Getting an offer is an exciting time for any seller. Our agents will work closely with you to ensure the transaction runs smoothly. Following is a list of steps outlining the process.
- Presenting the offer
One of our agents will call you immediately to arrange a meeting or to discuss the offer over the phone. We will review all of the terms and conditions of the offer with you and answer any questions you may have. - You will have three options:
- Accept the offer exactly as presented, and your home is sold, except for contingencies.
- Make a counter proposal. When you change the prospect’s contract, it is voided and the buyer may choose not to purchase. However, typically there is room for negotiation and you may counter one or more terms until both buyer and seller agree.
- Reject the offer.
- When a contract becomes binding
If you accept an offer, you should consider your contract binding once both parties have signed the contract. A copy of the finalized contract will be delivered to all involved parties (buyer, seller, both attorneys, both agents, and usually a lender). You should consult your attorney for final answers regarding the legality of contract. - Finalizing all conditions
- If the contract states that financing will be provided by a lender, it is the buyer’s responsibility to apply for the mortgage loan as soon as possible. The buyer will have a specified number of days to procure the loan, as stated in the contract. The lending institution will verify the buyer’s credit and work records, determine his or her ability to meet the monthly obligations of the loan, and appraise your house for purposes of loan value. When all of the information is received, the mortgage loan underwriter will either approve or disapprove the loan.
- After the loan is approved, title reports, plats of survey, tax liabilities and other legal documents need to be updated and prepared along with settlement documents including mortgage and note.
- Prior to the time of closing, your buyer may be entitled to a physical inspection of the home. An appointment will be made through Beyond Properties. The buyer may or may not be accompanied by the cooperating real estate agent or his or her inspector.
- At the settlement, all parties will sign documents finalizing the sale, and funds will be distributed. Keys will be delivered to the buyer at the closing, or when possession of the property is transferred.
