Use this checklist after a flip sells to review the documents, late costs and open questions attached to that property. It is a bookkeeping worksheet for your project handoff; tax and legal decisions require separate advice.
The working checklist
| Area | What to record or check |
|---|---|
| Property ID | Use one identifier from acquisition through sale. |
| Acquisition | Closing statement, earnest money, wire confirmation, funding records. |
| Rehab | Invoices, receipts, approved allocations, unpaid bills. |
| Holding activity | Recurring account activity and supporting documents. |
| Sale | Closing statement, proceeds deposit, payoff and fee support. |
| Closeout | Late bills, unresolved items, review date, assigned owner. |
Review the property before archiving it
Compare the sale statement with the proceeds received and the supporting payoff records. Then check with the project contact for supplier bills, utility activity or refunds still expected. A sold status in your project list does not by itself mean that every bookkeeping item is complete.
Keep a short closeout log
For each outstanding item, write the property code, amount if known, document needed, person following up and next review date. Label the package preliminary while those items remain open. When new evidence arrives, retain the earlier document and record what changed in the revised package.