Seventeen Steps to Selling Your Home

1. Buyer and Seller reach contractual agreement, with Buyer's option check delivered to Seller.
   
   
2. Selling Agent delivers contract and buyer's earnest money check to title company, and earnest money is deposited into trust account with title company.
   
   
3. If purchased by Buyer, unrestricted right to terminate begins day after effective date of contract.
   
   
4. Buyer orders any property inspections.
   
   
5. Title company opens file, begins title search, issues title commitment binder to Buyer's lender, orders property tax information, and obtains loan pay-off information from Seller's lender.
   
   
6. Buyer makes loan application (if loan involved); appraisal and credit report are ordered and Buyer verifications processed.
   
   
7. Buyer orders homeowner (hazard) insurance policy; insurance company commits to insure.
   
   
8. Coordinate expiration of Buyer's option period and any proposed repairs and Amendment.
   
   
9. Appraisal of property completed; verify any lender-requirements of property and re-inspections.
   
   
10. Lender prepares Buyer's loan package and submits for final underwriting approval.
    
    
11. Loan approval granted and lender's closing department prepares documents and sends to title company.
    
    
12. Verify Buyer's loan approval; any lender-required conditions to be met by Buyer; survey ordered by title company.
    
    
13. Buyer and Seller agents coordinate closing date and time with Buyer, Seller, and title company.
    
    
14. Title company receives lender's closing instructions, prepares additional closing documents, and the closing statement.
    
    
15. Buyer does final walk-through inspection of property and obtains cashier's check for closing costs and balance of down payment.
    
    
16. Title company closes the sale, returns or faxes required documents to Buyer's lender for approval. Most loan companies require this before disbursement of funds (to seller). The title company receives and funds all money from lender, including payment of all past due taxes, termite inspection, mechanical inspections, any bank charges, attorney's fees, professional real estate fees, title company fees and any other accrued expenses in connection with the closing - (title company records the legal documents in the office of the county clerk, and a recorded deed is mailed to Buyer by County Clerk; title company prepares and issues title policy and sends to lender and owner).
    
    
Possession given to Buyer.