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Digital Real Estate Transaction Checklist

Real estate transaction management software for an efficient sales process

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What is a Real Estate Transaction Checklist?

A real estate transaction checklist helps facilitate a simpler, fairer, and timely sales process for both buyer and seller. This tool can be used by transaction coordinators, realtors, and escrow officers to ensure that all parties are in compliance with contractual obligations, as a breach in real estate contracts can result in lengthy court battles and costly lawsuits.

This article covers: 1) 4 keys to a smooth real estate transaction ; 2) a real estate transaction management software for simpler transactions; and 3) free digital real estate transaction checklists you can download, customize, and share with fellow real estate professionals.

4 Keys to a Smooth Real Estate Transaction

Real estate transactions entail the largest financial investments in the lifetime of most buyers, and they need to be executed as smooth and expeditious as possible to avoid costly contract breaches and protect such investments.Here are 4 keys on how to ensure a smooth transaction for clients:

  1. Get buyers pre-qualified

    Real estate agents should urge buyers to get pre-qualified before officially engaging in real estate transactions. This helps ensure that the buyer is searching for properties that are appropriate to their actual purchasing capacity. Getting pre-qualified can help avoid frustration and disappointment as it also informs buyers of properties they can afford.

  2. Have regular communication

    Buyers, sellers, agents, escrow officers, transaction coordinators, and attorneys (if applicable) should maintain regular communication to reach an acceptable agreement with the most beneficial terms and keep important schedules in check. Buyers and sellers should always consult with their real estate agents as they are the ones that can provide valuable, legitimate input during the real estate transaction. Escrow officers and/or transaction coordinators must continually liaise with clients and monitor timely completion of deadlines. Regular communication can help foster an efficient decision-making process and build rapport among all parties involved.

  3. Stick to the schedule

    “Time is of the essence” cannot be any more true when it comes to real estate transactions. Parties involved in the transaction should avoid missing deadlines as it can significantly hinder the process and lead to costly delays. A digital real estate transaction checklist can help outline important dates, such as property inspection schedules, availability of property insurance, and estimated closing date, and trigger automatic notifications (push, email, or SMS) when the dates are near.

  4. Ensure a realistic and accurate contract

    Finally, it is important for all parties engaged in the real estate transaction to lay down realistic expectations and accurate details in the real estate transaction checklist. By having a realistic and accurate contract, disagreements and potential legal disputes are avoided.

Simplify real estate transactions with iAuditor

Real estate transactions often become complex due to redundant forms and an inefficient paper-based workflow. With a real estate transaction management software like iAuditor, middlemen (transaction coordinators, escrow officers, and real estate agents) can utilize real estate transaction checklists to simplify transactions and deliver the best experience for both buyer and seller.

  • Attach photos of supporting documents as evidence of compliance to requirements
  • Assign important tasks to responsible people and easily track the status of their actions
  • Automate workflows to trigger push notifications for contractual deadlines
  • Integrate with third-party collaboration apps to facilitate a convenient review process and ensure precise and realistic contract details
  • Strengthen recordkeeping compliance with a safe cloud-based storage for all real estate transaction documents
  • Sign-off real estate transaction closings with electronic signatures


John Derick Flores

SafetyCulture Staff Writer

Dirk is a contributing writer for SafetyCulture who has 3+ years of experience being a Safety Officer in an international airline. Over the course of his tenure, he worked on projects involving training management, ramp safety inspections, quality & safety certification audits, and safety promotion programs. Further, he is interested in maximizing the power of technology to help make the world a better place.