Real Estate Spring Hill The Process Of A Real Estate Transaction

The Process of a Real-estate Transaction

Seller-Sellers Realtor

Offer Presented- The Buyers Realtor presents the offer to the seller’s realtor who relays it to the seller.

Seller’s Disclosure- The seller is required to disclose any and all issues that may affect the value of property.

Purchase Negotiation- Throughout their respective realtors, the sales price and the terms are negotiated by the buyer and seller; as well as other requests such as appraisals, inspections, and attorney reviews.

Good Faith Deposit- Once the terms are agreed upon, the buyer gives a good faith deposit to “seal the deal.” The deposit is held in escrow until it is applied to the down payment.

Executed Sales Agreement

Loan Application Processed- Lender processing the loan application from the buyer, Conducts a review of credit report, down payment sources, employment, property, appraisal, ect.

Title Search- While the loan processes, the closing agent confirms seller has full right to sell property. Also establishes facts or any restrictions on the property. Also establishes facts or any restrictions on the property. Also establishes facts or any restrictions on the property on the property and its uses.

Contingencies Satisfied- Once the financing process, the closing agent confirms seller has full rights to sell property. Also establishes facts or any restrictions on the property and its uses.

Closing Documents Issued- Lender provides the estimate of the loan and the closing disclosure documents outlining all the terms and costs.

Final Walk-Through- The buyer confirms that the home is in the same condition as when the purchase order was signed typically 1-2 days before closing.

Closing- The buyer and seller sign the final documents to finalize the sale.

Buyer- Buyer’s Realtor

Loan evaluation- Buyers are encouraged to apply to at least three reliable lending sources to help them know how much they can afford to spend at the best interest rate possible and how much it will cost them.

Offer Presented- The buyer’s realtor presents the offer to the seller’s realtor who relays it to the seller.