Home Buying & Selling Process
Buyers Start
Buyer decides to purchase a home
Buyer chooses selling agent.
Agent explains agency and the process involved in buying a home including expectations, qualifications, financing and market conditions.
Discuss advantages of pre-approval.
Buyer fills out mortgage application, credit report.
Agent interviews buyer to determine what kind of home they are looking for.
Buyer and agent review homes that meet the buyer’s requirements.
Select home. Write and present offer through selling agent.
Possible contingencies:
- inspections
- subject to sale
- financing
Closing!
Pre-closing walk-through.
Arrange for closing with attorneys, lender, buyer and seller.
Attorney does title opinion.
Title company or seller’s attorney updates abstract or searches title.
Appraisal ordered.
Mortgage approval subject to appraisal.
Arrange for inspections, if necessary.
Offer accepted.
Seller Start
Homeowner decides to sell.
Seller selects listing agent.
Listing agent explains agency, the process of selling a home, and market conditions.
Listing agent prepares a market analysis.
Listing agent presents marketing plan.
Seller prepares home for marketing.
Agent markets the home.
Agent reports to owner on the progress as per agreement.
Offer presented through the listing agent.
Possible contingencies:
- inspections
- subject to sale
- financing
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