Checklist Checklist

Category: Property

  • #83 MORTGAGE BROKERS Buyer Checklist You Need To Know Before You Spend Your Money. 40 Buyer-Beware Intelligence Points.

    Financial Information Notice: This checklist provides general educational information only. It is not financial, mortgage, tax, or legal advice. Compensation structures, licensing, loan products, and mortgage regulations vary by jurisdiction.

    “The mortgage broker may help you shop—but you still need to understand what you’re actually comparing.”

    CFPB recommends comparing multiple mortgage offers and Loan Estimates rather than relying on a single lender or quote.

    25 Buyer-Beware Warnings

    1. ☐ Verify licensing where applicable.
    2. ☐ Ask how the broker is compensated.
    3. ☐ Ask who pays the broker.
    4. ☐ Ask whether compensation varies by lender/product.
    5. ☐ Identify the lenders being considered.
    6. ☐ Ask how many lenders the broker actually accesses.
    7. ☐ Request written loan options.
    8. ☐ Compare Loan Estimates.
    9. ☐ Compare interest rates.
    10. ☐ Compare APR.
    11. ☐ Compare points.
    12. ☐ Compare lender credits.
    13. ☐ Compare origination charges.
    14. ☐ Compare cash to close.
    15. ☐ Compare monthly payment.
    16. ☐ Compare loan term.
    17. ☐ Compare adjustable-rate features.
    18. ☐ Compare prepayment provisions.
    19. ☐ Ask whether the broker receives lender incentives.
    20. ☐ Don’t accept “best rate” without documentation.
    21. ☐ Don’t compare different loan structures as if they were identical.
    22. ☐ Get competing offers.
    23. ☐ Ask what can be negotiated.
    24. ☐ Verify all promised terms in writing.
    25. ☐ Don’t confuse broker convenience with lowest total cost.

    Premium Checklist

    Broker Audit

    ☐ License
    ☐ Experience
    ☐ Compensation
    ☐ Lender access
    ☐ Product access
    ☐ Conflicts
    ☐ Communication

    Quote Comparison

    Broker Quote → Loan Estimate → Competing Loan Estimate

    Compare:

    Rate / APR / Points / Fees / Credits / Payment / Cash-to-Close / Five-Year Cost

    CFPB specifically recommends obtaining and comparing Loan Estimates from multiple lenders.

  • #67 CONSTRUCTION LAWYERS Buyer Checklist You Need To Know Before You Spend Your Money. 25 Buyer-Beware Intelligence Points.

    Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction.

    “A construction contract can look simple until something goes wrong.”

    Construction projects can involve contracts, subcontractors, payment disputes, safety obligations, change orders, delays, liens, insurance and regulatory requirements. OSHA’s construction standards impose requirements on contractors and subcontractors on covered projects.

    1. ☐ Don’t start without a written contract.
    2. ☐ Verify contractor licensing where applicable.
    3. ☐ Verify insurance.
    4. ☐ Define scope.
    5. ☐ Define materials.
    6. ☐ Define completion standards.
    7. ☐ Define payment schedule.
    8. ☐ Define retainage where applicable.
    9. ☐ Define change-order procedures.
    10. ☐ Define delay provisions.
    11. ☐ Define dispute procedures.
    12. ☐ Review indemnity provisions.
    13. ☐ Review warranty provisions.
    14. ☐ Review termination rights.
    15. ☐ Verify subcontractor relationships.
    16. ☐ Understand lien exposure.
    17. ☐ Document changes.
    18. ☐ Photograph progress.
    19. ☐ Keep invoices.
    20. ☐ Maintain communications.
    21. ☐ Verify inspections.
    22. ☐ Track deadlines.
    23. ☐ Don’t make undocumented verbal agreements.
    24. ☐ Review final payment conditions.
    25. ☐ Preserve closeout documents.

    Premium Checklist

    Scope → Contract → Contractor → Insurance → Payment → Change Orders → Performance → Dispute → Closeout

  • #66 REAL ESTATE LAWYERS Buyer Checklist You Need To Know Before You Spend Your Money. 40 Buyer-Beware Intelligence Points.

    Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction.

    “The price of the property isn’t the same thing as the cost or legal risk of owning it.”

    The CFPB recommends carefully reviewing closing documents and notes that buyers may want their own attorney to review documents depending on circumstances.

    1. ☐ Verify who owns the property.
    2. ☐ Review title.
    3. ☐ Review liens.
    4. ☐ Review easements.
    5. ☐ Review restrictions.
    6. ☐ Review zoning.
    7. ☐ Review permitted use.
    8. ☐ Review the purchase contract.
    9. ☐ Understand contingencies.
    10. ☐ Verify inspection rights.
    11. ☐ Review survey issues.
    12. ☐ Review title insurance.
    13. ☐ Understand closing costs.
    14. ☐ Review financing terms.
    15. ☐ Review environmental concerns.
    16. ☐ Verify property taxes.
    17. ☐ Review HOA restrictions.
    18. ☐ Review leases for investment property.
    19. ☐ Review tenant obligations.
    20. ☐ Verify representations.
    21. ☐ Document negotiated repairs.
    22. ☐ Review closing documents.
    23. ☐ Verify wiring instructions independently.
    24. ☐ Don’t sign documents you don’t understand.
    25. ☐ Preserve every transaction document.

    The CFPB specifically warns consumers about last-minute mortgage closing scams involving fraudulent wiring instructions.

    Premium Checklist

    Property → Title → Contract → Financing → Inspection → Restrictions → Closing → Ownership