- Contract terms, contingencies and addendum's
- Information about the buyer (if available)
- A record of recent showings
- The most recent market information
When a contract is presented, on your property, you may...
- Accept it
- Reject it
- Make a counteroffer
As a Realtor my job is to negotiate the best possible terms on your behalf. After the contract is accepted ,we are there to get you through to a smooth closing.
The Steps: From Offer, to Accepted Contract, to Closing.
- The purchaser applies for financing as soon as possible after meeting with the sales associate.
- Purchaser makes an offer with an initial deposit
- When the offer is accepted, it becomes a binding contract.
- The home inspection is done if called for in the contract, and purchaser releases inspection contingency if no major problems are found.
- Seller, or Seller's agent, provides the lender with a current lien holder's name, address, and account number and a copy of the deed.
- Lender orders the appraisal
- Appraiser calls seller or seller's agent to set appraisal appointment. Once the processor and originator receive and review the documentation, and establish it is complete and correct, the loan is packaged and sent to underwriting.
- Underwriting approves (with or without conditions) or rejects the loan request, or sends for further information.
- Once all additional requirements are satisfied, then the loan is approved and all parties are notified.
- Insurance, necessary inspections, repairs, survey, title, etc., are ordered. Closing is scheduled by the lender and all parties are notified.
- The closing takes place and title is transferred from the seller to the purchaser. The new deed and mortgage are recorded and made part of the public record at the County Clerk's office.
