Real Estate Transaction Checklist

Post-NAR settlement, most states require a written buyer agreement before showings. Capture compensation terms, exclusivity, and term length. Have the buyer sign before the first substantive showing — not at offer time.

Most state license laws require agency disclosure at first substantive contact. Skipping this is a common file-review citation. Save the signed form to the transaction file in Dotloop or SkySlope.

Treat pre-approval as conditional, not final — the milestones are pre-approval, conditional commitment, and clear-to-close. Confirm loan type (conventional, FHA, VA, USDA, jumbo) and any DPA programs that affect seller concessions or appraisal handling.

Use Cloud CMA or RPR with comps from the last 90 days; older comps mislead in a moving market. Note days-on-market trend, list-to-sale ratio, and seasonality before recommending offer price.

Post-NAR settlement, buyer-agent compensation is no longer published in MLS. Confirm with the listing brokerage in writing before drafting the offer — assumed splits get disputed at closing. If the seller will not pay, surface the gap with the buyer now, not at the table.

Use the state-approved form in zipForm Plus or TransactionDesk. Set inspection, financing, and appraisal contingency periods deliberately — not just the form defaults. For TX deals, set the option fee and option period explicitly.

Track each round in writing. Walk the buyer through price, concessions, closing-date, and contingency trade-offs together — concessions cap differently by loan type (FHA caps at 6%, VA varies, conventional varies by LTV).

Most states require deposit to broker trust within 3 business days of contract acceptance. Late deposit is a license violation. Verify the wire instructions verbally to a known phone number — never act on emailed wire PDFs.

Walk the buyer through the disclosure line by line — blank items the seller actually knew about are the basis of post-closing lawsuits. Flag anything inconsistent with what the listing or showing surfaced.

Pre-1978 homes require the federal lead-based paint disclosure, the EPA pamphlet, and a 10-day inspection opportunity unless waived. Missing this triggers EPA fines and buyer rescission rights.

Send the federal LBP disclosure and EPA's Protect Your Family pamphlet. Document the buyer's election to either exercise or waive the 10-day inspection window in writing.

States like CA, FL, and VA have statutory delivery windows for HOA documents that, if missed, give the buyer rescission rights. Place the order through the management company on day one of contract — turnaround is often 10-14 days.

Book within the first half of the inspection contingency period to leave room for specialist follow-ups (sewer scope, radon, mold, pool, septic). Confirm seller utilities are on before inspection day.

File before the inspection contingency expires — submitting day 11 on a 10-day period waives the buyer's right and is one of the most common preventable losses. Set a calendar reminder with a 2-day buffer.

Get the resolution signed before the contingency deadline — repairs, credits at closing, or buyer concession to proceed. Lender-required repairs (FHA/VA) need to be flagged here so the appraiser sees them.

If the appraisal comes in low, the buyer's choices are: bring the gap in cash, renegotiate price, dispute with comps, or walk on the appraisal contingency. Flag immediately — do not let the financing-contingency clock run while you wait.

Document the resolution in an amendment: price reduction, buyer brings cash, split the gap, or a combination. Confirm the lender's underwriter accepts the amended price on the same loan terms.

Check Schedule B for liens, easements, encroachments, and HOA assessments. File written objections within the title-review period; unobjected items become exceptions to the buyer's owner's title policy.

Pre-approval, conditional commitment, and clear-to-close are three different milestones — track each. If the financing-contingency date approaches without CTC, draft an extension before it expires; expired contingencies can cost the buyer their EMD.

TRID requires the CD in the buyer's hands at least 3 business days before consummation. Material changes (APR, loan product, prepayment penalty) reset the clock. Match line items against the ALTA settlement statement before the buyer signs.

Buyers wiring down payment to spoofed instructions is one of the most devastating losses in this business. Tell the buyer in writing and again by phone: verify wire instructions verbally with escrow at a known number, never act on emailed PDFs, and never on instructions that change at the last minute.

Confirm agreed-upon repairs are completed, all included fixtures remain, and the property is in the contracted condition. Document anything off with photos and notify escrow before signing.

Upload all signed disclosures, the ratified contract, addenda, EMD receipt, CD, and recorded deed to Dotloop or SkySlope for broker compliance review. Missing agency or fair-housing disclosures are the most common citations.

Most MLSs require status changes within 24-72 hours of closing. Verify the sold price and concessions match the settlement statement — wrong comp data triggers MLS fines and corrupts future CMAs.

Move the contact into the post-close nurture campaign in Follow Up Boss or kvCORE — 30-day check-in, 6-month, annual home anniversary. Past-client referrals are the highest-converting lead source in the pipeline.