Once we have negotiated with the buyer and have mutual acceptance on your home, I will still be hard at work with the goal of getting the transaction to close. There are a number of obstacles that still need to be overcome including:
- Inspection – Depending on the market and the contingencies written in the contract, the buyer may have an opportunity to have a professional inspection of the property, note major and minor repair issues, and negotiate with you to have these fixed before the property changes hands.
- Appraisal – Once the inspection has been resolved and if the buyer is getting a loan, the buyer’s lender will order an appraisal of the property to determine market value. Different markets present different challenges for appraisers, but I will be prepared to provide the appraiser the market information needed to make their determination.
- Buyer Loan – The buyer may be pre-approved, but do they have all their ducks in a row to be able to close? I will do my due diligence up front to avoid this situation, but it does happen from time to time.
- Escrow – There may be other issues that need to be addressed before
closing. These could be ownership or lien issues with title, HOA issues, and even determining payoff amounts with your mortgage company.
As we work through each issue, we will get one step closer to the close of your transaction.
Once your transaction closes, I will coordinate getting things like keys and garage remotes from you to the buyer.