Tumminelli Law Group

Keeping You Informed and Protecting Your Interests Every Step of the Way

1. Contract: the real estate agents have both buyer and seller sign the contract and all necessary addendums.

2. Attorney Approval: your attorney reviews on your behalf and approves your contract. He sends confirmation to your real estate agent and the other parties' attorney.

3. Inspection: the buyer has an engineer inspect the property. Both parties sign a Release of Inspection Contingency and the seller performs any repairs agreed upon.

4. Financing: the buyer applies for a loan with the lender of his/her choice. The lender sends the mortgage commitment to the buyer's attorney who, after review, forwards it to the seller’s attorney.

5. Title: if selling, your attorney contacts your current mortgage lender and orders a payoff statement. The buyer obtains title insurance on the property through his/her attorney who protects you from title issues.

6. Insurance: the buyer purchases a homeowner's insurance policy and provides it to his/her lender.

7. Adjustments: the buyer's attorney determines the total amount of funds the buyer needs to bring to closing, while the seller's attorney determines the total amount the seller will receive after closing.

8. Closing: your attorney explains all of the closing documents to you and makes sure you are provided with keys if buying. If you are selling, the attorney has you sign the closing documents prior to closing so that you do not have to attend.

9. Proceeds: if selling, your attorney sends you the sale proceeds either by wire, mail or you can pick them up at our office.

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