The Homepie EDGE | Part 3: Getting from Contract to Closing

The Homepie EDGE | Part 3: Getting from Contract-to-Close

The GIST: Action Items

Evaluate offers carefully: Look beyond the price, considering contingencies, financing, and the closing date.
Utilize Homepie's digital tools: Use the platform's digital offer negotiation software and automatic contract generation.
Prepare essential paperwork: Gather the Sale and Purchase Agreement, Seller's Disclosure, and Title documents.
Hire an attorney or Utilize a Transaction Coordinator: It is highly recommended to have an attorney review all legal documents, even if your state doesn't require it.
Expect inspections: Be prepared to negotiate repairs based on the buyer’s home inspection.

The Contract to close Journey

When an offer is received, a seller must evaluate it on more than just the sales price, taking into account the buyer’s form of payment, the amount of the down payment, and any concession requests.¹⁶ Homepie's digital negotiation software simplifies this process, allowing you to track and compare offers in a centralized dashboard.¹ The software also automatically generates a "bonafide digital contract" with all agreed-upon terms, which is a major advantage for sellers unfamiliar with legal intricacies. In states where a purchase agreement is not available, Homepie provides a Memorandum of Understanding (MOU), which outlines preliminary terms and intentions without the full legal enforceability of a formal contract.

The paperwork for an FSBO sale is extensive and legally complex.⁴ The core documents required include the Sale and Purchase Agreement (SPA), the Seller's Disclosure Statement, and Title and Ownership documents.¹⁴ Federal law also mandates a Lead-Based Paint Disclosure for homes built before 1978.¹⁴ A seller should find state-specific disclosure forms on their state's government or REALTOR® association websites.²⁴ It is highly recommended to hire an attorney to review all legal documents to ensure they are properly filled out and to protect against potential legal disputes.³

Document Name	Purpose	Responsibility	Source
Sale and Purchase Agreement	Outlines the terms of the sale, including price, closing date, and contingencies.	Seller/Buyer or an attorney ²³	²³
Seller's Disclosure Statement	Informs the buyer of any known defects, repairs, or hazards.	Seller ²⁰	²³
Title and Ownership Documents	Proves the seller has a legal interest in the home and a clear title.	Seller ²⁰	²³
Lead-Based Paint Disclosure	Federally required for homes built before 1978; informs buyers of potential lead hazards.	Seller ²³	²³

Once an offer is accepted, a title and escrow company will act as a neutral third party to manage the closing process. This company performs a title search, prepares closing documents, and disburses funds. During this time, the buyer will conduct a home inspection and an appraisal.²⁶ The inspection report often leads to a negotiation over repairs, and sellers should be prepared to address major defects to keep the sale on track.¹⁰ On closing day, all parties sign the final paperwork, funds are transferred, and the keys are handed over.⁹

NEXT > Go to Homepie EDGE | Part 4: Common Pitfalls to Avoid when Selling Your Own Home

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This Homepie EDGE 4 part series references data found in the following links, as of publishing date of 8.12.2025:

Based on the research, here is a list of the cited references from the article: