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Flow Chart: Real Estate Purchase Transaction

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.

Posted by Martin Rodriguez - President on 08/27/2007 02:29 AM

Comments (7)

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7 Comments on Flow Chart: Real Estate Purchase Transaction

AUG

2007

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

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.

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

Thanks.

AUG

2007

AWESOME OVERVIEW!

THANKS

SEP

2007

Martin, can you e-mail me a copy?

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?

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

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