Seller: What To Expect From Listing To Sold
Step One: A purchase offer will be presented to you from the Buyer through the listing agent. The Buyer and Seller will negotiate the terms of the offer. Once all signatures are received you will get a completely executed purchase offer, signed by all parties.
Step Two: INSPECTIONS: If you live in the property, an appointment will be set with you for the inspectors to have access to the property. If a tenant lives in the property, the appointment will be made with them, but an email will be sent to you regarding the appointment. Make sure the inspector has access to basement or crawl space.
The first date is the Objection Deadline. This is the date by which the Buyer must give you written notice of any conditions they object to.
The next date is the Resolution Deadline. This is the date that the Buyer and Seller must resolve any repairs needed.
Step Three: APPRAISAL: The appointment for the appraiser obtaining access to the property will be set with you or whoever resides in the property. An email will go to you showing the date and time they will be there. If there is a crawl space or basement, make sure the area is clear for them to have access. It will take a week or so for the appraiser to finalize the appraisal and send to the lender. The underwriter then will review the appraisal.
Step Four: A day or two before closing the lender and title company you have selected will prepare a Closing Statement for you and send it to the agent. After the agent and our Closing Coordinator reviews and makes any necessary corrections, you will receive a copy for your review.
Step Five: UTILITIES: A few days before closing call the utility companies and tell them closing is scheduled for what day and that you will need a final reading. INSURANCE: The day of closing or the day before call your insurance company to cancel your insurance on the property.
Step Six: CLOSING DAY: Buyer will probably do a walk through of the property. The lender, Seller, Buyer and agent/agents will meet at the title company as previously set. You will turn all keys, codes and garage door openers to the Buyers.