From Contract Acceptance to Closing taught by Cathy McDaniel

Contract Acceptance to Closing
Best Practices in Contract Management

Contracts define the transaction details commitments and obligations among many parties, so managing a contract through its completion is critical.

Contract management involves reviewing, analyzing and implementing a strategic plan to ensure accurate tracking and the fulfillment of contractual obligations. No two contracts are the same. So, it’s with know-how, expertise, helpful techniques and due diligence ability to get the details right” that will exceed your client’s expectations.

From the time the contract is accepted you will want to be organized to identify the time sensitive performance requirements.  

Congratulations! A seller has accepted the buyer’s offer. The real estate closing process can be very intimidating. 

What to do between contract and closing! Once a contract has been signed, there are many steps that need to happen between the contract and closing for both listing and selling real estate practitioner and the seller and buyer. 

Let’s discuss disclosures, contingencies, inspections, and the mortgage process, an overview of the new CFPB closing procedures; the buyer and seller’s responsibility. Keep in mind the contract has time sensitive performance requirements and the buyer’s earnest money is subject to forfeiture. 

Let’s take a look at a pre-closing and a closing checklist for the seller and buyer. 

Sponsor:  Jan Townley | jantownley@atlanticbay.com