Closing Timeline

How to read this timeline

• Day 0 is the effective date: the day the last party signed the contract. Check the contract, because some contracts define the effective date differently.
• Closing day is shown as C. "C minus 5" means five business days before closing.
• Day targets assume a typical cash wholesale or double close with a 21 to 30 day closing. Retail Partnership files take longer; see the variations at the end.
• The contract always wins. If the contract says the deposit is due in 2 business days, that is your deadline, even if this page says 3.
• Each stage ends with exit criteria. A file only moves to the next status when every exit item is true.

The timeline at a glance

Stage	Status code	Day target	Owner of the work	You are done when
1. Intake	NEW	Day 0, within 2 business hours	TC	The file is complete and every deadline is on the tracker
2. Open title	TITLE-OPEN	Day 0, within 4 business hours	TC, title	Title confirms receipt in writing
3. Earnest money	EMD-PENDING	Day 1 to 3 (per contract)	Depositing party, title	Title sends a receipt
4. Title search	SEARCH	Day 3 to 10	Title	Commitment and lien search are received and read
5. Inspection period	Runs alongside 3 to 6	Ends on the contract date	Client, buyer, TC	Client decision is recorded before the deadline
6. Buyer assignment	MARKETING then BUYER-LOCKED	Day 3 to 14	Dispositions, TC	Buyer documents and deposit are with title
7. Curative	CURATIVE (if needed)	Day 7 to C minus 7	Title, seller, client	Title signs off every requirement
8. Clear to close	CTC	C minus 7	Title, TC	Title confirms the file can close
9. Settlement statement review	SS-REVIEW	C minus 5 to C minus 2	Title, TC, client	All parties approve the final statement in writing
10. Signing	SIGNING	C minus 2 to C	Title, notaries, parties	Every party has signed and originals are with title
11. Funding and recording	FUNDING	C to C plus 2	Title, lender	Funds disbursed, fee confirmed received
12. Post-closing	POST then CLOSED	C plus 1 to C plus 3	TC	Package archived, handoffs done

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Stage 1: Intake (Day 0)

Goal: confirm you have a valid, fully signed deal and build the file before anyone else touches it.

Checklist

• Contract is signed and dated by every seller and by the buyer entity. Count the signature lines and count the signatures.
• Every page that needs initials has them.
• All addenda and counteroffers are signed by every party, and you can tell which version is final.
• Any state-required wholesaler disclosure is signed and dated, and was signed before or with the contract as the state requires. If you are unsure whether one is required, ask the client before you open title.
• If the state gives the seller a cancellation window, log the exact end date and time. Nobody asks the seller to sign a deed or closing document inside that window.
• Seller names on the contract match the owner of record. Run a quick check against the public record. If they differ, see page 05 (vesting) and page 07.
• Buyer entity name is exact, including "LLC" or "Inc." and any "and/or assigns" language.
• Log these in the tracker: purchase price, deposit amount and deadline, inspection period end, closing date, possession date, who pays which closing costs, any seller credits, any personal property included.
• Deal type tag set: assignment, double close, Retail Partnership, subject-to, client purchase, JV.
• Occupancy and access logged: vacant, owner occupied, or tenant occupied, with lockbox code or access contact.
• Known mortgage, liens, back taxes, probate or divorce notes from acquisitions copied into the file.
• Every deadline is on your calendar with a reminder 2 business days before.

Exit criteria: file complete, deadlines logged, deal type tagged. Status moves to TITLE-OPEN when you send the opening email.

Stage 2: Open title (Day 0)

Goal: the title company or closing attorney has everything they need to start, and has confirmed it.

Checklist

• Use the title company the client chose. If none was chosen, ask the client today. Do not pick one yourself.
• Send the opening package (see page 03 for the full list): contract, addenda, assignment or JV agreement if signed, buyer entity documents for new title companies, contact sheet, target closing date.
• Ask title to order the title search and the municipal and lien searches, and to confirm the deposit when received.
• Ask for a written receipt confirmation today.
• Call the seller to introduce yourself, explain what happens next and confirm the best way to reach them (Script 02, first call).
• Send the seller a short email or text confirming the title company's name and what they can expect.
• For double closes, confirm title's policy on funding the first closing. For subject-to, confirm title closes this structure.

Exit criteria: written receipt from title. If no reply within 4 business hours, call. If no reply by end of the next business day, escalate Yellow.

Stage 3: Earnest money (Day 1 to 3, per contract)

Goal: every deposit owed is delivered on time and receipted. Full rules are on page 04.

Checklist

• Identify every deposit: the client's deposit on the seller contract, and later the end buyer's deposit on the assignment or B to C contract.
• Confirm the delivery method with title (wire, cashier's check or the title company's secure payment link) and send it to whoever is paying.
• Follow up with the payer the day before the deadline.
• Get the receipt from title and save it to the file.
• Tell the seller the deposit is in. This is a strong trust moment, so make it a call, not only an email.

