What is a key component of a transaction after a contract is signed?

The execution of sale is a crucial component of a transaction after a contract is signed because it signifies the completion of the deal and the official transfer of ownership from the seller to the buyer. After the commitment to the terms outlined in the contract, the execution of sale involves finalizing all financial and legal obligations, which may include signing additional documents, transferring funds, and delivering the property.

This step is essential because it confirms that all parties have adhered to the conditions laid out in the contract, leading to the exchange of the title and the completion of the transaction. The execution of sale marks the culmination of the entire process, ensuring that the buyer receives what was promised in the contract while legally freeing the seller from associated obligations.

The other components mentioned, such as open houses, due diligence, and inspection periods, are typically preparatory steps that occur before or during the contract phase; they help inform the buyer's or seller's decisions but do not directly finalize the transaction.