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In this course segment, we recap the borrowing process. We started with a borrower who underwent pre-qualification, receiving a form for that purpose. The borrower then engaged a real estate agent to find a house, made an offer, and obtained an accepted offer, leading to an executed contract. "Executed" means signed by all parties. With the purchase contract in hand, we now have a crucial piece of information: the property address. This triggers the need for initial disclosures, which will be elaborated on shortly. The real estate agent typically forwards the contract to the title company as the next step.