Sellers

“The higher the price, the better the offer.” Do not let yourself be fooled by this popular misconception. Price is not always the determining factor when accepting an offer for several important reasons: the initial offer is usually not final, and there are a number of terms and conditions that may influence the final outcome of a price. We will help you thoroughly evaluate every proposal without compromising your marketing position.

We take the ethical responsibility of fairly negotiating contractual terms very seriously. It is our job to find an agreement from a qualified buyer that can actually close. We may generate multiple offers for you to review before ratifying the one you judge to be the most suitable for you.  We will guarantee a thorough and objective assessment of each offer to help you make the right choice.

A Residential Purchase Agreement is a legal arrangement between a purchaser and the property’s seller. An initial deposit will be required within 3 days of the contract date.  The contract may specify that the deposit will be increased up to 3% of the purchase price after the inspections contingency is removed.

Most buyers will have the property inspected by a licensed property inspector within the time frame that was agreed upon in the effective contract to purchase. Some buyers will have several different inspectors inspect the property if they wish to obtain professional opinions from inspectors who specialize in a specific area (eg. roof, HVAC, structure). If the agreement is conditional upon financing, then the property will be appraised by a licensed appraiser to determine the value for the lending institution via third party. This is done so that the lending institution can confirm their investment in your property is accurate.

A title company will be selected as the closing agent, whose job is to examine and insure a clear title to real estate. After researching the complete recorded history of your property, they will certify that 1) your title is free and clear of encumbrances (eg. mortgages, leases, or restrictions, liens) by the date of closing; and 2) all new encumbrances are duly included in the title.

Contingency is a condition that must be met before a contract becomes legally binding. Before completing his or her purchase of your property, the buyer goes over every aspect of the property.  These include:

• Obtaining financing and insurance;
• Reviewing all pertinent documents, such as preliminary title reports and disclosure documents; and
• Inspecting the property. The buyer has the right to determine the condition of your property by subjecting it to a wide range of inspections, such as roof, termite/pest, chimney/fireplace, property boundary survey, well, septic, pool/spa, arborist, mold, lead-based paint, HVAC, etc.

Depending on the outcome of these inspections, one of two things may happen:

1. Either each milestone is successfully closed and the contingencies will be removed, bringing you one step closer to the closing; or
2. The buyer, after reviewing the property and the papers, requests repairs or price credit.

We will work with you to assess the inspection results and guide you through the process to complete the transaction.

As part of the offer process, we will evaluate the financial strength of the buyers.  They will bring a pre-approval letter, a pre-underwritten approval, or proof of funds for a cash purchase.  We will evaluate and confirm their financial abilities prior to acceptance.

After all contingencies are removed, the buyers and sellers will be asked to schedule a time to sign the various documents.  Sellers can sign at most any time and Buyers will need to wait until loan documents are available which is usually closer to close.

Final Walk-Through Inspection

• More of a formality than anything else, the final inspection takes place within 5 days before closing. This is an opportunity for the buyers to verify that the property is in the same condition as at the contract date and that any negotiated repairs are complete.  It is also a chance for the sellers to show how the home systems work.

Cancel Home Services and Utilities

• We will provide a list of useful numbers for the termination of home services and utilities after the closing occurs.

Be Prepared

• We are ready to assist you should an unforeseen glitch pop up, even at this last stage. If something at the property breaks down or the buyers’ loan does not pull through on time, there is no need to worry. We have encountered these problems before so we know how to handle them efficiently and in a stress-free manner.

Closing

• The closing agent will furnish all parties involved with a settlement statement, which summarizes and details the financial transactions enacted in the process. Funds will be wired by the escrow company upon recording notice.  Relax, we have done these hundreds of times and will get you successfully through it all.