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From contract to closing there will be a lot of “behind the scenes” work going on after the offer is accepted and you are “under contract”. You, your Realtor, Lender and the Title Company will work closely together to ensure a smooth transaction and successful closing. The following is an overview of this process:

● Your Realtor will deliver final copies of the contract to the Lender, the other agent, the title company and you.
● You will finalize your loan application and get any documents to the lender so they can process your loan and get it to underwriting.
● DO NOT open ANY lines of credit until after your closing unless you have discussed it with your lender in DETAIL. ● This could have a very ADVERSE effect on your loan. Credit reports are often checked just before closing to confirm that nothing new has happened that would affect your ability to repay the loan.
● Your Realtor will help you schedule the home inspection and prepare any necessary amendment for repairs.
● Your Realtor will coordinate with the other agent in ordering a survey and termite inspection.
● Your Lender will order a real estate appraisal once the Option Period is over.
● Once the appraisal is received, the Lender will prepare the loan file and send it to underwriting. The underwriter will review the file and send back a list of conditions that must be met before funding can occur. Your Lender will make you aware of anything needed from you.
● An appointment for closing will be scheduled with the title company.
● A final walk-through will occur just before closing to ensure the property’s conditions is acceptable to you.
● The title company will meet with both parties ( usually separately) to go over closing documents and finalize the transaction.
● YOU ARE A NEW HOMEOWNER!