REAL ESTATE TRANSACTION OVERVIEW*
Owner lists property for sell with a real estate Broker/FSBO.
A Buyer makes an acceptable offer.
Buyer hires engineer/inspector.
Seller's attorney drafts the initial contract of sale.
Seller's attorney and Buyer's attorney negotiate the contract terms.
Buyer's attorney meets with his client(s) for the "contract signing."
Executed contract and Down payment are forwarded to Seller's attorney.
- Buyer receives an executed copy of the contract to obtain a loan ("comittment letter").
- A title search & survey are conducted.
- A closing date is set.
- Parties meet to close the transaction.
*The above is merely a summary of a real estate transaction. Every real estate transaction is unique. Additional or different steps may be required to close a particular transaction.