Here are the steps to close the sale once the purchase and sale agreement has been signed by both parties. Please know I will walk you through this step by step to make sure this is a smooth and enjoyable process.
Step 1 - Removing contingencies: The most common contingencies are financing and the sale of your current home. These conditions must be removed or waived before the sale on your new home can close.
Step 2 - Appraising the property: Your lender requires a formal appraisal to confirm the value of the home you’re buying, to be used as collateral to secure the loan.
Step 3 - Preparing closing documents: Most often real estate attorneys prepare documents that confirm the transaction, pro-rate funds, and so on.
Step 4 - Signing closing documents: Even after both parties have signed closing documents and deposited funds, the sale may take a few more days to close.
Step 5 - Recording the deed and disbursing funds.
Step 6 - Welcoming the moving van.
Step 7 - Receiving the keys from the seller.
There are many opportunities for surprises or delays in the transaction. Part of my expertise is troubleshooting problems that may arise. Please email or call me if you have any questions or you would like more information.
Diane McLafferty
Associate Broker -GRI, ePro
Warren Real Estate
(607) 330-5243
diane@warrenhomes.com
www.soldonithaca.com
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