Real Estate Checklists and Outlines - Northern California Home

Checklists and Outlines

Seller's California Residential Transaction Outline:
An Outline of the typical steps in a California residential real estate transaction, summarized from the seller's viewpoint.

Seller's Power Checklists (2)
Two checklists for California Sellers:
1. Seller's Data Sheet Checklist;
2. Seller's Real Estate Forms Checklist
(Commonly needed to close a ***typical*** California residential real estate transaction.

Curb Appeal Checklist

DRE Reference Handbook

DISCLAIMER: These Outlines and Checklists are for general educational and informational purposes only. Please consult with a Real Estate Broker or Attorney if you have questions or concerns.

SELLER'S TRANSACTION OUTLINE

SELLER'S TRANSACTION OUTLINE

1. Seller's Outline for Completing Transaction
- Seller's Power Checklists (2) for events and documents in the transaction
2. Guide to Listing, Advertising, and the Multiple Listing Service (MLS)
- Ordering a "Property Profile":
Obtaining your property's legal description
  Obtaining comparable sales information
- Pricing your property
     Comparable sales
     Free or low-cost appraisal tools
     Other market listings
     Seller's pricing do's and don'ts
     When to reduce price; how much to reduce
- Preparations for listing
     Pre-listing repair guidelines
     Cleaning/re-conditioning/painting/landscaping considerations
     Pre-listing inspection
- Listing in the Multiple Listing Service(MLS)
     Fixed cost MLS listing
     When/how to use the MLS
- Listing/Advertising Sources (other than MLS)
     Preparing a Marketing Plan
     Open Houses
     Signs/Brochures/Other Handouts
     Media Sources
     Listing/Advertising Content
     Listing/Advertising do's and don'ts
3. Evaluating prospective Buyers
- Overview
- Pre-qualification letters
- Checking Buyer's credit
     Running a credit check on Buyer
     Checking references
4. The Residential Purchase Agreement (RPA)
- Overview
- Financing
     Buyer's deposit
     First Deed of Trust financing
     Second Deed of Trust financing
     Seller take-back financing
     Financing contingencies
- Allocation of Costs between Sellers and Buyers
     Pest Control costs
     Inspection costs
     Escrow and Title costs
     Property and Transfer taxes
     Recording fees
     Homeowner's Association (HOA) fees and costs
     Other fees and costs
- Inclusion/exclusion of personal property/other items in sale
     Overview of "personal property" vs. "real property"
     Refrigerator, washer, dryer, appliances
     Window-coverings, blinds, shades, drapes
     Above-ground pool, spa, hot-tub
     Other items
- Inspections; Repairs
     Overview
     Seller's do's and don'ts regarding Inspections
     Inspection contingencies
     Inspection reports
     Repairs
     Alternatives/discounts in lieu of repairs
     Post-repair inspections
     Other inspection issues
- Other Contingencies
     Overview
     Appraisal contingency
     Buyer's sale of existing home contingency
     Court approval contingencies (estate sale; foreclosure; bankruptcy; etc.)
     Other "subject to" contingencies
     Removal of contingencies
     Abuse of contingencies
- Disputes with Buyer and Cancellation
     Mediation--use by Seller
     Arbitration--use by Seller
     Liquidated Damages clause--use by Seller
     Joint Escrow Cancellation Instructions
     Use/Effects of litigation and lis pendens
5. Opening escrow/escrow instructions
- Overview
- Selecting an escrow agent/company
     Costs
     Services
- Using your escrow agent as an information resource
     For transaction services
     For documents
- Opening escrow
- Sample escrow instructions
6. The Transfer Disclosure Statement (TDS)
- Overview
- Coordination with other disclosures
- Seller's TDS information
     Completing the form: making full disclosure
     The meaning of "significant" defect
     Disclosure wording: the do's and don't's
7. Other mandatory/recommended Seller disclosures and forms
- Pest control/termite disclosures
- Geological disclosures
- Flood, fire, earthquake, lead paint disclosures
- Other environmental disclosures
- Condominium/common interest disclosures
- Proximity disclosures
- Disclosure of past inspections, reports, corrections, etc.
- Updating disclosures
- Seller's do's and don'ts of disclosures
8. Title Insurance/Preliminary Title Report
- Overview
- Selecting a title company
     Costs
     Services
- Using your title company as an information resource
     For transaction services
     For documents
- Ordering a Preliminary Title Report
- Sample Preliminary Title Report
9. Inspections (termite, physical, final walk-through, etc.)
- Overview
- Pest control/termite inspection
     Schedule 1 vs. Schedule 2 work
     Completion Certificate
- Physical inspection
- Other inspections
- Final walk-through
10. Close of Escrow (COE) and forms
- Overview
- Items that typically delay COE
- Seller's decisions regarding early occupancy by Buyer
- Seller's decisions regarding sale/lease-back by Seller
- Seller's Estimated Closing Statement
- Overview of tax/other forms signed in connection with COE
- Seller's Final Closing Statement

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SELLER'S POWER CHECKLISTS (2)

1. SELLER'S DATA SHEET CHECKLIST
2. SELLER'S FORM CHECKLIST

NOTE: The Checklists are NOT meant to be all-inclusive.
Please consult with a Real Estate Broker or Attorney if you have any questions.