Exit criteria: receipt on file. A missing deposit on the deadline day is a Red escalation, because the other side may gain a right to cancel.

Stage 4: Title search (Day 3 to 10)

Goal: you know what is on the title and what must be fixed before closing.

Checklist

• Day 5: ask title for the expected search date if it has not arrived.
• Confirm the seller returned the title company's seller information sheet and signed the payoff authorization, if title requires them.
• When the title commitment arrives, read all of it the same day:
  • Schedule A: who owns it (vesting), the legal description, the proposed insured.
  • Requirements: everything title needs before it will insure. These become your curative list.
  • Exceptions: what title will not insure. Flag anything unusual to the client.
• Compare the vesting name to the contract seller names.
• Read the municipal lien search: water, sewer, code fines, demolition liens, open permits.
• Build the curative list in the CRM: each item, who fixes it, due date.
• Send the client a one paragraph title summary: "clear" or "clear except for these items."

Exit criteria: title summary sent. If the list is empty, the file can move toward CTC once the buyer is locked. If it is not empty, status becomes CURATIVE.

Stage 5: Inspection period (runs alongside stages 3 to 6)

Goal: the client and any end buyer complete their inspections or walkthroughs, and the client decides before the period ends.

Checklist

• Log the exact end date and time of the inspection or due diligence period.
• Arrange access for inspectors, contractors and buyer walkthroughs. Confirm with the access party (seller, tenant, agent) the day before and the morning of.
• Tenant occupied: give the tenant the notice required by the lease or state law, through the seller or property manager.
• Upload reports and photos to the file as they arrive.
• Two business days before the period ends, ask the client in writing: proceed, renegotiate, extend or cancel?
• If the client wants to cancel or renegotiate, prepare the right form (page 08) and get it delivered before the deadline. Late notice usually means the right is lost.

Exit criteria: the client's decision is written in the CRM before the deadline, and any notice is delivered and confirmed.

Stage 6: Buyer assignment (Day 3 to 14)

Applies to assignments, double closes and JV files.

Goal: a qualified end buyer is under contract, their deposit is with title and their paperwork is complete.

Checklist

• Give dispositions the access rules and the date by which the buyer must be locked (normally at least 7 business days before closing).
• When a buyer is chosen, receive: signed assignment agreement or B to C contract, exact buyer entity name, proof of funds or lender letter, buyer closer or lender contact.
• Check that the assignment fee or resale price in the buyer document matches what the client approved.
• Ask the client before sharing the original seller contract with the buyer. Title receives everything; the buyer receives what the client approves.
• Send the buyer paperwork to title with a clear note: "Assignment of contract, assignee is (BUYER ENTITY NAME), assignment fee (ASSIGNMENT FEE) payable to (ASSIGNOR ENTITY NAME) at closing."
• Track the buyer deposit like Stage 3.
• If the buyer pays cash, confirm the funds will arrive by wire at least one business day before closing. If the buyer changes to a loan, escalate Yellow at once (see page 10).

Exit criteria: buyer documents and deposit receipt are with title. Status BUYER-LOCKED.

Stage 7: Curative (Day 7 to C minus 7, only if needed)

Goal: every title requirement is satisfied and title says so in writing. Page 05 explains each issue.

Checklist

• Each item has an owner, an action and a due date.
• Payoff statements ordered with a good-through date after the closing date.
• Seller documents requested in plain language with a deadline (death certificate, divorce decree, letters of administration, ID).
• Twice weekly status email to title listing every open item.
• Any item that will not clear by C minus 7 is escalated Yellow, with a recommendation: extend, reprice or proceed as is if title allows.

Exit criteria: title confirms every requirement is satisfied or will be satisfied at closing (for example, a payoff paid from proceeds).

Stage 8: Clear to close (C minus 7)

Goal: title confirms the file can close on the scheduled date.

Checklist

• Ask title directly: "Is this file clear to close on (CLOSING DATE)? Is anything outstanding from any party?"
• Confirm the closing date, time and method for each party (in office, mobile notary, mail away, or remote online notarization where title allows it).
• Out of state or travelling parties: mail away packages need 3 to 5 business days. Arrange them now.
• Confirm the buyer's funds plan, or the lender's closing date, or the transactional lender's funding date for a double close.
• Send the client's wire instructions for the fee through the client's secure method only. Title must confirm them by phone with the client.

Exit criteria: title has confirmed CTC in writing. Status CTC.

Stage 9: Settlement statement review (C minus 5 to C minus 2)

Goal: every number is correct before anyone signs. Use page 06 for the line by line review.

