Congratulations! You have received a satisfactory offer on your home and are ready to proceed with its sale. Here is a brief summary of what is involved in the process.
The buyers, and their attorney, have five days after your acceptance of their offer to provide us with what is called a modification letter. This letter may propose some legal changes to the contract and ask you to make certain repairs to the home. We will work with you to negotiate over the issues raised, and you’ll have the option to either make the repairs or propose a dollar amount as a “credit” to cover the cost of the buyers making the repairs themselves. (In most cases, the buyers will want you to hire someone to make the repairs.)
Once the modification process is complete, you will have to wait for the buyer’s lender to complete the loan approval process. (You’ll find more information about that in the “Loan Process” section of this site.) Meanwhile, we will be gathering and preparing all the documents necessary to sell your home. We will provide you with a checklist detailing any documents and other information we’ll need from you. Once we receive the “Clear to Close” file from the buyer’s lender, we will schedule a time and place for the closing with the buyer and lender. Approximately a week before the closing, we will have prepared all the necessary docuements, including the Deed, Affidavit of Title and Bill of Sale, to name a few. We will offer you the opportunity to sign these documents in advance and simply have us attend the closing on your behalf. Today, 99% of sellers skip the closing. And why not, you probably have better things to do, right?
Click here to download our Home Sales Process diagram. It provides a convenient way to visualize the process described above.