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Q: When selling a property what are the steps after accepting an offer for the Seller?


By Roxanne Johnson

Mon, Jun 11th, 2012
Posted in All Ask the Expert

RE/MAX Select Properties

888-839-2142 • roxanne@harmonytel.netwww.remax-selectproperties.com

A:
When accepting an offer on your property your real estate agent will follow the steps needed to move forward with the sale and guide you through the process.

1. Deliver your Abstract or Owners Title Insurance Policy to your real estate agent.

2. The Home Inspection usually is scheduled within 5-10 days after acceptance of the offer.

3. Appraisal of your property is usually within the first 10-14 days after the offer is accepted.

4. If you agreed in the Purchase Agreement to repair or replace items, it is best to address those items prior to the Home Inspection and Appraisal to save you a re-inspection fee for the items not being completed prior to Inspections.

5. Your attorney will also need your social security numbers, full legal names of all owners and spouses of the real estate being sold.

6. Loan Payoff- Your attorney will need the name of the Mortgage Holder, loan number, and contact information to request a loan payoff for the date of closing.

7. Call the utility companies 5-7 days prior to closing to have the utilities transferred to the new owner on the date of closing.

8. Keep your home owners insurance active through the date of closing to ensure you are covered. Cancel your insurance once your property has closed.

We discuss in detail with our clients the contingencies of the transactions.

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