An acceptable offer depends on many different things:
This negotiating process can at times seem very complicated. However, if you are equipped with the right agent, all of this can be made hassle-free.
During the negotiating process of the sale of a home, the seller can react in one of three different ways:
There are numerous types of inspections. An inspection is meant to evaluate, at minimum, the structural and mechanical condition of a property. It is not the same as an appraisal which evaluates the market value of a property. This inspection is performed by an unbiased third party and is used to evaluate the condition of the property for sale. Obtaining an inspection is the right of the buyer; and the expense of the inspection is borne by the buyer. This report along with an addendum asking for any defects found that the buyer wants addressed will be submitted to your listing agent. You, as the Seller, can do one of three things:
Every inspection should include material items that could be defective within the property to include an evaluation of at least the following:
What the inspection should not include:
The closing process is always changing. It may be referred to "settlement"or "escrow" in different parts of the county. With increased technology, most closings are completely automated and both parties do not have to be present at the same time to sign.
Closings usually take about 30 days to complete. This mainly depends on the buyer's financing availability, successful home inspection completion, and various lender conditions (ex. title search, title insurance, termite inspections, surveys and appraisals).
The closing process is the transfer of the title of the property from the buyer to the seller. The buyer will receive the keys to the home or the deed to the land, while the seller receives payment for the property. The amount the seller receives is based upon the amount that is still owed on the mortgage, any outstanding fees or taxes and any additional closing costs. All legal papers are filed with the local record office.
It is this step where the buyers and sellers do very little. It is important as the seller to take a final walk through the property to make sure the property's condition has not changed. It is equally important for both the buyer and seller to make sure the paperwork they are signing reflects the agreement of the original sale.