Steps of The Real Estate Transaction | Donnell Spivey Sr. | EXIT SPIVEY PROFESSIONAL REALTY

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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

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