Steps To A Successful Closing

As real estate professionals, we handle pricing, marketing, and negotiating. Once the purchase and sale agreements have been signed, there are several steps to take to get the transaction closed:

Step 1 - Removing contingencies: The most common contingencies are financing and the sale of the buyer's current home. These conditions must be removed or waived before the sale can close.

Step 2 - Appraising the property: The buyer's lender requires a formal appraisal to confirm the value of the home, to be used as collateral to secure the loan.

Step 3 - Preparing closing documents: Most often real estate attorneys prepare documents that confirm the transaction, pro-rate funds, and so on.

Step 4 - Signing closing documents: Even after both parties have signed closing documents and deposited funds, the sale may take a few more days to close.

Step 6 - Recording the deed and disbursing funds.

Step 7 - Receiving the proceeds and welcoming the moving van.

Step 8 - Turning over the keys to the buyer.

There are many opportunities for surprises or delays in a transaction. Part of The Davidson Team's expertise is in troubleshooting problems that arise in the closing process and communication. Please email or call us if you have any questions or you would like more information.

11 comments:

workhard said...

HI.. this is so helpful.. Some of the tips you mentioned are really good..

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