Contract to Closing Time-line

Typically, closing happens four to six weeks after the sales and purchase contract is signed, although it could be sooner or later. Normally, as the seller you are anxious to receive your money and move on. And unless there is a special circumstance surrounding the buyer’s loan, there is no reason to delay. Your purchase agreement will define your anticipated closing date.

Additional Dates and Days to Avoid

When negotiating a closing date, try to avoid the end of the month which tends to be a very popular time for closings. If the beginning or middle of the month works for your timing, the critical players (lenders, attorneys, inspectors & appraisers) may have more time to devote to your transaction.

We also recommend avoiding the end of the year, especially the last day of the year. You may want to take advantage of deductions on this year’s tax return, but you are likely to run into the disadvantages of offices closing early, being short-staffed, and holiday parties. If you must close during one of these hectic periods, plan as far ahead as you can.

1.   ACCEPTED OFFER

2.   INSPECTION - REPAIRS IF APPLICABLE

3.   APPRAISAL

4.   CLOSING

The Appraisal

What is a Home Appraisal?

A home appraisal is an expert's opinion of how much your home is worth. Most lenders will require an objective, third-party, certified appraiser to determine the fair market value of a property before closing. This protects you from spending more on a home than it's actually worth. It also protects your lender from loaning out too much money.

Who Pays for the Appraisal?

While the bank will typically arrange for an appraisal, the buyer is ultimately responsible for paying for it. It is considered a closing cost and may be covered by any seller paid closing costs that are negotiated in the contract.

Details...Details!

We'll be assisting with requests for utilities, additional transfer of any warranties or termite Bonds, and scheduling the actual closing...  Rescheduling if necessary. We'll be Coordinating delivery of paperwork, additional Amendments and many other tasks associated with bringing your transaction together for a smooth, low-stress and enjoyable closing.

Helpful Links:

What to Expect During the Appraisal Process

What to Expect During the Home Inspection Process