A Buyer is Ready to Present an Offer!
When an offer is presented, Tami Winbury will advise and help you to obtain the best possible price and terms. Understanding the standard forms and the many transactional issues is key to negotiating the best terms to meet your individual needs. Making sure buyers are pre-qualified is of utmost importance in negotiating a successful sale. Tami will promote your interests and assist in developing a clear and binding transaction.
Typically an offer is initiated by the buyer through their Realtor and includes the following information:
- The amount the buyer is willing to pay
- Mortgage amount, if any
- Closing and occupancy dates
- Contingencies, such as mortgage commitment, building inspections and pest inspections to include where appropriate (but not limited to): termite, pest, radon, water potability, well, lead, septic.
- Any personal property specifically included or excluded
- If the offer is not acceptable to you, further negotiations may be necessary to reach terms agreeable to both you and the buyer. Because counter-offers are common (any change in the offer can be considered a counter-offer) it is important that you remain in close contact with Tami Winbury during the negotiation process so that proposed changes can be reviewed and responded to quickly.
You have an Acceptable Offer!
Timing is critical at this stage! Escrow is opened and the contingency period begins. The typical contingency period is 17 days. This is when the Buyer completes their due diligence and all inspections are complete. You will be contacted by the Escrow Company who acts as a neutral 3rd party for Buyer and Seller and receive any instructions needed to complete paperwork.
Timing is critical at this stage! Escrow is opened and the contingency period begins. The typical contingency period is 17 days. This is when the Buyer completes their due diligence and all inspections are complete. You will be contacted by the Escrow Company who acts as a neutral 3rd party for Buyer and Seller and receive any instructions needed to complete paperwork.
Between Contract and Closing
Throughout the transaction, Tami will closely monitor the progress of all contingencies to make certain that all deadlines are met. 5 days prior to the day of closing, the buyer will have a “final walkthrough” to make certain that the house is left in “broom clean” condition and has been thoroughly vacated.
What to expect at the Closing
The closing is a formal process where all parties sign all of the necessary paperwork needed to complete the transaction. Title to the property is transferred from you to the buyer. The buyer receives the house-keys and you receive payment for the house! From the amount credited to you, the title representative subtracts the funds to pay off the existing mortgage and other transaction costs. Deeds, loan papers, and other documents are prepared, signed and ultimately filed with local property record office.
Call Tami when you are ready to list your house for sale!
Tami Winbury
Keller Williams Realty
805-798-3412
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