Seller Process
Seller Process
After you have accepted an offer-
What to expect when you are in contract…
There are 2 teams that you will be dealing with through the home selling process;
1. Realtor and team (Inspired Real Estate Group and our transaction coordinator)
Our team will be holding your open houses, negotiating your contract, scheduling and reviewing your inspections, scheduling the appraisal, negotiating any applicable credits or repairs, advocating for you throughout the process, answering any questions you may have, and keeping your contract and file complete and compliant. We work during normal business hours and also many evenings and weekends. We make every effort to be available to you at any time, but there may be some times that we have another appointment or a personal responsibility and have to return your call the following business day.
2. The title company (Escrow officer and assistants)
The title company is a neutral third party that handles your Escrow. The title company will collect the buyer's Earnest Money Deposit, order your title report, order the home warranty (if applicable), order any HOA related documents, and deal with any liens on the property. ** YOU MAY BE RESPONSIBLE FOR AN UPFRONT FEE FOR ORDERING YOUR HOA DOCS ** The title company will set an appointment for you to sign your closing documents and title documents with a notary. The title company also records the deed at the county.
Step 1:
Once you have accepted an offer, the signed contract is sent to the buyer’s lender and the title company and the title company opens Escrow. The buyer has 3 days from when Escrow is opened to take their Earnest Money Deposit to the title company. The Earnest Money Deposit varies with each contract, but is usually about 1% of the purchase price. The Earnest Money Deposit is refundable to the buyer until they have released all contingencies.
Step 2:
Usually the inspection period is between 10-17 days from when the offer is accepted. Inspections are usually at the buyer’s expense and are optional. We always recommend that buyers have the property thoroughly inspected by professional inspectors. Typically buyers order a whole house inspection (~$500-600), a pest inspection (~$150), a roof inspection (~$100), and a septic, well, solar, and/ or sewer inspection if applicable. Once you receive the inspection report, you can call the inspector directly and ask any questions that you have regarding the report. The buyer will usually send over a request for repairs or credit with the inspections. ** BE PREPARED TO RECEIVE A REQUEST FOR REPAIRS FROM THE BUYER. Your Realtor will go over the request with you and generate your response. During this time you will also receive and fill out property disclosures from Candie.
Step 3:
*** Please make sure your water heater is double strapped and that you have smoke detectors in each bedroom and hallway on each level and a CO detector on each level *** The appraiser will need to re-inspect for approx $200 if these items are not installed prior to appraisal.
The buyer’s lender will order the appraisal. The appraisal report usually takes 7-10 days to receive after the appraisal appointment. Our team can help to answer any questions about the appraisal process.
Step 4:
The title company will call you to schedule a signing with a notary. After you have signed, the lender will fund and after the title company receives the wire and the buyers funds for closing, the title company will release your deed for recording and take the deed to the county and record it. Once the deed is recorded, the buyer will receive the keys. Step 4 may take a few days.
** Please note that throughout the process, you will be receiving documents from your Realtor or Candie, please call with any questions on any of these documents.
** Wire fraud is a big problem. Do not respond to any emails or phone calls asking for your credit card or wiring information ** When wiring money contact the escrow officer that is handling your file directly **