Steps of The Real Estate Transaction

STEPS OF THE REAL ESTATE TRANSACTION | FROM THE CONTRACT TO CLOSE 

• Write up Offer 

• Contract Negotiated 

• Contract Accepted 

• Contract sent to Lender & Escrow Company 

• Earnest Money Deposit 

• Buyer’s Inspection period 

• Negotiation of Inspection 

• Appraisal Ordered 

• Receive Escrow Packet – Return ASAP (Possible ID affidavit request) 

•  Appraisal takes place-possible conditions 

•  Document go to Lender for Underwriting  

•  Lender may request additional verification of documentation 

•  Final conditions from Underwriter i.e. bank statements, proof of employment 

•  Final walk through/re-inspection 

•  Final Approval from Underwriter/Possible final conditions 

•  Documents drawn by lender & sent to Escrow 

•  Escrow works up your documents  

•  Signing Appointment set by Escrow-expect a call