Happy homeownership month! Tackling the purchase or sale of a home may seem daunting, but when broken down into the various steps, it becomes a little easier to digest. As a buyer or seller, you probably won’t fully understand everything that occurs and that’s completely fine. Your real estate agent, title agent, and lender are there to help.
It’s important to have a general understanding of each phase, though, so you’re not hit with any major surprises. A real estate transaction is an intensive and time-consuming process so having a foundational understanding will allow you to ask the right questions along the way.
There are really two halves of the real estate transaction that can help you view it a little differently: the sales process followed by the contract-to-close process. Beyond that, we’ve broken the entire lifecycle of a real estate transaction into 10 steps outlined below.