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!!!!CONGRATULATIONS!!!!
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You have an officially "Accepted Offer"! Below is what to expect in the coming days! Note, that while the below is as comprehensive as I could possibly make it, each transaction is unique and something may not be accounted for in the breakdown below or not apply to your unique Home Selling Journey! Dates are subject to change! If at any point, there is a question…please do NOT hesitate to reach out!
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Property Address
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Sales Price$280,000 Buyer
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Date Offer Accepted5/1/2019
Earnest Money
$ 2,000.00
Credit to Buyer @ Closing
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Days of Option7Option Fee $ 100.00
Credit to Buyer @ Closing
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Days to Qualify for Loan21
Warranty Credit
$ 450.00
Credit to Buyer @ Closing
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Buyer Loan Approval Due5/22/2019
Buyer's Lender
N/A
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Closing5/6/2019
Title Company
Allegiance Title Company
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ItemDue DateCompletedNotes
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Offer Accepted05/01/19CONGRATULATIONS! We Are A Few Days Away From Completing Selling Journey!
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Contract Delivered & Introductions
05/02/19Jaime Delivers Contract To All Parties & Introduces All Parties
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Inspector Scheduled05/03/19Inspection Occurs 2-3 Days After Accepted Offer (Utilities services connected, declutter, leave keys to buildings, not be present)
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Option & Earnest Money Due 05/04/19Buyer Has 3 Days To Deliver Earnest (To Title) & Option (To Seller) Monies
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Option Period Over05/08/19An Amendment Executed Stating 'Possible' New Terms (If Needed)
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Work Closely With Title Company
05/08/19Going Forward Be SUPER Responsive With Title Company
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Schedule Repairs/Concessions
01/27/00Schedule And Address All Repairs/Concessions ASAP-Ideally Want All Work Completed BEFORE Appraiser Visits
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Survey Requested05/08/19Title Will Ask For Survey Early On To Determine If One Will Need To Be Ordered
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Buyer's Lender Orders Appraisal
05/09/19Appraiser Will Appraise Home 8-10 Days From Date Ordered-Seller Should NOT Be Present During Appraisal
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Start Moving Plans05/10/19Give Yourself Plenty Of Time To Move (Ideally Be Out of Home 1-2 Days Prior To Closing)
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Appraisal Due To Lender05/18/19If Appraised Value Is UNDER Sales Price, Buyer Might Ask For Price Concession
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Proof Of Repairs/Concessions
05/01/19If Seller Committed To Repairs/Concessions, Send All Receipts And Pictures To Jaime
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Select Time to Close04/29/19Notify Jaime Time Preference To Close (Available Times 8:30am-4pm)
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Schedule Cancellation of Utilities
05/01/19Start Scheduling Installations For Day Of Closing Or After
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Notify USPS Of Move05/01/19Have Mail Forwarded To New Address
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Be Moved Out05/03/19Ideally One Is Moved Out By This Time But Not A Must Of Course
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Buyer Walk Through05/05/19Buyer Normally Walks Home Day Prior To Closing-Seller Should NOT Be Present During Walk Through
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Provide Deposit Information05/05/19Provide Bank Account Information To Title For Deposit
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Closing 05/06/19Bring Two Forms of Identification & Door Keys (Garage Remotes Can Stay On Counter)
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BYE HOME!
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Option PeriodDuring Option Period, expect to receive Option Money via check and earnest money going to Title Company selected. Also, maintain your home in the best possible shape as professional inspector will spend 2-3 hours inspecting home (typically 2-3 days after offer is accepted). After inspection, a full report is provide to buyer which will then ask us for concessions based on findings. You have the full right to accept all, some or none of the concessions however, keep in mind the goal is to keep buyer engaged to ultimately purchase your home!
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Heavy LiftingAfter Option Period, oftentimes a few days prior, you must work closely with the Title Company so they can open title, they typically reach out to your Lender on your behalf and issue their Title Commitment. Oftentimes you will have commited to repairs/concessions...so be sure to schedule and address these items ASAP. The sooner and more proactive you are with documents, scheduling, disclosures and any other action item, the less stress you will take into the Final Stretch and the more time you will have to prepare for the logistical move. This IS the heavy lifting, so let's stay on top of things so we don't breach the contract and/or delay closing.
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Final StretchThis is when Lender & Title Company provide last minute disclosures and FINAL numbers for closing. This is also when the move is in full swing…so let's remain vigilant! Utlities need to be shut off, mail needs to be forwarded and most importantly, everything must be out of the home prior to you turn the keys into the Title Company. In other words, don't run out of time as closing comes at you quickly!
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