Selling: A Step by Step Guide
Whether you’re planning to downsize, trade up or relocate out of the area, when you choose to work with me, I realize that you are entrusting me to list and sell one of your most valuable assets.
Selling your property is a big decision. What determines how much you will get from your home will be a function of the Housing Market, the Condition of your house and the Agent you partner with. How your home is priced, how it shows and how it’s marketed makes all the difference, so it’s important to work with an agent you can trust to get the job done perfectly.
With me as your agent, you're not just getting a professional who uses the best tools and technology to sell your property for the maximum return on your investment, in the least amount of time, with the least amount of stress to you. You're getting transparency and instant communication throughout the entire process, so you can relax knowing every detail is taken care of.
Escrow
Once the contract is signed, the escrow period begins. Escrow is the time period between your offer being accepted and close of escrow. Think of escrow as a neutral zone, like Switzerland. Funds are held by the Escrow company so that both parties have time to comply with the terms of the contract and the transfer of title can be prepared. The length is written into the offer and varies. Typically, escrow is 30-45 days however it can be much shorter in all-cash deals.
Why do we need Escrow?
It is important that no funds or property change hands until the instructions in the transaction have been followed and completed. This is for the protection of the buyer, seller, lender, and borrower. The escrow holder is obligated to safeguard the funds and documents while in their possession and disperse funds and convey title ONLY when all provisions of the escrow have been satisfied.
The escrow officer is a third and entirely neutral party and does not represent the interests of anyone in the transaction.
Several things need to be accomplished during a typical escrow and we’ll be by your side to interpret the documents and guide you through the process.
- A refundable deposit (usually 3% of the purchase price) is placed and held by the escrow company.
- Buyer’s lender prepares loan documents and collects necessary information for approval.
- Review and sign disclosures (some may be provided by the Buyer’s agent).
- Any inspections mandated in the offer are performed.
- Property appraisal completed by the lender.
- Title documents are signed and Seller provides pay off information
- Contingencies removed to meet deadlines.
- Final walk through to make certain that the property is in the same condition as it was when the Buyer signed the contract.
- Escrow closes and the property transfers when all conditions have been satisfied.
