Listing Agent Contract-to-Close Checklist

Task

When Done

As soon as contract is signed 

Submit contract and earnest money to title/escrow company (if not completed by buyer’s agent) and obtain receipt Date specified in contract 

Deliver earnest money to title or escrow company or seller (depending on state)

Coordinate inspections

Given to you by buyer’s agent at execution of contract 

Buyer’s agent will most likely schedule inspections, but you must maintain regular contact with them to ensure timings work for your seller



Receive written confirmation on loan approval As soon as possible 

Negotiate repairs and treatments

After inspections, use an amendment to request repairs and treatments. If there is a contingency period, this should be done before the dates in the contract.



Schedule survey (if necessary) Within deadlines of contract 

Ensure appraisal has been scheduled Within ten days of loan application 

Coordinate move-in dates

Work with buyer’s agent to coordinate dates 

Schedule closing appointment, if necessary The week of closing 

Final walk-through with buyer

Have client review HUD-1 Settlement Statement with escrow/ closing agent to ensure accuracy of debit and credits

After repairs and treatments are complete, before closing 

Day before or day of closing (before you go to closing) 

Go to closing (if required in your state) 

Receive your payment (delivered from title/escrow company) After closing and funding 

Part of being a great problem solver is taking advance inventory of things that can go wrong in the contract-to-close phase of a transaction.

Common Issues and Solutions

With a partner, fill in the blanks. Identify possible solutions to common issues in the contract-to-close process.

Contractto-Close Issues How Things Go Wrong Solutions

Inspections and Repairs

Appraisals

1. Surprise findings

2. Report is complex or confusing Attend inspection with your client and other party 3. Costs and “who pays” Prenegotiate limits on inspection-related costs 4. Timetable for repairs Select and supervise preferred vendors

5. Doubt about worthiness

6. Won’t support price

Prepare and reassure your client about how things will happen, and document work in invoices

7. Won’t support the loan Find additional buyer funds or funding (provide seller financing option?)

8. Doesn’t match the CMA

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STOP and DO Contract-to-Close

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