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REO Boom: How to Manage, List, and Cash in on Bank-Owned Properties: An Insiders' Guide for Real Estate Agents by Tim Shah, Aram Shah

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[APPENDIX J]

Closing Checklist

Week 1: Executed Contract

Introductory

Email/Contact Info

Condo Application

Estoppel Ordered

Lender Submitted File

CT/Quit Claim Deed

Week 2

Condo Interview/Approval

Inspection Completed/As-Is

Lien Search

Title Clear on Property/Lien

Estoppel Received

Appraisal Completed (If Applied)

Estoppel Paid

Week 3

Follow up with Lender/Financing

Follow up with Estoppel

Follow up with CT

Loan Approval

Clear to Close

Call Buyer’s Side of Co.

Prepare HUD

Week 4: To Close

Add Re-Key

Submit HUD to Bank

HUD Approved by Bank

HUD Approved by Lender

Final HUD & Waiver Executed

Real Estate Commission Received

Thank You Call

Thank You Email

Daily

Update Calendar

Follow up with Callers

Check Bank Platform Comments

ABC—ALWAYS BE CLOSING ...

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