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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®



 
 		  

Keep the Transaction on Track
  Advanced Tip
  Advanced Tip
  Advanced Tip
  Broker Tip

Getting to Close
  Advanced Tip

Mortgage Basics
  Advanced Tip
  Advanced Tip
  Advanced Tip

Inspections and Repairs
  Broker tip

Closing Countdown
  Advanced Tip

Going for the Close
  Advanced Tip
  Advanced Tip
  Advanced Tip

Commission Disbursements
  Broker Tips
  Broker Tip

Post-Closing Strategies

Quiz: Contract to Close

Bright Ideas: Contract to Close

Code of Ethics: Contract to Close

More Resources: Contract to Close

  KEEPING THE TRANSACTION ON TRACK

Buyers' Progress Checklist

Give the buyers a checklist for their responsibilities during the transaction.
Task
Initiation Date
Target Completion Date
Actual Completion
Escrow instructions prepared      
Deposit to escrow      
Loan application       
Appraisal      
Survey      
Credit report Inspections (radon, lead, home condition, earthquake, termite)      
Employment verification      
Financial verification      
Homeowners’ insurance ( plus flood insurance, if applicable)      
Loan commitment      
Arrange for utility accounts      
Final walkthrough      























































Salesperson's Progress Checklist
Use this checklist to track your responsibilities during the transaction.

Task
Initiation Date
Target Completion Date
Actual Completion
Notify MLS of sale      
Cancel advertising      
Prepare list of comparables for appraiser       
Post sold sign      
Remove lockbox      
Purchase closing gift      


































Portions adapted from The Seller Solution, Walter Sanford, Sanford Systems and Strategies, Kankakee, Ill.

TIP: Ask the sellers permission to keep the keys so you can let the appraiser and home inspector view the property.

Time Estimates for Delays >