Contract to Closing Process for Buyers

After a purchase contract has been successfully negotiated and signed, there are many tasks to complete. There are document deliveries, inspections, Title details, and mortgage commitments to complete to reach a successful closing.

There are more than 50 specific due dates and tasks on an average transaction checklist. An overview of a few includes:

  • Delivery of documents to the Title company and ordering the Title commitment
  • Deposit of earnest money and delivery of receipt to all parties
  • Assisting with inspections, and coordinating timely completion of inspection items
  • Coordinating timely delivery of documents in case of objections to disclosures, inspection results, or Title commitment issues
  • Coordinating appraisals, appraiser access and any objections to appraisal results
  • Working with the mortgage company and coordinating delivery of documents
  • Assisting with negotiations related to contingencies, inspections, or appraisals
  • Continually monitoring the status of tasks and timelines

and so much more.

There are a number of companies and people involved in a real estate transaction, including surveyors, appraisers, the title company, mortgage brokers, lenders, loan underwriters, both real estate agents, inspectors, and more. Each person has specific duties and requirements, and each is concentrating on doing a good job for you. However, their focus is narrow and targeted on their specific niche in the deal. As your buyer agent, we oversee and coordinate all the people, their tasks, and timelines to ensure nothing is overlooked. We continually monitor those 50+ document items. We check the progress of the contract on a daily basis to ensure everything is moving forward and within contract deadlines. A lot of this activity goes on behind the scenes and you will not be aware of it, as we work to ensure a smooth process.

The Archibald Group is committed to timely follow-up and detailed coordination of every step of the closing process for our clients. It is critical to meet all deadlines and keep the transaction on track to avoid defaulting on any terms of the contract. We will advise and assist you every step of the way in order to keep your real estate transaction on schedule.