| The Buyer: |
The Seller: |
| |
| Decides to purchase a home |
Decides to sell a house |
| Selects a Real Estate agent |
Selects a Real Estate agent |
| Determines needs and wants |
Determines needs |
| Becomes pre-approved |
Lists house for sale |
| Looks for a home to purchase |
Prepares house for sale |
| Selects home |
Agent markets house |
| Writes Purchase Agreement |
Receives Buyer's offer |
| Purchase offer is negotiated and agreed to by buyer and seller |
| Home inspection |
|
| Loan application |
|
| Title search |
|
| Home appraisal |
|
| Loan approval |
|
| Closing papers are signed |
| Documents are recorded |
| Funds are paid to mortgagor |
Funds are available to seller |
| Buyer moves into new home |
Seller vacates house |