’s discuss the documents. Along with the timeline, the documents are very important. You’re going to be working with the Transaction Coordinator to make sure all the documents are in, they’re signed, initialed, dated within the timeframe required and correctly sent out.

Use your online transaction management system. This is a list of the documents needed from the seller’s side.

Your Transaction Coordinator is going to be responsible for sending and collecting the documents on your behalf, but you still need to know what they are. Make a checklist of the these items.

This is a sample checklist from the seller’s side of all the documents that are needed.

There can be 50+ documents that are required for this particular file and each document as it’s uploaded, the Transaction Coordinator is going to mark off with the green box that the document was received and the date that it was received. You can see the green box is checked off.

Here’s the date this document was received and then a PDF copy of it, which you can open and view.

One of the most important documents that needs to be uploaded is the estimated HUD­1. At closing, you’ll have the final HUD­1. But often your broker relies on the estimated HUD­1 to prepare your commission check, plus the Commission Instructions, known as the CI.

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