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 |
THE TRANSACTION PROCESS (buying and selling)...
Below is a very
general overview of the buying, selling process. This is in no way a complete
and total depiction...it is just to provide you with a general and fundamental
snapshot of what the process might look like.
|
Buyer |
Seller |
|
|
|
|
1 |
Decides to purchase a home |
1 |
Decides to sell property |
|
2 |
Chooses a real estate agent |
2 |
Chooses a real estate agent |
|
3 |
Establishes wants and needs |
3 |
Establishes needs |
|
4 |
Discusses financial issues |
4 |
Prepares home for marketing |
|
5 |
Researches then tours homes |
5 |
Agent markets the home |
|
6 |
Makes an offer to buy |
6 |
Accepts, rejects or counters |
|
7 |
Offer is Accepted |
|
 |
|
8 |
Loan Preparations |
|
9 |
Inspections Completed |
|
10 |
Title Search Initiated |
|
11 |
Appraisal Made |
|
12 |
Loan Details Finalized |
|
|
|
13 |
Closing Papers are Signed |
|
14 |
Documents are Recorded |
|
15 |
Funds Dispersed |
|
16 |
Seller
Moves Out |
17 |
Buyer
Moves In |
|
|
|
18 |
Everyone got what they wanted and excellent
business relationships have been established |
|
 |
|
