I’ve Accepted An Offer On My Home, Now What?

Selling a home takes patience. Especially when you’re balancing your time between settling into your new home, and keeping up with your work and family life. So, when you’ve finally gotten to the point of accepting an offer on your home, you’ll probably breathe a sigh of relief–and you should!  However, there are still a few more things that will need to happen and a couple of things to consider before closing the deal on your home sale.

Contingencies on the purchase contract

A purchase contract typically includes contingency clauses that are designed to protect the interests of both the buyer and the seller. These clauses mean that the contract is contingent upon the actions being completed before it can be legally valid.

There are three main contingencies that will likely be included in the purchase contract before closing–inspection, financing, and appraisal.

Inspection contingency

The inspection contingency allows the buyer to have the home inspected by a professional before closing (the time should be specified within the contract, but the inspection should usually occur no more than two weeks after you accept the offer). A home inspection lets the buyer know what to expect in terms of repairs that the home needs now or will need in the near future.

Financing contingency

Since the vast majority of buyers will be purchasing their home through a loan, a financing contingency is included to allow the buyer time to secure their mortgage. Getting pre-qualified and pre-approved makes this process easier, but the buyer will still have to finalize and close on their mortgage before their financing is official.

This clause exists to protect the buyer in the event that their mortgage application is denied, ensuring that they aren’t penalized.

Appraisal contingency

The third contingency most often found in purchase contracts is a home appraisal. The buyer will order an appraisal and then the appraiser will reach out to you to find a day to come and value your home.

If the home is then appraised at the amount agreed upon in your contract, this contingency is met. However, if the appraisal comes up lower than the purchase amount, the buyer can renegotiate the price.

Walkthrough and closing

Once the appraisal and inspection have been met and financing secured, the buyer will have a chance to do a final walkthrough of your home. The walkthrough usually occurs no more than two days prior to closing on the sale. A walkthrough allows the buyer view the home one last time to ensure that the condition of the home hasn’t drastically changed since the home was inspected or appraised. So, make sure the buyer is aware of any changes you planned to make to the home before closing.

Now you’re ready to close on your home sale. You’ll receive a disclosure form to review (read it carefully!) and sign. Once closing is complete, ownership of the home is officially transferred to the buyer.

While the closing process does include several steps, it’s important to be available and cooperative along the way to ensure a smooth sale and transition into your new home.

Condo Selling Tips: Factors to Consider When You Assess a Real Estate Agent

Looking to sell your condo? With assistance from a real estate agent, you can maximize the value of your property.

When it comes to selling a condo, hiring a real estate agent is a must. This housing market professional will set up condo showings, negotiate with condo buyers on your behalf and much more.

As a condo seller, it is important to do everything possible to get the best price for your property. And if you understand what it takes to find the right real estate agent, you may be able to streamline the condo selling journey.

Ultimately, there are many factors that condo sellers need to consider when they evaluate a real estate agent, including:

1. Condo Selling Experience

It is essential to hire a real estate agent who possesses condo selling experience. This housing market professional can take the guesswork out of selling a condo.

A real estate agent with condo selling experience will promote your residence to the right groups of property buyers. This will ensure your condo will stir up plenty of from interest from property buyers as soon as it becomes available.

Plus, a housing market professional can teach you about the real estate sector and help you plan accordingly. He or she will ensure you can avoid any potential hurdles as sell your condo too.

2. Communication Skills

Does a real estate agent go above and beyond the call of duty to stay in touch with condo sellers? If not, he or she may struggle to sell your condo.

A real estate agent should keep you informed at each stage of the condo selling journey. This housing market professional also should respond to your condo selling concerns and queries – without exception.

Perhaps most important, a real estate agent should be unafraid to be honest with you. With an honest real estate agent at your side, you can receive unbiased condo selling recommendations and make informed choices throughout the condo selling journey.

3. Client Referrals

How do past condo sellers rate a real estate agent? Ask a real estate agent for client referrals, and you can receive unparalleled insights into what it’s like to work with this housing market professional.

Client referrals are great tools to help you decide whether a particular real estate agent is the best person to guide you along the condo selling journey. These referrals can provide you with insights into a real estate agent’s professional demeanor and personality that you may struggle to obtain elsewhere. As a result, client referrals may prove to be exceedingly valuable to condo sellers.

If you need help selling a condo, allocate the necessary time and resources to hire a real estate agent – you’ll be glad you did. Real estate agents are available nationwide and understand what it takes to sell a condo in any housing market. Therefore, working with a real estate agent may help you speed up the condo selling process and optimize the value of your property.

Video Tour – Condo Home – Malden, MA 02148 Real Estate – For Sale

Luxurious unit in the professionally managed Stone Gables Condo complex with a deeded parking spot. There is easy access to downtown Boston, Malden T Station, the Center, restaurants, shopping and route 1. It offers lots of sunlight, two generous bedrooms with great closet space, wood flooring, and a beautiful kitchen with breakfast bar, granite counters & maple cabinets. This is also one of the largest units in this building. The complex has a fitness center, outdoor pool, barbecue area, elevators, a state of the art new FOB entry and security system. Don’t miss this one! First showing at Open House on Saturday January 13th from 11:00AM-12:00PM.

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