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Transaction checklist for listing under contract

Pre-Contract Items

Listing Agreement

Signed listing agreement between the seller and real estate organization

Property Disclosures

Completed property disclosure forms filled by the seller

MLS Listing

Property details, photos, and marketing materials uploaded to the Multiple Listing Service (MLS)

Marketing Plan

Implementation of the marketing plan to attract potential buyers

Property Inspections

Coordinate and schedule necessary property inspections

Title Search

Initiate and review title search to ensure clear title

Seller's Disclosures

Collect any additional disclosures required by law or specific to the property

Contract Execution

Purchase Agreement

Signed purchase agreement between the buyer and seller

Earnest Money

Receipt and deposit of earnest money from the buyer

Counteroffers

Review and negotiate any counteroffers made by the buyer

Seller's Concessions

Document any agreed-upon seller concessions

Contingencies

Verify satisfaction of any contingencies outlined in the contract

Contract Deadlines

Note important contract deadlines, such as inspection, financing, and appraisal contingencies

Transaction Management

Escrow/Title Company

Opening escrow and coordinating with the selected title company

Homeowners Association (HOA)

Obtain HOA documents and ensure compliance with disclosure requirements

Financing

Coordinate with the buyer's lender to ensure timely loan approval and funding

Appraisal

Arrange appraisal appointment and ensure the property appraises for the agreed-upon price

Inspections and Repairs

Oversee any required inspections and negotiate repairs between parties

Insurance

Verify buyer's insurance coverage and arrange for seller's insurance cancellation

Closing Preparation

Closing Statements

Review and prepare closing statements for both buyer and seller

Final Walk-through

Coordinate a final walk-through for the buyer to ensure property condition

Closing Documents

Collect and review necessary closing documents, including deed, title insurance, and loan documents

Funding and Disbursement

Arrange for the transfer of funds and disbursement of payments at closing

Closing Date and Location

Confirm closing date, time, and location with all parties involved

Post-Closing

Ensure all necessary documents are recorded and distributed, and address any post-closing matters

Please note that this checklist is a general guide, and the specific requirements and steps may vary depending on the real estate organization, location, and applicable laws and regulations.

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