Purchasing a home is typically a significant transaction in the lives of home buyers which is also true when homeowners are selling a home. There are a variety of important steps in the residential home buying or home-selling process. It is helpful for home buyers or sellers to be as familiar as possible with the elements and legal requirements of the process which can help ensure a smooth experience and successful transaction.
The different steps in the residential real estate home buying or home-selling process include negotiating, drafting and reviewing sales contracts; reviewing inspection reports; reviewing seller disclosures; ordering title insurance and title examinations; examining the deed; conveyancing; analyzing the settlement sheet; and attending the closing. In addition, there are many specific details associated with each step that are part of the purchase or sale of a home that both buyers and sellers should be familiar with.