Immediately After

During: Buying Process Overview: Closing: Immediately After

Closing

The following is a visual representation of the Immediately After process when buying homes as a Nomad. It is part of the Closing process that you’d use for closing on a property.

closing-immediately-after

Closing: Immediately After

Let’s look at each step in more detail.

Warning! Logging and tracking tasks is for Premium Nomads only.


Instead of updating your mailing address each time you buy a property, you may want to consider updating as many of your accounts as possible to electronic statements to avoid having to update them each time you move.

Mark this task as complete when done.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13


To avoid constantly updating your address as you move each year with Nomad, you may want to consider getting a post office box or private mailbox from a company like the UPS Store.

Then, have all your mail always go to that mailbox to avoid having to update them with each purchase/move.

Mark this task as complete when done.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13


After Closing you should go down to your local post office and get a new key for your mailbox (if your mailbox has a lock). You can do this at the same time you set up mail forwarding.

You will usually need to bring down a copy of your deed (which you'll receive at closing) to do this.

Mark this task as complete when done.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13


After Closing you should go down to your local post office and set up forwarding of your mail to your new property address. You can do this at the same time you get your new mailbox key.

You will usually need to bring down a copy of your deed (which you'll receive at closing) to do this.

There will probably be a small fee to do this. I've heard $1.

Mark this task as complete when done.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13


Contact each of your Debit/Credit Card companies and update your address with each one of them.

Mark this task as complete when done.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13


Contact each of your mortgage holders (for other homes and rental properties) and update your address with each one of them.

Mark this task as complete when done.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13


We normally recommend that you put the Utilities in your name on the property you're buying prior to Closing to start the day of Closing. This however should remind you in case you forgot to do that AND, additionally, remind you to update your address with Utilities for properties other than the one you're buying now.

Update your address with all Utilities on the property you're buying and any rental properties you own as well.

Here is a list to help:

  • Gas
  • Water (including any water associations if applicable)
  • Trash
  • Electric
  • Garbage
  • Cable television
  • Internet service provider

NOTE: If you have Tenants or Tenant-Buyers in the property ask to get a Landlord policy for utilities so that your utilities will automatic switch into your name when the Tenant or Tenant-Buyer stops paying or removes them from their name.

Mark this task as complete when done.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13


Update your address with the Insurance Companies that insure your properties (including this one and any rentals), cars and anything else.

Mark this task as complete when done.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13


Update your address with all the places you bank including Banks and Credit Unions.

Mark this task as complete when done.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13


Update your address with all Home Owner's Associations (HOAs) including the property your buying and all your rental properties.

Mark this task as complete when done.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13


Contact each of your employers and update your address with each one of them.

In many cases contacting Human Resources will update everything, but in some cases you may need to contact multiple departments. If you have to contact different departments, be sure to do that. Some examples of different departments might include:

  • Your retirement accounts with your employer
  • your health care account with your employer
  • payroll with your employer

Mark this task as complete when done.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13


Contact each of your Health/Dental Insurance Providers and update your address with each one of them.

Mark this task as complete when done.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13


After you move-in update your address and contact info with the County you live in.

This allows them to send your auto registration to the correct address.

Mark this task as complete when done.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13


Contact each of your IRA, 401K, Investment Account or Retirement Account Companies and update your address with each one of them.

Mark this task as complete when done.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13


Contact all your subscriptions and update your address with each of them.

Some reminders of what you may have include:

  • Cable television
  • Internet Service Provider (ISP)
  • Magazines, newsletters and newspapers
  • Netflix
  • Software subscriptions like Dropbox, Spotify, Apple Music, Evernote, Lastpass etc

Mark this task as complete when done.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13


Notify the friends and family that you want to know where you live of your new address and contact info.

Some clients may opt to use this opportunity to clean up their friends list.

Mark this task as complete when done.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13


If your Tenants and/or Tenant-Buyers are sending rent or giving you notice at your previous home address, then make sure you update each of them with your new address.

Mark this task as complete when done.

Change AddressClosing: Immediately AfterUltimate Nomad ChecklistWeek 13


Read "Closing: Immediately After":

https://learntoberich.com/immediately-after/

Mark this task as complete when done.

ClosingClosing: Immediately AfterUltimate Nomad ChecklistWeek 13


Change the locks or have the current locks on your new property rekeyed.

Some landlords may want to put locks on that allow you to easily rekey the locks between future tenants.

Mark this task as complete when done.

Closing: Immediately AfterUltimate Nomad ChecklistWeek 13


Go to your favorite Home Improvement Store and buy a small fire extinguisher for your new home and put it underneath the sink in the kitchen.

You'll want this for safety reasons yourself if you move in as a Nomad but also for tenants once you move out and convert it to rental.

Mark this task as complete when done.

Buy at Home Improvement StoreClosing: Immediately AfterUltimate Nomad ChecklistWeek 13


Have professional photographs taken of your new property just after Closing while it is still vacant by your Photographer.

You will use these when you market the property for rent and you'll be able to take photos without your personal stuff showing.

Mark this task complete when photos are taken.

Closing: Immediately AfterUltimate Nomad ChecklistWeek 13

Files

You’ll need copies of your closing documents for your taxes.



Mailbox Keys


Reminder About Possession

Most lenders require that if you’re getting an owner occupant loan, that you must move into the property within 60 days of closing.

Notify Tenants

If there are tenants in the property when you purchase, complete these additional steps.

Notify Neighbors

Whether you are renting the property or moving in, it is always a good idea to introduce yourself to the neighbors. Give them your contact info and encourage them to contact you if they notice anything going on with the property or if there is an emergency.

Next: After

See the After process next.

IMPORTANT NOTE: This checklist is based on what I personally use with clients in Northern Colorado and is based on the Colorado Real Estate Commission approved Contract to Buy and Sell Real Estate. Please rely on your local real estate agent for how it works in your local real estate market. This process will definitely vary in different States.

Improvements

In the future, I will be adding/updating/modifying the following:

  • I am working on coverting the static list on this page to be part of the Ultimate Nomad Checklist and Dynamic Checklist system.

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