Checklist

• C minus 5: request the preliminary settlement statement (buyer and seller sides, or both statements for a double close).
• Review it line by line the day it arrives. Send corrections to title in one numbered email.
• Send the client the statement with your review notes and get written approval.
• Share the seller's side with the seller and walk them through their estimated proceeds by phone. Say "estimated" every time.
• C minus 2: get the final statement and check that every correction was made.
• Record each approval (client, seller, buyer side) with date and time.

Exit criteria: final statement approved in writing by the client, and the seller has confirmed they understand their side.

Stage 10: Signing (C minus 2 to C)

Goal: every party signs correctly, on time, with the right identification and notarization.

Checklist

• Confirm the seller's signing appointment: date, time, location or mobile notary, what ID to bring.
• Confirm every seller is signing, including both spouses and every heir or trustee title requires.
• Confirm the buyer's signing or that their signed package is back.
• Send the 48 hour confirmation email to all parties (Script 04).
• Morning of signing: call the seller to remind them.
• After signing: ask title to confirm the package is complete and nothing needs to be re-signed.

Exit criteria: title confirms all signatures received and complete.

Stage 11: Funding and recording (C to C plus 2)

Goal: money moves, the deed records and the client is paid.

Checklist

• Confirm the buyer's or lender's funds have arrived at title.
• Double close: confirm both closings funded, in order.
• Ask title to confirm disbursement, and ask for the fee wire confirmation or reference number.
• Ask the client to confirm the fee has arrived in their account. Match it to the settlement statement to the cent.
• Call the seller once funds are disbursed to confirm their proceeds are on the way and thank them.
• Ask title when the deed will record and request a copy when it does.

Exit criteria: the client confirms receipt of the expected amount. Status moves to POST.

Stage 12: Post-closing (C plus 1 to C plus 3)

Checklist

• Upload the final settlement statement and closing package from title.
• Upload the recorded deed when it arrives (this can take days or weeks depending on the county).
• Move the CRM status to CLOSED and tag the team.
• Client purchases: hand off to the project manager or property manager with keys, codes, reports and utility status.
• Ask the right team member to collect signs and lockboxes and to stop or transfer utilities, then follow up in 2 business days to confirm.
• Ask the seller if they would recommend the client, following the client's review process.
• Write a three line lessons note: what went well, what slowed the file, what to do differently.

Exit criteria: package complete, status CLOSED, all handoffs confirmed.

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Variations by deal type

Retail Partnership Option (novation-style), typical 30 to 60 days

Add these stages between buyer acceptance and clear to close:

Extra stage	Typical timing after the retail contract	What you do
Buyer's loan application and pre-approval check	Days 1 to 5	Confirm the lender has the contract and the buyer applied
Buyer inspections and repair requests	Days 1 to 10 (per contract)	Get the request list, send it to the client, record the client's response, document agreed repairs on the right form
Appraisal	Days 10 to 20	Confirm the appraisal is ordered and the access plan. If it comes in low, see page 10
Agreed repairs completed	Before the final walkthrough	Collect invoices and photos, share them with the buyer's side
Loan approval	Per the financing deadline in the contract	Ask the lender for written confirmation of approval
Final walkthrough	C minus 1 or the morning of C	Confirm the time with both agents

Copy the listing agent on every email. Check the listing agent's notes before you contact the buyer's side.

Subject-to

Add before CTC:

• Seller signed every disclosure the client's documents require, including the written acknowledgment about the existing loan.
• Third-party authorization signed so the client can speak with the loan servicer.
• Latest mortgage statement and loan number on file.
• If the loan is behind, a reinstatement figure good through closing.
• Insurance updated as the client and title require.
• Title has confirmed in writing that it will close the transaction as structured.

Double close

• Two contracts, two deposits, two settlement statements, two signings, often one day.
• Confirm on Day 0 how the first closing is funded, and whether title will allow the end buyer's funds to be used.
• If transactional funding is used, the lender needs both contracts and both statements, often 3 business days before closing.
• The A to B closing must fund and record (or be ready to record) before the B to C closing disburses. Ask title for their exact order of events.

Client purchase (fix and flip or rental)

• Lender: confirm funds requested, approved and scheduled. Send the lender the contract on Day 0.
• Insurance binder must be at title before closing.
• Schedule the inspection or contractor walkthrough within 24 hours of the signed contract.
• After closing, hand off to the project manager and set a weekly check-in until the property is listed or rented.

Check yourself

1. The contract says the deposit is due "within 2 business days." The contract was signed Friday. When is it due?
2. What three parts of the title commitment do you read, and what do you look for in each?
3. Which stage has an exit criterion of "the client's decision is written in the CRM before the deadline"?
4. Why do mail away signing packages need to be arranged at clear to close, not later?
5. When is a deal actually finished?

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