Closing Checklist (Commonly Used Documents)
Last reviewed February 2003
Use Note: This checklist covers those documents commonly used in a typical residential real estate closing.
Contributor(s):
Gregg A. Nathanson, Couzens Lansky Fealk Ellis Roeder & Lazar PC, Farmington Hills, MI.
Go to the Couzens Lansky Fealk Ellis Roeder & Lazar PC Website.
This form originally appeared in the book Michigan Residential Real Estate Transactions. ICLE and/or the form contributor owns all rights in this form under U.S. copyright law.
Download form in: MS Word.
 How to download files.

To view the form before downloading, scroll down.

           Closing Checklist (Commonly Used Documents)


Seller:
Buyer:
Property:
Lender:
Title insurance company:
Broker(s):
Closing date:

1.   Warranty deed
2.   Seller's closing statement
3.   Buyer's closing statement
4.   Commitment for title insurance
     a.   Review easements, building and use restrictions, and
          other recorded instruments
     b.   Confirm that all title insurance company requirements
          have been satisfied
     c.   Mark-up at closing
5.   Survey
6.   Escrow agreements
     a.   Occupancy
     b.   Water
7.   Estoppel certificate (regarding borrowed funds)
8.   Owner's affidavit (regarding title matters)
9.   Property Transfer Affidavit (Michigan Department of Treasury
     Form 2766)
10.  Homestead Exemption Affidavit (Michigan Department of Treasury
     Form 2368)
11.  Request to Rescind/Withdraw Homestead Exemption (Michigan
     Department of Treasury Form 2602)
12.  Notice to Assessor of Transfer of the Right to Make a Division
     of Land (Michigan Department of Treasury Form 3278)  --  Use
     when land division rights are transferred
13.  IRS Form 1099-S
14.  Certification for No Information Recording (1099-S) on the
     Sale or Exchange of a Principal Residence  --  Use when gain
     on sale does not exceed $250,000/$500,000
15.  Bill of sale
16.  Nonforeign person affidavit
17.  Disbursement statement
18.  Compliance agreement  --  To correct documentation errors
     discovered after closing
19.  Standard one-year home warranty  --  Often included when a
     broker sells a used home
20.  Mortgage payoff letter
21.  Loan documents for new mortgage loan
     a.   promissory note
     b.   mortgage
     c.   HUD-1 settlement statement
     d.   federal truth-in-lending disclosures
     e.   waiver of escrow (if applicable)
     f.   uniform residential loan application
     g.   IRS Form W-9, Request for Taxpayer Identification Number
          and Certification
     h.   federal Emergency Management Agency standard flood hazard
          determination
     i.   error and omissions/compliance agreement
     j.   borrower's certification and authorization
     k.   affidavit and agreement
     l.   notice of assignment, sale, or transfer of servicing
          rights
     m.   letter detailing monthly payment amount
22.  Subdivision or condominium association status/payoff letter
23.  Homeowner's policy of insurance
24.  Cashier's check(s)
25.  Keys, alarm codes, garage door openers, appliance warranties
     and manuals, etc.
26.  Walk-through inspection to verify condition, repairs, etc.
27.  Real estate purchase agreement and amendments  --  Review to
     determine closing documents and issues