Summary: This guide walks you through the critical transition from "Offer Accepted" to "Closed." Learn how to manage the wholesale pipeline, track earnest money, and handle title issues.
1. Transitioning: Offer Accepted to Under Contract
The moment a seller says "Yes," the real work begins. Moving a deal to "Offer Accepted" triggers a specific data collection process.
- The Transition: When you change the status to Offer Accepted, the system will prompt you to enter the Expected Profit, Expected Profit Date, and any Contingencies (like financing or inspection windows).
- Moving Pipelines: Often, you will move the deal from the "Seller Leads" pipeline to a specific exit strategy pipeline, such as "Wholesale". This unlocks stages specific to closing the transaction.
2. The "Under Contract" Stage
Once in the Wholesale pipeline, you need to track the legal and financial logistics.
- Contract Details: You can log the Purchase Price, Contract Terms, and upload the Executed Contract and any Addendums directly to the file.
- Earnest Money: Track the status of the deposit. You can mark whether the earnest money is Pending, Received, or Deposited, and even upload a photo of the receipt.
3. Opening Title & Managing Issues
Managing the title process is often where deals stall. The system allows you to track this granularly.
- Ordering Title: Change the status to Title Ordered. You can select your Title Rep (e.g., Nancy at Fidelity) and input the requested date.
- Title Commitment: When the report comes back, you can upload the Title Commitment Report and mark the status as Title Commitment Received.
Managing Issues: If the report shows liens or clouds on the title, you can log these under Title Issues. As you clear them, you can mark them complete to ensure nothing blocks the closing.