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Real Estate Checklists


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									           PE N SC O T RUS T C OMPANY
           w w w .pen
                                                                            Rea l Estate Purcha se
                                                                                         Check list

1. The accountho lder must read, app rove and sign all documents before forwarding them to PENSCO Trust
   for the custodial signature. The signed documents will then be returned, along with the funds, to the
   recipi ent indicated on the Pay ment and Funding Instructions form.

2. A l l docu ments m us t be ve s t ed as f ol l ow s :
     For IRAs: PENSCO Trust Company Custodia n FBO ‘Accountholder Name’ IRA
     For Solo(k)s: PENSCO Trust Company Custodia n of ‘Plan Name’ FBO ‘‘Accountholder name’

3. When a purchaser’s Tax ID or physi cal address is required on documents,
   use PENSCO Trust Company’s information:
   Tax ID: 02-052663 3
   Address: PENSCO, Inc., 560 Mission Street, St. 1300, San Francisco, CA 94105-2907
4. We re qu ire an in de pe n de nt e sc r o w.

5. If fun din g is do n e via wir e , doc u m e nt s t hat need t o be signed will be ret u rned by overnight deliver y
   ($18 f e e ) u n less ot he r in st r uc t ions ar e indicat ed o n t he P ayment and Fu nding Inst ru c t io ns for m.

6. $500 mi n imu m balanc e is r e qu ir e d in ac c ou nt (in addition to fu nding, wire, and o vernight fees).

  A l l docu m en t s may be e-mailed to r ea l es t at e@pen s co . co m or
  f axed to 415 -956 - 3016 , A ttn. Rea l Es t at e Depa r tm en t .

Proce ssing Requ irements and Docu mentation

  To make initial earnest depo sit:

Note: IRS rules do not allow the use of personal, non-IRA funds for deposits.
1. PENSCO’s Non-Pub lic Inve stment Authorization form (spec ify pu rc hase pric e)
2. PENSCO’s Pay ment and Fund ing Instructions form (spec ify ex ac t depo sit amo u nt requ est ed)
3. Purchase contr act

  For closing:

Items 1 - 3 above , plus the following:
4. PENSCO’s Payment and Funding Instructions form (specify exact amount needed for closing)
5. Estimated closing statement
6. Preliminary title report
7. Proposed deed (vesting instructions above; Overview #2)
8. Loan documents (if appli cabl e)
9. Closing documents (if appli cabl e)

Note: If you obtain financing, it must be non-recourse to the account, with no personal guarantee by the
accountho lder. Financing may require you (the accountho lder) to report Unrelated Debt Financed
Income (UDFI) and file a 990 T Form. You will want to find a CPA or tax professional who is familia r with this
form to assis t you.

If you have any questions, please contact Client Services at 800-969-4472.
You may f i nd al l of t he above f or m s at : w w w. pen scotrus t .com / f orms

TC-REC-08-0511             Investment products: Not FDIC insured • No bank guarantee • May lose value                P ag e 1 of 1

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