From Offer to Closing

Once an offer has been presented the negotiating process begins. There are liable to be numerous counter-offers going back and forth between you and the buyer. There are a few important things to remember:

· Until an offer has been accepted and agreed to by both you and the buyer it is just that – an offer. The buyer could withdraw his offer at any time prior to it being agreed to and signed by all parties.

· If your contract calls for an attorney review, please choose your counsel as quickly as possible and let your agent know who you’ve chosen. Your attorney has a limited amount of time to protect your interest.

· Be sure to comply with all requests of your attorney and the buyer’s lender after the mortgage application has been done. Not accommodating the appraiser or providing information they need can jeopardize your buyer’s getting their mortgage on time.

· Generally, the buyer accompanies the home inspector at the inspection. Check with your agent as to whether you need to be there. Please allow at least 2 to 3 hours for an average inspection. More time may be necessary for a large home.

· Your agent will act as coordinator for all activities from this point and will keep everyone in the loop as far as what is going on. The lender, home inspector, both attorneys, the other REALTOR, the title company (or escrow agent) will all be performing necessary duties during this time. If you are also purchasing a new home, your agent will coordinate that transaction as well.

· If necessary your agent and your attorney will work together to negotiate any repairs that were noted during the home inspection.

· The buyer’s walk thru will be scheduled as per your sales contract. Your agent will schedule this with you.. It should happen just prior to the closing and as a reminder – the property is to be in the same condition it was in at the time you and the buyer agreed to the sale.

· If all of this sounds a little overwhelming – don’t worry – you’re in good hands. Your agent has been through this many times and will be there for you during the entire process. Relax and enjoy the experience.