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Transaction Flow Checklist |
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(This is designed around a traditional transaction) |
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Meet with Realtor Robert to discuss
your needs,
wants and goals |
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Visit with Lender about potential loan programs that coincide with goals |
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Based on communications with Lender, obtain your
prequalified amount |
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Supply Lender supporting documents based on prior conversation |
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Obtain Pre-Approved status from Lender |
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Agent to review potential homes within your wants, needs, goals and approved amount |
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Realtor to coordinate, schedule and show you appropriate listings |
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Discuss terms of selected home, review and sign an offer to purchase |
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Complete initial negotiations or repeat prior three steps |
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Realtor to open Escrow and order Preliminary Title Report |
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Realtor to coordinate, schedule and provide access to buyers Home Inspector |
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Review Preliminary Title Report with Buyers |
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Review Home Inspection Report, re-enter negotiations if necessary |
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Realtor notifies Lender to proceed with ordering appraisal |
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Lender compiles all necessary documents with appraisal for underwriting |
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Underwriter reviews Lenders Package for completeness |
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Lender orders Docs to be issued and sent to Escrow officer |
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Escrow works up HUD-1 Statement in accordance with contract and Lender Instructions |
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Realtor to coordinate and schedule a buyer signing time with Buyers and Escrow |
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Escrow sends signed documents back to Lender for verification |
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Lender wires loan funds to Escrow Company |
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Once Buyer's and Seller's sign all docs and have received all funds escrow records Deed |
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Keys are released to Buyers |
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Congratulations!!! Hope it all went smooth! |