Loan Approval
Your contract should specify the price, type of financing, the terms, the date by which the buyer's lender will provide you with loan approval, date of closing, date of possession and any other terms and conditions you would like. If you require earnest money, who will hold it and under what terms will it be released.

Make the House Available
Most buyers will need access to your property for various agents working on their behalf. A pest inspector and home inspector will actually need to go inside your home. A surveyor and appraiser will need to have permission to come onto your property. The buyer and the home inspector may need to come back to check repair work prior to closing.

Making Repairs
Your contract should specify that all inspections be completed by a certain date so that you will have ample time to make repairs prior to closing. Which repairs you make depends upon the buyer and their lender. All repairs are negotiable, but structural, safety, certain operational, and water damage repairs are generally expected to be performed. Most buyers want those items repaired before closing, but there are cases when the buyer may want money instead.

Deed Preparation
You may have their closing attorney or your real estate attorney prepare the deed prior to closing. Whoever does it will want a copy of the contract.

The Closing
The sellers sign whatever needs their signature prior to closing. Usually the only ones to attend the closing are the buyers, their agent, the closing attorney and the seller's agent if one is involved.

 

Many people are very comfortable in the role of the "For Sale By Owner." You may find that you are one of those people. If you determine some time in the future that you would like to resume a normal life and let an experienced broker take on this process, please keep me in mind. And if you would like for me to help you find your next home (that fee is covered by the seller), feel free to contact me.

Bob Jamieson, Broker
CRS, ABR, GRI

Intracoastal Realty Corporation
1900 Eastwood Road at Lumina Station
Wilmington, North Carolina 28403

Toll Free 877.505.5272
Business 910.232.1893
Fax 910.397.2825

email bob@bobjamieson.com
web www.bobjamieson.com