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Contract To Closing In 10 Steps!

So we found your dream apartment, made an offer, had it accepted and are now in contract!

Step 1: Knowing important due dates in the Fully Executed Contract
Step 2: Buyer takes the contract and shops for the best rate & terms
Step 3: Buyer pays for the bank to hire an appraiser
Step 4: The appraiser comes and inspects the property in person and submits a report to the bank
Step 5: The banks will review the appraisal and include it as part of the loan documentation for the commitment
Step 6: Wait up to 10 days for the bank to issue a commitment letter
Step 7: If the buyer is purchasing a co-op or condo, the buyer will also be working on a board package to submit to the building
Step 8: Work with the bank to remove the conditions on the commitment letter
Step 9: Attorneys schedule a closing date
Step 10: Schedule and perform a final walk-through