Sellers On The Move

I often write blogs for buyers giving the breakdown of what happens during the process, not to leave sellers out I have decided to write this blog reviewing the steps they will be taking to get out of your current home and onto your new home !

Most would think that sellers have the easy part, they just sit back and wait for the closing to be set but their is still a lot to be done ! Homeowners who are buying a new home are usually diligent about getting their search underway before their current home is even in contract.  This is your best plan, if you need the sale of your current home to make the purchase you won't be able to put in any offers until your home is in full contract, but keeping a close eye on the market will allow you a jump start after your home has gone to contract.  

Before your home goes to contract and you begin your search as the buyer these next 3 steps are crucial and the most important ! 

Home Inspections: I did write an entire blog about what sellers and buyers can expect which you can find HERE but I will quickly touch base again on these important factors.

• Take the time during your home inspection to leave the premises, allow your agent to be at the home during the inspection as your representative.  By allowing your agent to be there you give the buyers a bit of space to ask questions they may have, but still gives you a set of eyes and ears on the premises.  You will want to stay in communication with your Realtor in case any questions come up.  

• Be reasonable, if one home inspector finds it than another home inspector most likely find the same thing.  In order to prevent any unexpected issues arise I have a pre-home inspection done when I first list the home this way you can make small repairs if needed and in the worst case scenario get estimates for any larger issues you might uncover.  

Signing Your Contract: 

• Many buyers and sellers don't realize that their are actually two very important dates that are specified in the contract signing.  First it specifies the amount of time your buyer will have to obtain a mortgage commitment, and secondly it gives you the on or about date.  Normally your buyer is given 30-45 days to obtain the commitment and 30 days for the on or about date to close.  This should only amount in total to 6 weeks from contract signing, the reason they do not strictly base the closing date on the mortgage commitment is because the tittle will still need to be cleared. Any issues that come up are usually fixed by sellers providing paperwork to clear any of the imperfections on the title, so doing a preliminary title report can also give sellers a heads up of any potential issues.  

Closing: 

• If your purchasing another home you will need to make sure that as soon as you went to contract that you found your new home.  It is always important to use a Full Service Brokerage, but it is even more important when you will be selling and than buying this way your agent will be able to help you with all the services you will need from them.  Your full service agent will be able to communicate with everyone about the progress of all of your deals to make sure the dates are coinciding and that no one will be left homeless after any of the closings take place.  This may seem like it could never happen but unfortunately I have seen agents lacking in one area cause a domino effect that causes headaches for all involved including the other agents, since they are often the ones left to break the bad news.  

• You must respect that your buyers have given someone notice that they are leaving, and their will be a domino affect for them as well.  Keep in mind they will also have locked in a rate and a commitment date based on your on or about closing date.  Just like they can not expect you to just up and leave because they want in, you can't push the date to the limit because they have had to make many arrangements and spend money on lock-ins to be able to purchase your home.  

You will notice I mentioned communication, fairness, and respect quite a bit in this blog, which I normally do not push onto my readers but these are the 3 things that can help prevent ripples from turning into tidal waves of frustration for everyone !