| Course | MT361 Foundations of Real Estate Practice |
|---|---|
| Unit | Unit 9 |
| Paper type | Transaction timeline |
| Length | About 940 words, 6 pages double-spaced |
| Format | APA 7 student paper |
| School | Purdue University Global |
| Program | BS in Business Administration |
| Updated | October 2026 |
Free sample paper for MT361 Unit 9
An Owner in Every Row: An MT361 Unit 9 Transaction Timeline From Acceptance to Closing
[Student Name]
Purdue University Global
MT361: Foundations of Real Estate Practice
Unit 9 Transaction Timeline
[Instructor Name]
[Date]
The transaction, parties and the state of Calder are composite; the federal rules cited are real, and the state attorney-review period is illustrative.
Why Ownership Organizes the Timeline
Chronology organizes the table, but ownership organizes the analysis, because a deadline nobody owns is the one that lapses. Each row gives the date, the task, the party responsible and what happens if the task is late. Six parties appear: the buyers, the sellers, the buyers' lender, the title company, the listing licensee and the buyers' licensee.
The Dated Table
Monday, April 13: contract accepted. Owner: both licensees, who circulate the signed contract that day. Miss: every later date shifts.
Wednesday, April 15: earnest money of $10,000 delivered to the title company, and the buyers apply for their loan. Owner: buyers. Miss: the sellers may declare a default under the contract.
Thursday, April 16: attorney review ends, three business days after acceptance under Calder's rules. Owner: each side's attorney. Miss: the contract stands as signed.
Monday, April 20: the lender delivers the Loan Estimate, three business days after the application. Owner: lender. Miss: a regulatory violation and a delay to the loan.
Monday, April 20: the seven-day inspection period ends, including the lead-based paint risk assessment the buyers ordered for the 1962 house (Opportunity to conduct an evaluation, 2024). Owner: buyers. Miss: the buyers lose the right to withdraw for inspection findings.
Monday, April 27: title commitment issued. Owner: title company. Miss: unknown liens surface too late to clear.
Week of April 27: sewer lateral lining completed, as agreed at inspection. Owner: sellers. Miss: the buyers may refuse to close or demand a credit.
Wednesday, April 29: appraisal report received. Owner: lender. Miss: the financing contingency deadline arrives without a value.
Monday, May 4: loan commitment due; the financing contingency ends. Owner: lender for the commitment, buyers for any notice of withdrawal. Miss: the buyers lose financing protection, and their earnest money becomes at risk.
Friday, May 8: release of the paid 1998 mortgage recorded. Owner: title company. Miss: closing is at risk.
Saturday, May 9: the buyers receive the Closing Disclosure. Owner: lender. Miss: closing cannot occur on May 13.
Tuesday, May 12: final walk-through. Owner: buyers and buyers' licensee. Miss: the buyers close without confirming the repair.
Wednesday, May 13: closing and funding. Owner: title company.
Three Clocks, Not One
Contract deadlines count calendar days, as the contract specifies, so the inspection period ends seven days after acceptance regardless of weekends. Calder's attorney review counts business days, which is why it ends on Thursday, April 16, rather than on a calendar count. And the federal Closing Disclosure rule uses its own definition: for that rule, a business day is every calendar day except Sundays and federal public holidays (Certain mortgage and variable-rate transactions, 2024). The timeline labels which clock each row follows.
A deadline nobody owns is the one that lapses, so every row names a single party who answers for it.
Saturday, May 9
The Closing Disclosure must be received by the buyers at least three business days before consummation. Counting back from a Wednesday closing on May 13, Tuesday and Monday count, Sunday does not, and Saturday does, so the latest receipt date is Saturday, May 9. The timeline sets the lender's target at Thursday, May 7, to leave a margin, and notes that certain changes to the loan after the disclosure, such as an increase in the annual percentage rate beyond the allowed tolerance or a change in loan product, would require a new disclosure and a new three-day wait.
The Swim-Lane Chart
The chart lays the same dates across six horizontal lanes, one for each party, so that every handoff is visible: the earnest money moving from the buyers' lane to the title company's, the appraisal moving from the lender to the buyers, the repair receipt moving from the sellers to the buyers' licensee. A handoff that crosses lanes is where a task is most often dropped, and the chart puts each one in view.
Three Points Where the File Could Slip
The sewer repair. Agreed at inspection, the lateral lining must be finished, invoiced and receipted before the walk-through. The timeline books the contractor for the week of April 27 and leaves the May 12 walk-through to confirm the work. Fallback: if the work is not complete by May 8, the parties sign an amendment converting the repair to a $7,800 credit.
A 1998 mortgage still of record. The title commitment shows a lien that the sellers paid off years ago but that was never released in the public records. The title company must obtain a release from the old lender's successor. Fallback: if the release is not recorded by May 8, the title company considers an indemnity or the closing moves.
