After a bit of negotiation, the seller may formally accept your offer, bringing you one step closer to owning the property. This acceptance typically includes a signed purchase agreement confirming the agreed-upon price and deadlines. Once the offer is accepted, timing becomes crucial; the Transaction Coordinator steps in to establish a timeline for key tasks, such as depositing earnest money and scheduling inspections. Clear communication among agents, lenders, and title professionals is essential to keep everything running smoothly. Having a dedicated coordinator helps you stay organized, maintain compliance with contract dates, and ensures that no critical detail is missed.

Earnest Money (EM) is a deposit made to demonstrate good faith in purchasing the property. Once your offer is accepted, you’ll typically have a few days to deposit these funds with the escrow or title company. Your Transaction Coordinator confirms the required amount and provides clear instructions for wiring or delivering the check. Prompt delivery of EM solidifies your commitment, while failure to meet this timeline can jeopardize the contract. Once deposited, your EM is held in a neutral account until closing. This step underscores your seriousness as a buyer and helps build trust with the seller.

After the contract is executed and earnest money is secured, the next step is to open title with a title company. This company researches the property’s ownership history, liens, or other encumbrances that might affect the transfer. The Transaction Coordinator collaborates with the title company, providing documentation and ensuring the initial title search is accurate. Should issues arise—like outstanding liens or unclear ownership—the coordinator assists in resolving them promptly. Opening title is crucial because it confirms the seller’s legal right to convey the property, and it ensures a clear path toward a smooth closing process.

A thorough home inspection reveals a property’s condition and identifies potential issues—like structural damage, plumbing concerns, or faulty wiring—before you finalize the purchase. You’ll hire a professional inspector who will examine the property and deliver a detailed report. This information can influence your decision to move forward, renegotiate price, or request repairs. Your Transaction Coordinator monitors deadlines for the inspection contingency, ensuring you have ample time to review the report and respond. By addressing any red flags early, you prevent last-minute surprises and can proceed with greater confidence, whether you request repairs or accept the home as-is.

An appraisal is typically required by your lender to validate the home’s value relative to the amount of the mortgage. An appraiser, independent from the lender, evaluates the property’s features, condition, and comparable sales in the area. If the property appraises at or above the purchase price, the transaction proceeds smoothly. If it appraises below the purchase price, you may need to renegotiate or cover the difference. Your Transaction Coordinator tracks the appraisal appointment, ensures the appraiser has access to the home, and keeps you updated on the results. This step confirms the lender’s confidence in the property’s value.

With appraisal and inspection steps underway, you’ll formally engage in the loan process with your lender. This involves submitting financial documents, finalizing the type of mortgage, and locking in your interest rate if desired. Underwriters then review everything to ensure you meet the lending criteria. During this time, your Transaction Coordinator remains in close contact with the lender, verifying that all deadlines are met. They also field lender requests for additional documents or clarifications, helping to streamline communication. By staying organized and proactive, you can expedite loan approval and keep the transaction on track toward closing.

A title commitment is an official document from the title company that outlines the preliminary findings of the title search, such as ownership history, restrictions, or liens. It indicates what must be done to provide you with clear title at closing. Your Transaction Coordinator will review this report alongside your real estate agent and lender to check for any red flags. If title defects are discovered, the coordinator helps coordinate resolutions, like removing liens or clarifying easements. By clearing these items ahead of time, you can proceed confidently toward final approval and a seamless transfer of ownership.

“Clear to Close” (CTC) is the golden phrase indicating that all title conditions are met and the lender is ready to proceed. Once you receive the CTC from the title company and lender, it’s a signal that every critical piece of documentation has been reviewed and approved. This step ensures there are no outstanding title issues or loan conditions. Your Transaction Coordinator celebrates this milestone with you, but also remains vigilant: scheduling closing dates, confirming closing times, and making certain all parties—buyers, sellers, and agents—are aware of any final requirements for the big day.

A preliminary Closing Disclosure (CD) outlines the final mortgage terms, closing costs, and other important financial figures you’ll see at signing. By law, lenders must give you the CD at least three business days before closing, allowing time to review and resolve any discrepancies. During this waiting period, your Transaction Coordinator makes sure you understand each cost line, from lender fees to prorated taxes, and identifies anything that needs clarification. Receiving the preliminary CD helps you avoid surprises at closing, empowers you to ask questions in advance, and ensures greater peace of mind when you sign the final documents.