REAL ESTATE CLOSING CHECKLIST AND WORKFLOW

Created by ChecklistGuro (https://checklistguro.com)

[ ] Retrieve Property Details: Fetch core information (address, price, closing date) from the Property Data Model.
[ ] Retrieve Buyer/Seller Information: Fetch contact details and legal names from the Parties Data Model.
[ ] Order Title Search: Create a task for the Escrow Officer to initiate the title search process.
[ ] Verify Mortgage Payoffs: Create a task to contact lenders and confirm final payoff amounts.
[ ] Create Closing Disclosure (CD): Generate a new entry in the Closing Documents data model containing the finalized fee breakdown.
[ ] Calculate Total Closing Costs: Sum all tax, lender, and legal fees to determine the total cash required at closing.
[ ] Aggregate Total Escrow Fees: Sum all individual service fees from the Line Items data model to validate the final balance.
[ ] Coordinate Notary Signing: Create a task to schedule the mobile notary for the signing appointment.
[ ] Update Property Status: Change the status of the Property entry from 'In Escrow' to 'Pending Closing'.
[ ] Notify Parties of Closing Date: Send an email to Buyers, Sellers, and Agents confirming the final appointment time and location.
[ ] Verify Wire Transfer Receipt: Create a high-priority task to confirm funds have cleared the escrow account.
[ ] Alert Agent of Document Signature: Send an SMS to the Real Estate Agent once all parties have digitally signed the contract.
[ ] Mark Transaction as Closed: Update the transaction record to 'Closed' and timestamp the completion.
[ ] Generate Post-Closing Summary: Create a final report summarizing the transaction details for the company archives.
[ ] Remove Draft Contingencies: Delete any expired or inactive contingency entries from the transaction record.

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