Offer is Received

An offer is received. After a few rounds of experienced negotiation, the Kennedys accept an offer. The buyer arranges an inspection, and the Kennedys fix the agreed upon repairs.
Meanwhile the escrow team collects all the documents and holds the earnest money.
The appraisal by the lender is “at value.” The buyer’s loan will be funded.
Escrow collects the rest of the paperwork and schedules a signing
Recording numbers are filed, and the property closes. The new owners move in, and the Kennedys move to their new destination.