The Contract to Close Checklist (Tennessee)

I’m a co-founder of Arivana and a Nashville real estate broker, and I’ve closed 300+ transactions myself. Use this list as-is, print it, or hand it to whoever runs your files.

How to count days in a Tennessee contract

Your contract’s own dates always win. The day counts below come from the RF401, Tennessee’s standard purchase and sale agreement, and your contract’s blanks and special stipulations can change them.

• Day 1: The day after the Binding Agreement Date. A "5 day" deadline on a contract that binds Monday lands Saturday.
• Calendar days: A day ends at 11:59pm, local time where the property is.
• Weekends and holidays: A deadline that lands on a Saturday, Sunday or federal holiday moves to the next business day. Four dates never move: the closing date, possession, the completion of repairs deadline and the offer expiration.
• Written notice: Most deadlines are met with written notice, usually the Notification form. A phone call doesn’t count.

1. The day the contract binds

• Check that every page of the contract and every counteroffer is signed and initialed by everyone, then save them as one PDF
• Check that the file has every disclosure the property needs: the property condition disclosure (or exemption), a lead-based paint disclosure for homes built before 1978, and the Confirmation of Agency Status
• Pull every date and deadline out of the contract and put them on a calendar
• Send the bound contract and a summary of key dates to your clients, the other agent (and their TC), the title company and the lender
• Seller side: Change the Realtracs status to under contract
• HOA or condo: Send the HOA governing documents to the buyer’s side

2. Earnest money, the loan and the appraisal

These come due in the first few days. They’re easy to miss because nobody calls to remind you.

• Earnest money: Confirm the holder received it by the contract deadline, then tell your clients, the other agent and the lender. If it hasn’t arrived the day after the deadline, call the other agent right away.
• Wire safety: Have the buyer confirm wiring instructions in person or by calling the earnest money holder at a number they already know. The RF401’s own warning says never to trust wiring instructions sent by email.
• Loan application and credit report (financed): Confirm the buyer applied for the loan and paid for the credit report within 3 days. The buyer’s agent sends the Notification form (RF656) to the listing agent with the lender’s name and contact info. Listing agent: ask for it if it doesn’t come.
• Proof of funds (cash): Collect it within 5 days.
• Appraisal on a cash deal with an appraisal contingency: Confirm the buyer ordered the appraisal within 5 days, and send the appraisal company’s name, phone number and proof of order to the listing agent
• FHA or VA: Confirm the case number was assigned. USDA: Confirm the address is eligible.

3. The inspection period

The inspection period is the deadline that does the most damage when it slips. If the buyer doesn’t inspect and send written notice in time, they give up their inspection rights and take the home as is.

• Buyer side: Send your buyers a few home inspector names
• Confirm the inspection date and time with your clients and tell them what to expect
• Buyer side: Tell the listing agent the inspection date and time
• Confirm the inspector can get in, and seller side: confirm the utilities, pool and spa equipment are on
• Buyer side: Send your clients the inspection report with a short summary of the key findings
• Agent: Decide with your buyers whether to ask for repairs, accept the home as is, or terminate
• Deliver the repair proposal, the as-is Notification form or the termination before the inspection period ends
• Write down the date the repair proposal was delivered. The resolution period counts from it.

4. The resolution period

• Seller side: Send the repair proposal to your sellers, with the inspection report pages that back it up
• Agent: Negotiate the repairs with the other agent. A TC can’t negotiate terms in Tennessee.
• If both sides need more time, extend the resolution period in writing before it ends
• Draft the Repair/Replacement Amendment and get it signed by all parties
• Send the signed amendment to the lender, the title company and both clients
• Watch the end of the resolution period. Unless there’s a signed repair amendment, a written as-is notice or a written extension by then, the contract ends and the buyer gets the earnest money back. Get the mutual release signed so the holder can pay it out.

5. Day 14 and the lender

• Financed, within 14 days: Confirm the buyer has homeowner’s insurance, told the lender they intend to proceed, has the funds to close shown on the Loan Estimate, and asked for the appraisal and paid the fee. The buyer’s agent sends the 14-day Notification form to the listing agent.
• Confirm the loan went to underwriting
• Ask the lender for the appraisal result, and tell your clients the value
• Low appraisal (with an appraisal contingency): The buyer’s agent sends the Notification form right away. The buyer then has 3 days to waive the contingency or terminate. If the buyer does neither, the contingency counts as satisfied. If both sides agree on a new price instead, sign a price amendment.
• Confirm the lender issued conditional loan approval

6. Two weeks before closing

• Schedule your clients’ closing with the title company, and ask if anyone needs a remote online notary
• Check in with title on the title search
• Seller side: Get the utility providers from your sellers and send them to the buyer’s agent. Buyer side: Pass them to your buyers.
• Seller side: Confirm title has the mortgage payoff, and the HOA estoppel or lien payoff if there’s an HOA
• Order the home warranty, if there is one, and check that it’ll show on the settlement statement
• Rent-back: Confirm the terms, the deposit and the move-out date with your clients

7. The final week

• Confirm title is clear
• Repairs: Confirm the seller finished every agreed repair, and send the receipts and invoices to the buyer’s agent
• Schedule the final walkthrough with your clients and the other agent
• Financed: Confirm the lender sent the Closing Disclosure at least 3 business days before closing. Federal rules require it, so a late one can push the closing date.
• Confirm clear to close, and tell your clients
• Get the settlement statement from title and check the commission, prorations, credits and fees
• Buyer side: Confirm the cash to close with your buyers, and that they wired it or have a cashier’s check
• Buyer side: Confirm utilities move to the buyer on closing day. Seller side: Remind your sellers to keep them on until the day after closing.
• Confirm keys, remotes, fobs and access codes will change hands at closing
• Send your clients the closing time, the location and what to bring

8. Closing day and after

• Walkthrough: Check that the home is in the same condition it was on the binding agreement date and that the agreed repairs are done. Call the other agent right away if anything’s off.
• Get the fully signed settlement statement
• Seller side: Confirm the seller’s proceeds went out
• Confirm the commission wire or check is on its way to your brokerage
• Close out the listing in Realtracs (seller side), or ask the listing agent to (buyer side)
• Save every closing document to the deal file and send your broker the compliance file
• Ask your clients for a review a few days after closing

If the deal falls apart

The checklist doesn’t stop when a deal dies. Get the mutual release signed by everyone, follow up with the earnest money holder until the money is paid out, and still build the broker file.

What goes in the broker compliance file

Every brokerage has its own list, so ask your broker for theirs before your first file. Most Tennessee broker files hold:

• Listing agreement or buyer representation agreement
• Bound contract, with every counteroffer
• Confirmation of Agency Status
• Property condition disclosure (or exemption)
• Lead-based paint disclosure, for homes built before 1978
• Pre-approval letter or proof of funds
• Earnest money receipt
• Every Notification form (RF656) and every amendment
• Inspection reports, repair proposals and the repair amendment, plus repair receipts
• Appraisal report and title commitment
• HOA documents, home warranty and any temporary occupancy agreement, when they apply
• Final settlement statement
• Mutual release, if the deal died

How Arivana does it

At Arivana, every file starts the same day if we get it by 8pm, weekends included, on every plan. Every deadline gets a second check against the contract, and you get a calendar invite for every deadline and appointment, updated when plans change. On Standard and White glove, your TC works this whole checklist and introduces themselves to your clients the same day the file starts. On Compliance, we track every deadline and build your broker file, and you handle the people.

Standard and White glove files are free if the deal dies, and that covers the mutual release, the earnest money follow-up and the broker file. See our pricing for what each plan includes, or read about our real estate transaction coordinator services.