So you have the property undercontract !!! Congratulations are in order but it is not time to celebrate yet. Depending on the market as high as 30% to 40%  of your deals can fall apart after they go under contract. That percentage can be mitigated greatly if you have done your due dilligence in steps 3,4, and 5. You should also keep everyone else that is interested in a file for follow up, and feel free to take backup offers on the property.

As soon as you get the signed contract do not wait to get the ball rolling. Call their lender, (Or get the hooked up with one) call the title company, and get things rolling forward. No one will want to get paid as badly as you do so you have to be the go between for all the parties involved. Unless you have a really good relationship with your agent don't hand off anything to him/her either as agents all the time drop the ball and leave your deal hangning.


Keep in contact (daily if need be) with your buyer, title company and lender. Each call only has to be a few seconds but it lets them know your on top of everything and it also lets them know they can't get away with anything. Let them know at every call that you will help them in anyway you can and then find out when you can call them again to check on the status of the loan. If someone starts not returning your call or getting you the info you need in a timely manner then you have a problem brewing and the deal might not close. If you stay on top of things it will avoid surprises popping up on the day of close.

Always be there with your seller when they close. No one will know them better than you and if a problem come up at closing you dont want them walking from the closing table. Even if you have a really talented closing agent you should still be there if for no other reason than to congratulate them on being a homeower and giving them a gift.

Once your seller closes congratulate them give them the keys and a closing gift. (A home depot gift card is a great idea) Talk to your escrow agent and find out if their are any loan funding conditions and if there are any find out what they are and facilitate gathering of that information as quickly as possible. (You only have a few days) Once the escrow agent has all the funding conditions  you collect your check and you can move onto step #7

Step #7 Moving On. If yo uhave not read Robert Kiyosakis "Rich Dad Poor Dad" yet then I highly recommend doing so. Step #7 determines whther you will spend all of your check and be at the same place you were before or if you reinvest it in your business and begin the first step of many to financial independance.