From Contract to Closing

An Accepted Offer Is an Important Milestone—But There’s Still Work to Do

Once you've accepted an offer, your home is under contract. But several important steps must still take place before the transaction reaches the closing table.

Inspections, due diligence, financing, appraisal, title work, repairs and contractual deadlines can all affect the transaction.

Our job during this stage is to manage the details, anticipate potential issues and keep the transaction moving toward a successful closing.

Due Diligence and Inspections

Depending on the terms of the contract, the buyer may have an opportunity to conduct inspections and further evaluate the property.

 

Inspections may identify items the buyer wants addressed or raise additional questions about the home.

 

If the buyer requests repairs, credits or other changes to the agreement, we'll help you evaluate those requests and determine an appropriate response.

 

Not every inspection item requires the same response. The property's condition, contract terms, market conditions and significance of the issue can all influence the strategy.

 

Financing and Appraisal

If the buyer is obtaining a mortgage, the lender will work through the loan approval process while the property is under contract.

 

An appraisal may also be required to provide the lender with an independent opinion of the property's value.

 

If an appraisal or financing issue arises, we'll help you understand the situation, evaluate the available options and determine the appropriate next step.

 

Managing the Details

Real estate contracts contain important dates and obligations for both buyers and sellers.

 

Throughout the transaction, we'll help coordinate with the professionals involved and keep track of the steps necessary to reach closing.

 

These may include:

• Inspections and due diligence
  
• Repair negotiations
  
• Appraisal
  
• Buyer financing
  
• Title work
  
• HOA documentation when applicable
  
• Closing documents
  
• Contractual deadlines
  
• Final walk-through
  
• Closing and possession
  

Keeping these pieces coordinated can help prevent small issues from becoming larger problems.

 

Preparing for Your Move

While the transaction is progressing, you'll also need to prepare for the practical side of leaving the property.

 

Before closing, you may need to:

• Complete agreed-upon repairs.
  
• Remove personal belongings from the home.
  
• Arrange movers and storage if necessary.
  
• Transfer or discontinue utilities as appropriate.
  
• Gather keys, garage remotes and access devices.
  
• Leave manuals or other useful property information for the buyer.
  
• Make sure the property is in the condition required by the contract.

We'll help you understand what needs to happen and when.

 

The Final Walk-Through

Shortly before closing, the buyer will typically have an opportunity to conduct a final walk-through of the property.

 

This isn't another inspection. It's generally an opportunity for the buyer to confirm that the property remains in the expected condition and that agreed-upon items have been addressed.

 

Having the home completely prepared before the walk-through helps make the final stages of the transaction smoother.

 

Closing Day

At closing, the necessary documents are completed, funds are transferred and ownership of the property changes hands according to the terms of the transaction.

 

For the seller, it's the culmination of everything that began with the original decision to put the home on the market.

 

From Listed to Sold

A successful home sale doesn't end when an offer is accepted.

 

The period between contract and closing requires communication, coordination, problem solving and attention to detail.

 

We'll remain involved throughout the process, helping you understand what's happening, addressing issues as they arise and working toward the same objective we've had from the beginning:

 

A successful sale—and a smooth transition to whatever comes next.