Selling Process for Buyers Part 5
**Before continuing, please read part 4 of this blog**
- Continuation from part 4 reasonable negotiations on the sale of your existing and new home purchase.
- Working with your agent at the beginning of the entire process, the way it was described in part 1 of this blog series, has made it much easier for you to get to this point in the transaction. This is why we here at K2 Premier Realty support this 5 part series blog to be a great way for the seller preparing to buy a home, a stand alone seller, stand alone buyer, even someone new entering the real estate field to be able to follow this series and understand the entire process less the specific names of all documents used.
- Now that you have committed to an agreement on repairs or changes and your negotiations are complete, you are getting closer to the finish line of your goal. Your agent will take care of all necessary documents and align with you to match the closing date of the home you sold that is waiting to close with the closing date of the home you have just put under contract to purchase. This is usually 1 to 3 days from each other depending on your ability and resources. Please keep in mind that closing both properties on the same day is normally a bit difficult for most people so we recommend at least 1 day or more between closings for multiple reasons. Based on this process and the need to transfer funds, the transfer of proceeds from the sale of your home to the closing attorney or title company of your new home will require the extra time. This is normally 1 to 2 days and attempting to do all of this in one day is a bit overwhelming for most people. Your agent will help keep things moving on both properties and make sure all requirements are met in a timely fashion.
- Keep in mind we need to stay on target with any and all documents and requirements of both transactions as everything we are doing still has a limited time period. With that being said keep up the good work, get necessary documents signed and returned to your agent and lets follow through with the completion of this entire process. Your final goal is vey close!
- The home you are selling may require an Occupancy, Sewer, or HOA certification as well as the one you are purchasing. These are items that are often forgotten about. The Occupancy is usually the last inspection of the home your selling and is normally set up by the agent but may be done by you as well. There is a fee associated with most every inspection but these last 3 certifications are normally only requirements for the seller to complete. You should not normally be required to do these on the buying side, however your agent may be involved with them even if it is just verification that they were completed as they can in some cases hinder the closing.
- At this point if everything has been completed on both transactions you are only 2 steps away from your goal. As the seller of your home the new buyers will do a final walk through of your home looking to see that it is in the same condition as when they originally saw it or better if any repairs have been done. (repair receipts usually needed for closing) They may check to see if all negotiated repairs or changes were completed and return to the closing table with a smile and ready to finalize their purchase. (Be sure to bring your personal Id, all keys, and garage door remotes to the closing.) You are now switching into buyer mode and will do the same final walk through on your new purchase. Your agent will be with you at both closings any needed assistance, documents and support. Please smile for the photo of you with your new keys or agent or home! We did it, Goal Reached!
- Please note that during this whole process there are other obligations that must be handled not only by your agent but also the attorney or title company behind the scenes and they have been working hard with you and your agent as well to make this all happen. (End of Selling Process for Buyers Part 5; End of Series)
We appreciate you taking the time to read our blog series! We would love to hear from you.
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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.