FROM OFFER TO KEYS

I am a HUGE planner and like to know what is happening… step by step, day to day.  Therefore, I like to provide my clients with a checklist of what they can expect from initial offer to handing over the keys.  This process gets confusing, and Realtors, often use language that is specific to a real estate transaction.  Here is an outline of 26 steps in a typical transaction for you planners out there like me! 

1. Write up Offer
2. Negotiate contract
3. Contract accepted, “mutual acceptance"
4. Send contract to Lender and Escrow
5. Buyer starts the loan process
6. Earnest Money Deposit
7. Buyer inspection - Broker will be present for this appointment
8. Negotiate the inspection results
9. Appraisal ordered
10. Receive escrow package-return immediately
11. Appraisal occurs - Broker will be present for this appointment
12. Appraisal reviewed - possibility you will need to re-negotiate the contract
13. Documents go to Lender for Underwriting
14. Lender may request additional documentation
15. Final conditions from Underwriter (additional bank statements, proof of employment)
16. Final walk through/re-inspection
17. Final Approval from Underwriting-maybe more conditions (#14)
18. Documents from Lender sent to Escrow
19. Escrow draws documents 
20. Signing appointment scheduled with sellers then buyers
21. Sign Escrow documents
22. Escrow sends Lender final signed documents
23. Lender releases (wires) funds - “loan is funded"
24. Escrow records the new owner at the County
25. Transfer of title from Seller to Buyer “recording numbers"
26. Keys are given to BUYER