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DynamicEdge Realty
Eddie McGowan, NY Real Estate Broker
718-440-4180
www.DynamicEdgeRealty.com
Buyer Transaction Checklist
© DynamicEdge Realty. This checklist is for informational planning purposes only and does not constitute legal, tax, or lending advice.

Buyer Transaction Checklist

A structured overview of the major steps involved in a New York real estate purchase, from initial preparation through closing and post-closing responsibilities.

How to Use This Checklist

Track the key milestones involved in a real estate purchase from pre-approval through closing. Many steps happen simultaneously, so this guide helps you anticipate what comes next.

Planning Tip

Most transactions take 45–75 days from contract to closing. Maintaining communication with your lender, attorney, and agent keeps the timeline moving smoothly.

Preparation & Planning

  • 1
    Financial Preparation
    Review income, debt, savings, and credit profile to determine purchasing readiness.
  • 2
    Mortgage Pre-Approval
    Obtain written pre-approval from a lender to understand your borrowing capacity.
  • 3
    Engage Buyer’s Agent
    Establish a written buyer representation agreement and discuss property search strategy.
  • 4
    Define Property Criteria
    Determine preferred location, property type, price range, and financing parameters.

Property Search & Offer

  • 5
    Schedule Property Showings
    Tour potential properties and evaluate condition, value, and location considerations.
  • 6
    Submit Offer
    Your agent prepares and submits an offer including price, contingencies, and timeline.
  • 7
    Offer Negotiation
    Buyer and seller negotiate price, contingencies, and terms until agreement is reached.
  • 8
    Accepted Offer
    Once accepted, attorneys begin preparing the contract of sale.

Contract Stage

  • 9
    Attorney Review
    Buyer’s attorney reviews contract terms and negotiates legal protections.
  • 10
    Home Inspection
    A professional inspection identifies structural or mechanical concerns.
  • 11
    Contract Signing
    Buyer signs the contract and submits the contract deposit.
  • 12
    Fully Executed Contract
    Seller signs and the contract becomes binding.

Mortgage & Due Diligence

  • 13
    Submit Mortgage Application
    Provide documentation required by the lender for underwriting review.
  • 14
    Property Appraisal
    The lender orders an appraisal to confirm the property's market value.
  • 15
    Title Search
    Title company verifies ownership history and identifies liens.
  • 16
    Mortgage Commitment
    Lender issues formal commitment subject to final conditions.

Closing Preparation

  • 17
    Clear Mortgage Conditions
    Submit remaining documents requested by underwriting.
  • 18
    Final Walk-Through
    Inspect the property shortly before closing.
  • 19
    Closing Disclosure
    Review final settlement statement and confirm cash-to-close.
  • 20
    Closing
    Sign documents, transfer funds, and receive keys.

Need Help Navigating the Buying Process?

Every transaction is different. If you’d like a step-by-step strategy tailored to your situation, I’m happy to walk through the process with you.

Schedule a Buyer Consultation