What is the most important part of the real estate transaction?

[Terry Lao]

The real estate transaction has many parts, for example, find property, real estate agents, escrow, loan, inspection, offer/acceptance of contract, inspections, etc. What do you think is the most important part of the real estate transaction?

I believe it is the loan, since the majority of people get a mortgage. Unless you pay 100% cash, then it is 3.5 to 25% down, and get a mortgage. I can even pinpoint it further in the loan process, it is your FICO score. You need 740 or higher to get the best rates. 

To remind myself that FICO is the most important aspect of financing, in future, if I get a dog, his name would be FICO ( play on word FIDO).

Terry