11/05/2023
If you're thinking of selling, it's important to understand the process. One of the biggest milestones during the listing process is accepting an offer. And although there may have been some negotiations that took place, you ultimately have reached mutually agreeable terms! Once this happens, all parties (buyers and sellers) sign the contract, and the buyer places an earnest money deposit into escrow.
If a due diligence period has been agreed to, the buyers should arrange any/all inspections in accordance with the timeline. Further negotiations may take place depending on the terms of the initial contract.
The next step would be to sign the purchase and sale contract or an addendum to the existing contract if anything has changed. At this point, the buyer typically puts down a 2nd deposit into escrow and then works with their lender to meet the requirements for closing.
While the file is in underwriting, the lender may request an appraisal, and there will also be a title search done to ensure there are no unexpected liens against the property. This is when you should focus your time on packing and preparing for your move. If there are any inspections required of you, now is also the time to get those accomplished if you haven't already done so.
Once the buyer has officially met all of their financing obligations, the lender will issue a clear to close, and a final walk-through of the property will be scheduled. And then it's off to closing!
As my client, please be rest assured that I will update you throughout the process and monitor the timeline to ensure you experience a smooth process.
If you're thinking of selling, contact me. I'll let you know the market value of your home and my plan to get you happily to the closing table.
