How a real estate transaction works: buyer and seller edition

Are you buying your first home or selling your existing one and want to know what to expect after you go under contract? The real estate transaction can be broken down step by step to make it a little easier to understand. 

For Buyers: What to expect after your offer is accepted

• Send the earnest money deposit to the title company to be held in escrow
• Complete home inspections within the inspection period timeframe  
• Work with your lender to submit your loan application and get loan approval
• Do a final walk through of the house right before closing day
• Sign closing documents and move in

For Sellers: What to expect after you accept an offer on your home 

• Provide required documents to the buyers within the timeframe in the contract
• Coordinate schedules to allow for home inspectors, appraisers, property surveyors, etc. to get access to your house.
• Cooperate with the title company to resolve any title defects
• ​Sign closing documents and move out