If you’re selling your home, you should know that getting a buyer is only half the battle. Next is escrow where you either sell the house or have to start all over again. I’m Carla Young with Keller Williams Professional Partners. After you accept an offer from a buyer, the actual sale process begins. There are many things which need to be completed during this time and many things that can go wrong. Sometimes.. so wrong, that the property ends up back on the market. That’s why if you’re selling.. it’s best to have a good realtor… to make sure everything is going as it should… and to negotiate for you when problems come up.
Here are two examples of how your realtor can help during escrow. These are two of the big steps which can cause a sale to fall apart.
The first one is the buyers home inspection. Most of the time a buyer will hire a professional to inspect the home and provide a report of what’s wrong and needs to be fixed there. Often times the buyer will ask the seller to have some to all of the items repaired.. and that’s where the first round of negotiations occurs.… what will the seller repair or not repair. If the buyer is not satisfied with what is found in the home inspection, or can’t come to an agreement with the seller about repairs.. he can leave the transaction… and the home is back on the market.
If the inspection process goes OK.. and the buyer is getting a loan… the next thing is the appraisal. An appraiser will inspect the home and research comparable sales and give an opinion of value for the loan. If the appraiser comes up with a value that’s less than the agreed upon price… it’s a problem. In that case the buyer and seller need to negotiate again because the loan cannot be given for more than appraised value.
These are just two things which can come up and cause issues in a home sale.. There are others also and it would be too bad to have a sale fall apart after so much time and money has been spent on the process. That’s why when you are selling, it’s important to have someone working for you… someone who knows the process and can negotiate on your behalf.
I hope this information has been helpful to you. If you have any questions please let me know. I’m Carla Young, with Keller Williams Professional Partners… your neighbor in Sun City.