Steps For A Buyers Real Estate Transaction

Dated: October 1 2015

Views: 423

Once you have met with your Agent, signed the Agent's Office buyer's agreement, Pre-approved by Lender, find your dream home, complete offer paperwork, Offer gets executed,  then the fun begins!!!!

1. Buyers and Sellers – Sign Earnest Money Contract 

2. Agent – Delivers Contract to title company with Earnest Money Check 

3. Title Company- Opens file and orders title search and tax information 

4. Buyer – Applies for Loan 

5. Lender – Orders Appraisal 

6. Buyer – orders Termite and mechanical Inspections 

7. Title Company – reviews title commitment for title issues 

8. Title Company – obtains pay off information from the seller’s lender 

9. Title Company – issues title commitment to buyer and buyer’s lender 

10. Buyer – orders homeowner’s insurance policy 

11. Buyer’s Lender – received loan approval 

12. Escrow Officer – sets closing date and time at title company 

13. Title Company- receives loan closing instructions from buyer’s lender and preparesnecessary documents and closing statements 

14. Closing takes place 

15. Title Company – submits documents to Lender for approval. Funds are distributed 

16. Title Company – received funds; disbursing to seller’s loan, taxes, bank charges,attorney fees, title company fees and any other created during closing. LegalDocuments recorded with County Clerk Office. Title Policy is created and sent to lenderand owner.
Kimberly Mauldin, Realtor, ABR® 0635045
Accredited Buyer's Representative
214 682 2771 Cell/Text Ivy League Realty 

Approved office for listeners of Dave Ramsey and Glenn Beck Shows

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Terry Ivie

Texas Real Estate Consumer Protection Notice

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