Flow Chart: Real Estate Purchase Transaction

By
Mortgage and Lending with Pacific Funding
http://actvra.in/459Q

 

For those of you that prefer visual concepts,  I have prepared a simple flow chart that illustrates the key steps involved in the purchase of real estate. 

This illustration is designed to provide buyers with a road map to ownership from begining to end, it is not a detailed list of everything that occurs in a transaction.

I realize there may be some variance from state to state as some states are non-escrow states, but the overall process is generally the same.

If you have any recommedations or see anything that I may have missed please let me know. 

Lastly, If you'd like a PDF copy of this, please feel free to email me.

Click here to view Flow Chart.

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Tags:
how to buy a home
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scv loan solutions
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Rainer
10,721
Nestor N. Romero
HomesByNestor - Norwalk, CT
Realtor - Real Estate Fairfield County - (203)515-5511

Very nice chart, Martin, thank you. It is so much simpler to explain processes via data flows or process diagrams!

I know you mentioned it is not suppossed to be a detailed list, but I was wondering if you could consider adding in your next version:

1. Inspection (another contingencies besides obtaining the loan.)2. In the case the property is a condo or co-op, there are some situations to be considered like having access to the Home Owner's Association regulations or the "Black Book". (Rescission Period).

I am sure others will contribute more ideas.

Best,
Nestor

 

Aug 27, 2007 02:57 AM #1
Rainmaker
244,999
Linda Reynolds
Bradenton Real Estate - Linda Reynolds - Bradenton, FL
Bradenton Real Estate
Great job on the flow chart, this explains very well what the buyer should expect and what order things happen in.  I would like a copy emailed to me if you don't mind.
Aug 27, 2007 06:19 AM #2
Rainmaker
239,115
Brad Snyder
Sierra Vista Realty - Sierra Vista, AZ

Great job..... could be a useful tool when explaining the process to a client.

Thanks.

Aug 27, 2007 08:15 AM #3
Anonymous
Marilyn Grosboll

 

  AWESOME OVERVIEW!

  THANKS

Aug 28, 2007 02:07 PM #4
Rainer
32,196
John Evarts
Classic Property Management of Santa Clarita - Santa Clarita, CA
Martin, can you e-mail me a copy?
Sep 01, 2007 11:41 AM #5
Rainmaker
290,383
Kate Bourland
Marketing with Kate - Redding, CA
Onlilne Marketing Mobile Marketing

Martin, what a valuable resource.  You put a lot of work into this. 

I'm curious, how do you use this as a marketing tool?  When does it come into play with a client or realtor?

 

 

Sep 01, 2007 12:13 PM #6
Rainer
36,817
Martin Rodriguez
Pacific Funding - Valencia, CA
Senior Loan Consultant

Hi Kate.

This flow chart came about as a result of one of my clients that wanted me to diagram the entire process.  So I just drew this up on my computer and began to use it as a reference tool for my clients. 

Thats about it..

Thanks for your comments.
M

Sep 01, 2007 03:12 PM #7
Anonymous
christo

Good morning ,

Can you PLEASE ass me i need a flow chart on the following

IT based activity documentation sending or request information

decision point or gateway where a decision has to be made and the flow can go more than one way

action to be carried out by a person in the organisation

event an action or IT based activity from an external source or carried out by the customer

Aug 28, 2010 05:29 AM #8
Anonymous
Gordon E. Lewis

The flow chart is very enlightening Martin.  Thanks much for sharing it.

Do you know where i can obtain a Critical Path Scheduling Program?

Jan 06, 2011 02:14 PM #9
Anonymous
Gordon E. Lewis

The flow chart is very enlightening Martin.  Thanks much for sharing it.

Do you know where i can obtain a Critical Path Scheduling Program?

Jan 06, 2011 02:14 PM #10
Anonymous
Gordon E. Lewis

The flow chart is very enlightening Martin.  Thanks much for sharing it.

Do you know where i can obtain a Critical Path Scheduling Program?

Jan 06, 2011 02:14 PM #11
Anonymous
Gordon E. Lewis

The flow chart is very enlightening Martin.  Thanks much for sharing it.

Do you know where i can obtain a Critical Path Scheduling Program?

Jan 06, 2011 02:14 PM #12
Anonymous
Ricardo Gutierrez

Martin, I'm really thankful for what you have done.

My Real Estate Finance teacher asked for a flowchart of persons involved in a real estate transaction and yours is just more than accurate and informative.

Mind if you send a PDF to my e-mail address please?

Thanks, and keep the good work.

Feb 11, 2011 05:15 PM #13
Anonymous
Lupita

Martin,

Hi !

I am in charge of developing the flow charts for a real etate office, and I found yours, it's very accurate. I am wonering if you still have it and can send it to me via email.


Thanks.

Sep 26, 2012 08:46 PM #14
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Martin Rodriguez

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