While there’s no such thing as a typical home selling process or sale – each has a character and a flow of its own – there are certain aspects you can expect. While local real estate practices may vary, here are the basic activities that occur during the transaction, from receiving an offer to closing escrow.
Managing the Details
Once you have negotiated a contract and agreed on a sales price, the next phase of our job begins. Below is a list of some of the details I will be managing through the home selling process.
- I will constantly check with the title company to assess when they need additional information and whether there will be any problems that could affect obtaining title.
- I ensure that both you and your Buyer receive copies of all documents pertaining to the transaction. I will have the Buyer sign to acknowledge that he/she has received his/her copies.
- I will make sure that the Buyer meets and removes all contingencies within the time limit provided or get an extension, if needed, signed by both you and the Buyer.
- I will keep you abreast of the Buyer’s application for a loan and the progress of the appraisal on your home.
- I will work with the appraiser to arrange for entry to the property and to answer any questions he/she may have about the home or neighborhood. I will also provide the appraiser with the most recent comparable sales in the area.
- I will make sure that the Buyer increases their deposit in a timely manner.
- I will coordinate and attend as many inspections as possible and keep you informed of all findings.
- Once the inspections are complete, I will negotiate for you if any problems arise.
- I will cooperate with the Buyer and others involved ensuring that corrective work is completed according to the terms of the contract.
- I will ensure that all documents are ordered and drawn, including your loan pay-off and insurance for the Buyer.
- I will do my best to have your closing papers drawn one week before Close of Escrow (COE) so that if any problems arise, I can solve them while remaining within the time frame you expect.
- If you prefer, I will deliver your escrow check to you personally. I am also happy to coordinate move-in dates.
Who Pays For What?
|A major question in every escrow is: “Who pays for what?” The answers vary by county ordinances and standard practices. What is listed below are “customary” practices. All fees charged are governed by terms of the sales contract and other written escrow instructions. Note: on some FHA, VA or other government-backed loans, the buyer will pay some fees that governmental regulations will not allow you to pay.|
|Seller’s Generally Pay:
||Buyer’s Generally Pay: