Selling Process For Buyers
**Before continuing, please read part 3 of this blog**
- Selling Process For Buyers – Continuation from part 3 the seller is now moving into the buyer status.
- If you have followed all of the parts to this blog, you are now an active buyer. This means your agent has your approval or proof of funds. The home sale proceeds in most cases are less than the price you expect to purchase in. Your agent will now be sending you listing information for homes that you may like based on the criteria he or she already has received prior. This will make things go smoothly and you can start seeing the homes you like. With this in mind your stress level stays low and your excitement grows.
- Keep in mind you and your agent are moving forward together with the next step of the home you are selling to include inspections and negotiations. When your inspections are complete, and repairs if any are agreed on, you will need to correct those deficiencies. Your agent may have a vender to help with those repairs or services if you don’t. Once all repairs/occupancy have been completed your going to feel like your heading toward home plate, you are! All that’s left is the appraisal, final walkthrough of the buyers and assuming no title issues are found, the closing. Your agent or agents can make sure your closing lines up with your new home purchase if you followed the entire blog.
- No, it’s not party time quite yet, as you’re still at the early stages to your home purchase but you’re going to feel much more relaxed as you move forward knowing there is little or nothing to do until close of the home you are selling. (Just remember it’s not over until it closes!) Your focus is now primarily on the home your looking to buy! So you and your agent are on the same page and you found your dream home! Awesome for you but getting in an offer is key and making sure your chances of winning the offer are up to you and your agent. You may be the only offer, chances are high but not guaranteed (price offered, type of loan, sellers preference, home condition and issues) can make losing a sole offer possible. Your agent will help you get through this and advise or recommend to make or get you that winning offer even if there are multiple offers. Our experts at K2 Premier Realty have extensive experience in obtaining the winning bid at the best price and do so 9 out of 10 times when buyers have taken our advice on the offer. However, keep in mind you don’t always win.
- Once your offer is accepted, you’re off to the races, as time of the essence is key here but your agent should help keep you on track. everything you do moving forward has time constraints so keep this in mind! Get your inspections started as the clock started ticking the moment the seller signed the offer. And yes, there are just as many if not more documents to buy a home. “Key Fact” One of the main reasons home deals fall apart and don’t make it to the closing table when selling or buying is because buyers and sellers fail in inspection deficiency repair negotiations. That being said both parties need to be reasonable. The seller needs to understand that he or she is not selling a new property no matter how much was spent and defects and repairs may still be needed at a cost no matter what you have already spent. Buyers need to understand unless they are purchasing a newly constructed home that breaking the sellers back with every little defect and extreme cost will usually pull the plug on the deal so once again be reasonable! (End of Selling Process for Buyers Part 4)
We appreciate you taking the time to read our blog series! We would love to hear from you.
What’s My Home Worth? | Are You Ready To Sell Your Home?| Thinking About Buying? | Meet the K2 Team
Disclaimer: This series and all of its processes are based on real estate within Pennsylvania and may vary from state to state. Needs and requirements may vary from state to state and lender to lender. Always check state and lender requirements when deciding to purchasing or sell a home.