From Accepted Offer to Day One

Acquisition Closing Checklist

Investor Checklist · Author: Austin Coon

This checklist is built for buying a property you plan to renovate and rent, but it works for any strategy. Delete what does not apply, add what does, and keep it in the property’s folder.

1. Contract to closing

  • Offer accepted, and earnest money delivered (amount, date, receipt).
  • Inspections scheduled and appraisal ordered.
  • Title company opened a file, and attorney review completed if you are using one.
  • Title commitment reviewed and insurance binder issued.
  • Final walkthrough and closing date confirmed.
  • Closing disclosure reviewed, wiring instructions verified by phone, and funds to close sent.

2. Utilities and services

Around Indianapolis, electric is typically AES Indiana, and gas, water, and sewer are typically Citizens Energy Group. Confirm providers for your address.

  • Electric and gas put in the owner’s name, with account and meter numbers recorded.
  • Water, sewer, and trash service confirmed.
  • Electrical inspection scheduled if power has been off a long time.

3. Rehab kickoff

  • Sewer scope, septic, or well test completed.
  • Contractor walkthroughs scheduled and scope of work written.
  • Rehab timeline drafted and bids selected with signed contracts and start dates.
  • Permits applied for, and contractor insurance certificates on file.
  • Demo crew and dumpster booked for the day after closing.

4. Systems and records

  • Locks changed on closing day.
  • Before photos and video taken on closing day (see tip below).
  • Digital folder created, and the property added to bookkeeping with its own bank account or class.
  • Property and units added to management software or sent to your manager.
  • Rental registration completed if required, and existing leases or estoppels collected if occupied.

Before photo tip

Take at least two angles of every room. Then shoot one continuous video: start outside, walk in, go floor by floor, and keep rolling as you exit. Save everything in a folder named Before Photos. You will want it for insurance, your appraiser, and your own marketing.

5. Unit details

Capture these once per unit and you will never have to drive over to answer a contractor’s question again: name on deed, bedrooms, bathrooms, square feet, heat and A/C source, water heater and furnace location, electrical panel location, main water shutoff, flooring by room, washer and dryer hookups, appliances included, and roof type and age.

Common questions

Does this checklist only work for rehab projects?

No — it is built with a renovate-and-rent purchase in mind, but every section applies to a straightforward buy-and-hold. Just skip the rehab kickoff section if there is no work planned.

Why take a full walkthrough video on closing day?

A continuous video from the moment you own the property protects you with insurance, gives your appraiser a clean record, and doubles as before-and-after marketing once the work is done.

Want to run this with Austin?

Bring your address, your numbers, or just your questions — Austin works through them with you before you\u2019re committed.