Wednesday, May 2, 2012

Sell Your Home: You Finally Have a Buyer, Now What?

You have promoted your house for sale by owner, distributed flyers, listed your property in all available property listings and classifieds you can find and finally you have yourself a buyer. By the way, if you don’t have an offer in writing with a deposited cash or check, you don’t have a serious buyer. You should have at least a percentage of your asking price as a deposit.

Let’s say you have a buyer, who has agreed to sign the contract, where do you go from here? Many sellers feel lost when it comes to closing the sale and preparing the documents. If you are one of these sellers, here are some of the important things to consider:

  • ·         Prepare a sales agreement and have it signed. If you don’t know how to outline a sales agreement, consult a real estate lawyer for a small fee. 
  • ·         Once the buyer signs the sales contract, you should not settle back just yet. Make sure that your buyer is pre-qualified by a lender to buy your home. The buyer’s lender may and can appraise the property to make certain that the borrower is not requesting more money than the property’s market value. Oftentimes, the lender will not grant a loan when the house is appraised for less than the sale price. 
  • ·         Keep track of your buyer’s advancement in acquiring a financing. If your buyer can’t get a loan, then there is no deal. If agreeable, call your buyer’s broker and check how things are coming along. Or, you can ask your buyer to provide a letter from his lender stating that he qualifies for a loan of the amount required to buy your property. If you will get an adverse feedback, it is advisable to get your home back in the market. You do not want to tie up your home for an extended period of time only to find out that your buyer does not have the funds to complete the sale. 
  • ·         Obtain a home inspection report from a professional and show this to your buyer. This will help in completing the sale faster and could prove helpful if you need to dispute an investigation from your buyer’s lender.

Do you find these steps hard and time consuming? Do you simply wish to sell your house for what it’s worth? If your answer is YES, then consult Lucas Properties LLC. They will sell your house fast and offer you cash in return so you can just sit back and relax.

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