Selling your home is not an everyday experience. Other events must also transpire for a timely closing, and Harb & Co. will follow up on these. The buyer has a specific period designated in the Purchase Contract to complete and approve their physical inspection. Sometimes, this can result in the buyer attempting to renegotiate and infrequently resulting in a canceled escrow.
After inspection approval, the appraiser will come to your home and certify the property’s value. As the buyer pays for the appraisal and their inspector, completing these tasks reflects a cash outlay by the buyer. They are both a good indication of the buyer’s commitment to consummating this purchase. Another sign we look for is the buyer’s willingness to complete the endless mounds of paperwork required by their lender. As Phyllis has spent over a decade in the mortgage lending field, she also closely monitors the lender’s progress.
The last several weeks of escrow will be a whirlwind activity.
We will coordinate the buyer’s walkthrough and key exchange and, of course, closely monitor the following:
- When are loan documents (loan contract) arriving at escrow? Are there any outstanding loan contingencies? When is the buyer signing the documents? When will the documents be returned to the lender? Has the lender reviewed and approved the signed documents? Has the lender confirmed the funding? When are the buyer’s remaining funds going to be deposited at escrow? And did these funds arrive as scheduled?
- All of the above must occur on time, or a closing delay could result.
Selling your home is not an everyday experience. This seller’s guide is a brief synopsis of a very complex process. You should discuss your requirements with your Realtor or, in certain instances, an accountant, CPA, escrow, and title officer.
Click here to read: Pricing your home is an art, not a science.
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