Real Estate Transaction Planner

Step-by-step guide through every stage of a real estate transaction — from listing to closing. Track your progress with interactive checklists.

8 Steps 30–90 Day Process Buyers & Sellers

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Listing

⏱ 1–4 weeks

Not Started

Prepare and list the property on the market. This stage covers pricing strategy, staging, photography, and MLS listing.

✅ Key Actions

Hire a listing agent or choose FSBO
Get a comparative market analysis (CMA)
Stage and deep-clean the property
Hire a professional photographer
Set listing price and terms
List on MLS and major portals (Zillow, Realtor.com)
Schedule open houses

⚠️ Common Pitfalls

Overpricing — leads to extended DOM and price reductions
Poor listing photos — biggest first impression mistake
Not disclosing known defects up front

📁 Documents Needed

📄 Listing Agreement
📄 Property Disclosure Form
📄 CMA Report
📄 HOA Documents (if applicable)

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Offer

⏱ 1–7 days

Not Started

Buyer submits a written purchase offer. Seller reviews and may accept, reject, or counter.

✅ Key Actions

Buyer gets pre-approval letter
Submit purchase offer with earnest money amount
Include contingencies (inspection, financing, appraisal)
Set offer expiration date
Seller reviews and responds

⚠️ Common Pitfalls

Waiving contingencies in a hot market without understanding the risk
Low earnest money signals weak commitment
Missing offer deadline windows

📁 Documents Needed

📄 Purchase Offer / Purchase Agreement
📄 Pre-Approval Letter
📄 Earnest Money Check

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Negotiation

⏱ 1–5 days

Not Started

Both parties negotiate price, terms, contingencies, closing costs, and possession date until mutual agreement.

✅ Key Actions

Review counter-offer terms carefully
Negotiate repairs or seller concessions
Agree on closing date and possession timeline
Finalize contingency periods
Get mutual acceptance in writing

⚠️ Common Pitfalls

Letting emotions drive decisions
Not reading the fine print on concessions
Pushing too hard and losing the deal

📁 Documents Needed

📄 Counter-Offer Addendum
📄 Mutual Acceptance / Executed Contract

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Contract

⏱ 1–3 days

Not Started

Fully executed purchase and sale agreement is signed. Earnest money is deposited into escrow.

✅ Key Actions

Both parties sign the purchase agreement
Deposit earnest money into escrow within deadline
Confirm all contingency deadlines on calendar
Open escrow with title company
Order title search

⚠️ Common Pitfalls

Missing earnest money deposit deadline (can void contract)
Not tracking contingency dates precisely
Failing to read all addenda and riders

📁 Documents Needed

📄 Signed Purchase & Sale Agreement
📄 Earnest Money Receipt
📄 Escrow Opening Instructions

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Inspection

⏱ 7–14 days

Not Started

Licensed inspector examines the property. Buyer reviews report and can request repairs or credits.

✅ Key Actions

Schedule general home inspection within deadline
Consider additional inspections (roof, pest, sewer, radon)
Attend inspection if possible
Review inspection report thoroughly
Submit repair request or credit request to seller
Negotiate inspection resolution

⚠️ Common Pitfalls

Skipping specialist inspections (sewer scope, foundation)
Over-requesting minor repairs — seller may cancel
Missing the inspection contingency deadline

📁 Documents Needed

📄 Inspection Report
📄 Repair Request Addendum
📄 Inspection Resolution Agreement

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Appraisal

⏱ 7–14 days

Not Started

Lender orders an independent appraisal to confirm the propertys value meets or exceeds the purchase price.

✅ Key Actions

Lender orders appraisal (buyer pays)
Appraiser visits property
Review appraisal report
If low appraisal: renegotiate price, pay difference, or dispute
Appraisal gap coverage if needed

⚠️ Common Pitfalls

Low appraisal with no gap coverage contingency
Not having comps ready to challenge a low appraisal
Delays from appraiser scheduling backlog

📁 Documents Needed

📄 Appraisal Report
📄 Appraisal Gap Addendum (if needed)
📄 Lender Appraisal Instructions

🏦

Loan Approval

⏱ 14–21 days

Not Started

Underwriter reviews complete loan file. Buyer satisfies all conditions and receives clear-to-close (CTC).

✅ Key Actions

Submit all requested documents to lender promptly
Avoid large purchases or new credit accounts
Lock in interest rate
Respond to underwriter conditions quickly
Receive clear-to-close (CTC)
Review Closing Disclosure (CD) — must receive 3 days before closing

⚠️ Common Pitfalls

Opening new credit lines before closing
Job changes during underwriting
Large unexplained deposits in bank account
Not reviewing CD vs Loan Estimate for changes

📁 Documents Needed

📄 Loan Estimate
📄 Closing Disclosure (CD)
📄 Clear-to-Close Letter
📄 Homeowners Insurance Binder

🔑

Closing

⏱ 1 day

Not Started

Final step. Documents are signed, funds are transferred, title changes hands, and keys are delivered.

✅ Key Actions

Complete final walkthrough 24 hours before closing
Wire closing funds (avoid wire fraud — verify instructions by phone)
Bring valid government-issued ID
Sign all closing documents
Pay closing costs
Receive keys and garage openers
Record deed with county

⚠️ Common Pitfalls

Wire fraud — always verify wire instructions by phone
Not doing a final walkthrough
Funds arriving late — wire early
Signing without reading (review everything)

📁 Documents Needed

📄 HUD-1 / Closing Disclosure
📄 Deed
📄 Title Insurance Policy
📄 Promissory Note & Mortgage/Deed of Trust
📄 Bill of Sale

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Tip: Track with Tabs

Open this planner in one browser tab while working. Your progress saves automatically to this browser.

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Also see: Closing Checklist

Use the dedicated Closing Checklist for detailed buyer/seller/agent breakdowns.

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