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Here are some basics that you can include in a simple format to make sure everyone involved has the proper contact information and understanding of who’s who:

• Address of the property being purchased
• Date of sale
• Buyer (along with contact information, a spouse if applicable, etc)
• Seller (along with contact information). Ensure you have new contact information for them moving forward if they are vacating their current address.
• Attorneys - if you’re working with any legal counsel on either end, make sure their contact information is included in your documents.
• Broker
• Closing Officer - You might not initially know this, but once you find this out you can include accurate information in your checklist.
• Lender - Include the bank as well as who you are working with there.
• Appraiser - See below for more information on the appraiser, such as dates to include
• Inspectors - See below for more information on the inspectors, such as dates to include. Sometimes there will be more than one inspection. For example, you may have your typical building inspection but then a specialized professional will take a look at any fireplaces in the home. Include all of these individuals in your checklist.

Now we get into the more complex portions of the checklist. You can probably include everything above on one or two pages to ensure everyone involved in your real estate transaction is on the same page.

If you’ve ever done any real estate deals, you know there are mounds of forms to fill out and paperwork to be completed and keep track of. Here’s a list of those items:

1. Purchase Agreement - This document, sometimes called the purchase contract, is one of the first documents executed. It lists the terms and conditions of a real estate sale. This will be the document that includes the agreed-upon sale price. Buyers may execute one, but if the price isn’t right and there is a counter-offer, there will be another purchase agreement drafted. Once an offer is accepted, an addendum to the purchase agreement might be submitted if any alterations to the terms or conditions are needed. Your checklist should include any deadlines for executing or maintaining this contract.
2. Disclosures - Once an offer is accepted, a real estate agent will provide the buyer with disclosures (sometimes several of them) depending on the type of purchase. Most residential purchases necessitate a real estate transfer disclosure statement that is completed by the seller. This lists the condition of any items included in the sale. There might be other types of disclosures such as those for lead-based paint or natural hazards. The purchase contract states the deadlines for these documents to be reviewed and accepted, and your checklist should highlight these dates as well.
3. Homeowners Association information - Often a condominium or a home in a planned development belongs to a homeowner’s association (also called an HOA). In this case there should be a homeowner’s common interest development disclosure that informs the buyer of all rules and regulations that govern the complex or development. This will also include the latest budget, fees they need to know about, the latest meeting notes, etc. Any information regarding the HOA that could be pertinent to the purchase must be signed by the seller and the buyer. Contractual deadlines for doing so should also appear in this checklist.
4. Inspections - A thorough inspections (or several) are a very important part of a building purchase. Unless buying a building “as is”, there will be inspections taking place as a condition of the purchase. Possibilities for these might include a survey to understand land parameters, or an appraisal for financing. Any inspections should have the dates listed, along with contact information for the inspectors.
5. Escrow Information - An escrow company serves as a neutral third party that is responsible for ensuring all contractual obligations are met by both parties involved (buyer and seller). Their job is to make sure all necessary steps are taken before any funds are transferred and deeds are recorded. An escrow officer typically requests a preliminary title report to see if there are any existing mortgages, liens, property taxes or judgments that need to be taken care of prior to transferring the title to the new buyer. All information on the escrow officer, their company, and deadlines for getting them documentation should be maintained in the checklist.
6. Timeline or calendar - It’s smart to maintain one calendar that has all of the key dates for your transaction on it. Each of the items we’ve mentioned so far is going to have deadlines associated. Create a timeline where you document each of these deadlines and make sure it’s easily understood at a glance.

Rest assured that properly understanding the real estate transaction process will help things to go much smoother. Keeping a real estate transaction checklist will help make sure all parties are on the same page and deadlines are being met.