Real Estate Contract Review Checklist

Match names on the contract to the pre-approval, driver's license, and (for entities) the operating agreement or corporate resolution. Trusts, LLCs, and 1031-exchange entities are common gotchas — the entity name on the contract must match how title will be taken.

For LLCs, corporations, trusts, or estates, confirm the signer's authority documentation is in file: operating agreement, corporate resolution, certificate of trust, or letters testamentary. Title will require this at closing — gather it now, not the week of funding.

Walk every page. Missing initials on price changes, contingency boxes, or addenda are the most common Dotloop / SkySlope rejection reason. Confirm DocuSign or Dotloop Sign certificate of completion is attached.

Cross-check the legal description, parcel/APN, and street address against the MLS sheet, tax record, and preliminary title. A mismatched legal description is a closing-day disaster — title cannot insure what isn't on the contract.

Pre-1978 homes require federal lead-based paint disclosure, the EPA pamphlet, and the 10-day inspection opportunity (waivable in writing). Skipping this is an EPA fine plus buyer rescission rights.

Confirm the signed federal LBP disclosure form, the EPA "Protect Your Family from Lead" pamphlet acknowledgment, and any inspection-period waiver are in file.

Blank fields are the post-closing lawsuit pattern — buyer discovers prior flooding or a foundation crack the seller "forgot." Walk back to the listing agent on any unanswered material item; "unknown" is acceptable, blank is not.

Confirm purchase price, earnest money amount, option fee (TX), and down payment match what the lender used for the pre-approval. A price change since pre-approval can break the DTI ratio and kill the loan.

Most states require deposit within 3 business days of contract acceptance. Late deposit is a license-law violation. Get the receipt or escrow confirmation into the transaction file.

Loan type drives appraisal rules, repair requirements, and timeline. FHA and VA appraisals can require repairs the seller didn't expect; cash closes faster but still needs proof of funds.

Confirm interest rate, amortization, balloon date, default and cure provisions, and whether a Dodd-Frank-compliant loan originator (RMLO) reviewed the note. Owner-financed deals on owner-occupied homes have specific federal rules that are easy to violate.

Walk through who pays title, escrow, transfer tax, HOA transfer/estoppel, recording, and survey. Confirm seller concessions are within loan-program limits (FHA caps at 6%, conventional varies by LTV) — over-cap concessions get cut at underwriting.

Calculate from the contract effective date and add a 2-day internal buffer reminder. Day-11 objections on a 10-day window waive the buyer's right entirely — the most common preventable contract failure.

Track these as separate milestones, not a single "loan approved" status: appraisal received, appraisal contingency expiration, conditional commitment, and clear-to-close. An expired financing contingency with no executed extension means the buyer's EMD is at risk.

Note kick-out clauses, bump-clause notice periods, and the status of the buyer's existing listing. The listing agent on the buyer's home should be in regular contact with this TC.

Get the MLS link, current list price, days on market, and any pending offers from the buyer's listing agent. If the buyer's home isn't yet active, that's a red flag the seller should know about before the kick-out window starts running.

30 days is tight for FHA/VA, doable for conventional, fine for cash. Confirm with the LO that the dates work given TRID's 3-business-day Closing Disclosure rule — re-disclosure resets the clock.

Capture title/escrow company, file number, escrow officer, and direct phone. This phone number is what the buyer will use to verbally verify wire instructions — do not rely on emailed wire info.

Verify warranty vs. special warranty vs. quitclaim deed, and confirm vesting (joint tenants, tenants in common, community property, trust). Vesting wrong on the deed is expensive to fix post-closing.

CA, FL, and VA among others have statutory delivery windows for HOA documents that trigger buyer rescission rights if missed. Order the estoppel and resale package the day the contract is ratified.

Scan the listing description, agent remarks, and any addenda for protected-class references ("perfect for a family," "walk to church," "safe neighborhood"). Source-of-income discrimination is now a protected class in many jurisdictions — Section 8 acceptance language matters.

Match the file against the broker's standard required-document list in Dotloop, SkySlope, or Brokermint: agency, fair housing, wire-fraud advisory, LBP (if applicable), seller's disclosure, source-of-funds, and any state-specific addenda. Missing items are the standard broker file-review citation.