The disclosure waiting period. If the lender changes the loan after May 9 in a way that restarts the wait, closing cannot occur on May 13. Fallback: the parties agree in advance to a closing date of May 18 if needed, and the sellers' movers are booked with a flexible window.
Communication Plan
The listing licensee sends both sides a status note every Monday and Thursday, listing completed rows and the next three deadlines. Ling and Archer (2021) present closing as a sequence of tasks shared among lenders, title agents, buyers and sellers, and a fixed reporting rhythm keeps every party looking at the same list.
References
Certain mortgage and variable-rate transactions, 12 C.F.R. § 1026.19 (2024).
Ling, D. C., & Archer, W. R. (2021). Real estate principles: A value approach (6th ed.). McGraw Hill.
Opportunity to conduct an evaluation, 40 C.F.R. § 745.110 (2024).
Reading the MT 361 Unit 9 instructions
Unit 9 asks students to build a timeline for a pending sale from acceptance to closing. Each deadline should be dated, assigned to a responsible party and paired with the consequence of missing it. Instructors expect students to count days correctly, noting where federal or state rules use a different definition of a business day than the contract. The TILA-RESPA integrated disclosures, the Loan Estimate and Closing Disclosure, belong on the timeline with their timing rules. A visual such as a swim-lane chart is commonly required. Students should identify the points where the transaction is most likely to slip and give each a fallback. Title issues and agreed repairs are typical risks, and each needs a date after which closing is in doubt.
How the MT 361 Unit 9 example is put together
An opening section explains why ownership, not chronology, organizes the analysis. The dated table follows, thirteen rows each with a task, an owner and the cost of a miss, including the lead risk assessment. A section on three clocks explains why the inspection, attorney review and Closing Disclosure count days differently, under a highlighted line about deadlines nobody owns. The Saturday, May 9 date is worked out step by step, with the lender's earlier target and the changes that would restart the wait. The swim-lane chart is described by its handoffs, such as the repair receipt passing from the sellers to the buyers' licensee. Three risk points get fallbacks, and a communication plan closes it.
MT361 Unit 9 rubric: what earns full points
Transaction timelines are usually graded on accuracy of dates, assignment of responsibility, correct use of federal timing rules and quality of the risk analysis. Every date should follow from the contract and the rules, and a grader should be able to verify each one. Rubrics reward naming a single owner for each task. Applying the Closing Disclosure rule's business-day definition correctly is a common test. A visual that shows handoffs between parties earns credit for clarity. Risk points with fallback dates show the student anticipates problems. A communication plan shows the timeline will be used. Citations to the federal regulations follow APA 7, and day counts are labeled by clock.
MT361 Unit 9 help: mistakes that cost points
Timelines often list tasks without owners, which hides the deadline most likely to lapse. Another frequent mistake is counting every deadline the same way, when the contract, the state and federal rules may each count days differently. The Closing Disclosure date is often placed on a weekday by habit rather than by the rule. Title problems, such as an old lien never released, are rarely anticipated. Some timelines stop at closing without saying how the parties will be kept informed along the way. Before finalizing, read each row and ask who will be blamed if it is late. If the answer is everyone, the row needs a single owner.
Get an MT361 Unit 9 example written to your instructions
Key terms from the accepted contract in the Unit 9 materials matter most, above all the acceptance date and contingency periods, plus the governing state where one is given. Attach the rubric too; a free first custom timeline arrives in 24-48h, every deadline dated and owned, each clock labeled, and the weak points given fallback dates. The paper above is an original model document written by our desk, not a submitted student paper and not an official Purdue University Global document.
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MT361 Unit 9 questions, answered
What is the difference between the Loan Estimate and the Closing Disclosure?
Both are federal disclosures under the TILA-RESPA integrated rules. The Loan Estimate goes to the borrower within three business days of a loan application and summarizes expected terms and costs. The Closing Disclosure gives the final terms and must be received at least three business days before consummation. A timeline should place both, with the correct counting rule for each.
Why do some timelines show funding and recording after closing?
Because signing, funding and recording are separate steps. In some states the lender funds at the closing table; in others funds are released after documents are reviewed or recorded, sometimes a day or more later. Possession may depend on funding. Since practice varies by state, bracket the funding rule or name the state whose practice you follow.
Where does RESPA fit into a transaction timeline?
Besides the integrated disclosures, the Real Estate Settlement Procedures Act of 1974 prohibits kickbacks and unearned fees for referring settlement services, and requires disclosure of affiliated business arrangements. A timeline paper might note it where the buyer chooses a title company or lender, since a licensee's referral at that point must follow those rules.
Where can I find a free MT361 Unit 9 sample paper?
The full MT361 Unit 9 transaction timeline is printed here, with thirteen dated tasks, an owner for each and fallbacks for three risk points.
Why is the Closing Disclosure due on a Saturday in the MT361 Unit 9 sample?
For that federal rule, every day except Sundays and federal holidays counts as a business day, so three business days before a Wednesday closing falls on Saturday.