There’s a lot to think about when selling a home. Here are some general guidelines showing the home selling process.
You will want your home to look it’s best when potential buyers are seeing it. Handling necessary repairs, keeping the home spotlessly clean, and removing clutter are just a few things that you will need to do. Note – Be ready for some inconvenience. You may have to be ready for home showings quickly, so keeping the home clean and tidy at all times is important. This can be a challenge at times, so be sure to plan ahead.
Receiving An Offer On Your Home
When you receive an offer on your home you will need to review it thoroughly. You may go back and forth a few times before arriving on an agreement between the buyer and yourself. Be ready to sign a purchase and sales agreement (the contract) once all parties have agreed on the finalized terms.
Typically the buyer will have inspections done on the home. The inspection period is shown on the contract.
This process will be started by the title company.
Any requests for repairs to be made to the home by the seller will be made after the home inspection is completed.
The lender will order an appraisal of the home.
If a new survey of the property is needed it should be ordered so it can be completed and received per the time frame shown in the contract.
The title search is completed when the title is cleared. The title company should advise when everything is clear.
Once the buyer’s loan has been approved you are ready to prepare for closing.
The closing date is coordinated with the closing attorney/title company’s office once the mortgage is approved and title is cleared.
This will be received by all parties to review after the title is cleared and the mortgage is approved.
Final Walk Through
The buyer will usually take a final walk through of the home to insure everything is in good order prior to closing.
It is at this time you sign your closing paperwork. You will need to have keys to the property ready to turn over to the new owner at time of possession of the property (usually at closing).