1. SELLER'S DATA SHEET CHECKLIST
Checklist Seller's Data Sheet For A Typical California Residential Sales Transaction

Property Information:

Address:
Map Grid/Location:
Assessor's Parcel Number (APN):
Selling Price:
Multiple Listing Service (MLS) Number:

Sellers:

Seller #1
Legal Name:
Address
Tel:
Fax:
Email:

Seller #2
Legal Name:
Address:
Tel:
Fax:
Email:

Listing Agent/Broker:
Address:
Tel:
Fax:
Email:
Listing Commission Payable:

Buyers:

Buyer #1
Legal Name:
Address:
Tel:
Fax:
Email:

Buyer #2
Legal Name:
Address:
Tel:
Fax:
Email:

Selling/Cooperating Agent/Broker:
Address:
Tel:
Fax:
Email:
Selling/Cooperating Commission Payable:

Escrow Company Information:

Escrow Company:
Address:
Tel:
Fax:
Email:
Escrow Officer:
Escrow Number:
Date Escrow is Opened:
Date Escrow is Scheduled to Close (COE):

Title Company Information:

Title Company:
Address:
Tel:
Fax:
Email:
Title Officer:
Title Order Number:

Additional Service Providers:

Mortgage Broker:
Address:
Tel:
Fax:
Email:
Loan Number:

Termite/Pest Control:
Address:
Tel:
Fax: Email:
Work Order Number
Report Cost:

Home Warranty Company:
Address:
Tel:
Fax:
Email:
Policy Number:
Policy Cost:
Inclusions:
Exckusions:

Professional Disclosure Report Service:
Address:
Tel:
Fax:
Email:
Order Number:
Disclosure Report Cost:

Transaction Dates:

Date of Contract (Residential Purchase Agreement):
Buyer's Loan Prequalification Letter (7 days):
Condo Home Owners' Association (HOA) Documents (7 days):
Transfer Disclosure Statement (3 Days):
Other Disclosures & Reports Out (7 days):
Disclosure and Inspections Contingency (17 days):
Appraisal Contingency (17 days):
Loan Contingency (17 days):
Other Contingencies:

2. REAL ESTATE FORMS CHECKLIST
Checklist of CAR and Other Forms For A ***Typical*** California Residential Sales Transaction

Listing Forms:

CAR Form AD-1 Disclosure Regarding Real Estate Agency Relationships (Sellers)
CAR Form AS-1 Sellers' Affidavit of Non-Foreign Status and/or California Withholding Exemption:
CAR Form RLA Residential Listing Agreement:
CAR Form KLA Keysafe/Lockbox Addendum and tenant's Permission to Access Property
CAR Form SA Seller Advisory:
MLS Input Data Sheet::

Contract Formation and Contingencies Forms:

CAR Form RPS Residential Purchase Agreement:
CAR Form AD-2 Disclosure Regarding Real Estate Agency Relationships (Buyers)
CAR Form BIA Buyers' Inspection Advisory
CAR Form HID Home Inspection Disclosure ("For Your Protection Get A Home Inspection"):
CAR Form MCA Market Conditions Advisory
CAR Form WPA Wood Destroying Pest Inspection and Allocation of Costs Addendum:
CAR Form CO-1 Counter Offer (if necessary):
CAR Form ADM-1 Contract Addendum (if necessary):
CAR Form CR-1 Removal of Contingencies:
CAR For RR-1 Request for Repairs
Other:

"Property Condition" And "Proximity" Disclosure Forms:

CAR Form HID For Your Protection Get A Home Inspection
Car Form TDS Real Estate Transfer Disclosure Statement
CAR Form DBD Data Base Disclosure
CAR Form WHS Water Heater Statement of Compliance
CAR Form SDS Smoke Detector Statement of Compliance
CAR Form SSD Supplemental Statutory and Contractual Disclosures
CAR Form SPQ Seller Property Questionnaire
CAR Form SBSA Statewide Buyer and Seller Advisory
CAR Form FLD Lead Based Paint and Lead Based Hazards Disclosure (for pre-1978 homes)
CAR Form RGM Radon Gas and Mold Notice and Release Agreement
CAR Form NHD Natural Hazard Disclosure Statement
Earthquake Hazards Report
Earthquake Booklet and Receipt: "Home Owners Guide to Earthquake Safety and Environmental Hazards"

Additional Physical Condition Disclosures, Where Applicable:
A Pet Damage and Pet Odor Disclosure
An Asbestos Disclosure
An ABS Pipe Disclosure (for homes built/remodeled from 1982-1987)
A Carbon Monoxide Disclosure
A Geological/Soils Disclosure
A Survey/Boundary Disclosure
CAR Form MHTDS Manufactured/Mobile Home Transfer Disclosure Statement
CAR Form HOA Homeowner Association Information Request

CAR Form VP Verification of Property Condition/Final Walk-Through
Other:

Reports:

Natural Hazard Disclosure Professional Report Service:
Appraisal Report:
Termite/Pest Control Inspection Report:
Termite/Pest Control Clearance Certificate:
Buyers' Professional Home Inspection Report:
Other Inspections and Reports (Roof, Pool, Geological, Well, Septic, Survey, etc.):
Other:

Title and Escrow Documents:

Escrow Instructions and other documents (from Escrow)
Buyer's Loan Documents (from Lender)
Preliminary Title Report: (from Title)
Covenants, Conditions and Restrictions (CC&R's):
Estimated Closing Statements: (from Escrow)
Final Closing Statements and closing documents (from Escrow):

If Problems Occur or Transaction Falls Out of Escrow:

CAR Form NSP Notice to Seller to Perform:
CAR Form NBP Notice to Buyer to Perform:
CAR Form ETA Extension of Time Addendum:
CAR Form DCE Demand to Close Escrow
CAR Form RC-11 Release of Contract:
CAR Form CC Cancellation of Contract, Release of Deposit and Joint Escrow Instructions
Escrow Cancellation Instruction (from Escrow):

This list is for educational and informational purposes only, and is not meant to be exhaustive. There may be other documents required in a transaction, but this list describes the forms that are typically required for a California residential real estate resale transaction. Please consult with an Attorney or Real Estate Broker.

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