q Provide buyer with general market information

q Pre-qualify Buyer & secure pre-approval with financing institution

q Discuss agency relationships with Buyer & confirm understandings

q Disclose agency relationship in writing (Civ. Code § 2079.14)

q If exclusive listing, insert termination date in listing agreement (Bus & Prof Code § 10176(f)); include in 10 point boldface type immediately preceding broker compensation provisions, that real estate broker commissions are not fixed by law and are negotiable (Bus & Prof Code § 10147.5)

q Inspect property with Buyer & conduct competent & diligent inspection

q Prepare offer

q Write financing Homeowners Insurance & Appraisal Contingencies in offer

q Write a professional physical inspection contingency clause in offer

q Provide for a review by an accountant and/or attorney in offer

q Specify desired warranties regarding operability of plumbing, wiring, sewer, etc.

q Require a boundary survey, if a rural area, property includes a common driveway, or where a possible boundary dispute could arise

q Insist on CLTA Extended Policy or ALTA-R Policy of Title Insurance

q Advise Buyer that most lenders require Buyer to purchase Policy of Title Insurance, insuring the lender

q Provide agency disclosure form to Seller at or before presentation of offer

q Submit offer

q Review Transfer Disclosure Statement (T.D.S.) that is provided by Seller, include your observations & obtain Buyer’s signature

q Recommend Buyer obtain a Home Inspection Report using a licensed contractor or engineer

q Obtain property details by questioning the Listing Agent

q Use Counter-Offer Form once for counter to Seller’s counter, then draft new offer, unless form provides for multiple offers counters

q Upon acceptance, confirm that counter-offer & original offer are signed & initialed by both Buyer and Seller

q Verify & document that all disclosures to Buyer have been made

q Cause Buyer to sign New Home Inspection Disclosure in all transactions involving FHA Mortgage Insurance (Mandatory from May 21, 1996)

q Review City/County Dept. of Building & Safety Property

q If Seller is financing, prepare a Seller Financing Disclosure Form (Civil Code § 2956)

q Prepare a Buyer’s Affidavit of "Intent to Reside In

q Open Escrow

q Coordinate Appraisal with Lending Institution

q Assist Buyer in obtaining financing

q Obtain good faith estimate of Buyer’s costs to close (12 U.S.C. § 2603-b)

q Review and deliver to Buyer Inspection Reports, T.D.S. & Pest Control Report; If conditions are considered unacceptable, cause Buyer to cancel deal within 3 days after receipt of T.D.S.

q Upon receipt of written disclosure of any defects/malfunctions in converted condos Unit’s and common area’s "major systems," Buyer only has 3 days (if hand delivery, 5 days if mailed) to deliver written notice of termination to the Seller or Seller’s Agent (Civ. Code § 1134)

q Review Preliminary Title Report & verify accuracy

q Review loan documents & explain to Buyer

q Re-inspect property prior to closure

q Coordinate Buyer’s Deposit of Good Funds (Ins. Code § 12413.5); confirm with escrow holder form of funds to be brought in to avoid delay in escrow closing

q If broker negotiated loan within 3 days after receipt of a loan application or before the borrower becomes obligated on the note, whichever is earlier, the deliver to Buyer written statement containing all information required by Bus & Prof Code § 10241 (estimated maximum costs and expenses of making the loan, etc.); signed by Buyer & broker; "exact copy" delivered to Buyer at time of execution.

q Federally-regulated residential mortgage transactions: provide Buyer with a "good faith estimate," broker's real estate license number and, "clear and conspicuous statement on the face of the document" that the "good faith estimate" does not constitute a loan commitment; all applicable disclosures required by the Truth in Lending Act (15 USCA § 1601); if the loan calls for a balloon payment, appropriate balloon disclosures. [See Ca Bus & Prof Code § 10249(c)]

q Coordinate Buyer’s move to property with Listing Agent

q Maintain contact with Buyer to resolve any subsequent difficulties after escrow closes

q Collect commission

**NOTE: Checklist is not definitive. Professional Consultation Recommended.