It’s finally happened! You Sold your home! YES!!! The moment you’ve been waiting for after all the cleaning, making the home available for impromptu showings and enduring nerve-racking anticipation and hope that a purchasing decision will be made in favor of your home.
But even before the ink starts to dry on the fully executed purchase agreement, you’re wondering what does this mean? Is the home really sold if Inspections need to be cleared and title issues examined? What about the financing…is the Lender absolutely 100% behind the guarantee for the loan commitment? When should you order the moving van?
Signing a purchase agreement to sell your home to a prospective buyer starts a detailed and often complex process in which many aspects of the sale need to be coordinated to conclude in a successfully closed real estate transaction. At Audu Real Estate, our goal is to assist our clients with these details and to relieve the strain and stress of the negotiation process. Here’s what you can expect from our company.
There are many details to coordinate. By some estimates, up to 10 different companies with their various employees will be involved in closing your transaction. These include: the mortgage company, the title company, the other real estate company, the inspection company, the survey company, the home warranty company, the insurance company, the well & septic inspection company, the appraisal company & etc. As you can see, the list can be extensive and this does NOT include additional companies which are involved in REO or Distress sales. Coordination with ALL of these different entities and their representatives is a large part of what keeps us busy AFTER you sign the deal to sell your home!
Inspections are a vital part of the real estate process and often one of the most challenging areas to navigate. So much emotion tends to be involved. As a homeowner, you want the buyer to love your home and although you know it’s not perfect, there is a vested connection which might make you a little sensitive. On the other hand, a prospective buyer may have some anxiety about the true value of their purchase. No one wants to make a poor buying decision. Navigating this ‘sticky’ territory is what we do best. It’s our job to help all parties come to a resolution about the results of the inspection and how to move forward.
Follow-up and Follow-through is where many transactions fall apart. The details matter when it comes to real estate. A missed signature can make a transaction which was a ‘sure thing’ become murky in a hurry. Many aspects of a real estate transaction which is in the ‘Pending’ category are under strict time constraints. For instance, certain inspections have to be conducted within a particular time frame. When follow-through is poorly executed, even a solid transaction can go awry. Our job as REALTORS is to ensure that your transaction stays on schedule.
Staying on schedule requires excellent communication skills. Today, communication flows through multiple channels. We ask our clients how they prefer to communicate. We’ll do whatever it takes to stay in touch. This includes: calls, e-mails, texts and even social media. Not only are we keeping you informed about what is going on with your transaction, communication also involves keeping those other 10 companies we referenced earlier in the loop as well. Good communication is the lubricant that helps to keep the friction down to a minimum.
Negotiations are an ongoing part of the transaction. They can involve all sorts of things. Perhaps, there are some items or belongings which you would like to get rid of, or some repair issues crop up which need to be addressed. Even the closing place and location sometimes become a part of a negotiated solution. At Audu Real Estate, our goal is to create successful outcomes for our clients in the real estate negotiation.
An average transaction can take between 30-45 days to come to a conclusion. The days leading up the closing are often filled with a flurry of activity as various parts of the transaction are completed. Because there are so many moving parts, it’s important to have someone who is the Captain of the Ship. Our job is to navigate your boat into a safe harbor. We review the closing documents for accuracy in terms of reflecting the terms of the purchase agreement. There is coordination with all parties regarding move in/move out dates as well as the transfer of utilities. Well executed closings are like the passing of a baton in a relay race. They are seemless and enable the next party to successfully execute the next stage of the race.
We hope that this has been a helpful article. If you’d like to learn more about what we can do to help you sell your West Michigan home, please give us a call at: 616-791-0511.