Selling your home isn’t just about listing it and receiving offers – even in this current seller’s market – its about what happens before and after you’ve done both of those things.
What does it mean when you see real estate signs that say “Sold in 3 Days”? Does it mean that money exchanged hands and the deal was done in just 3 days? No it does not. It generally means that an offer has been made by the buyer with a deposit and that offer has been accepted by the seller. But there are many steps between signing a contract and closing the deal.
In today’s market, homes often receive multiple offers and each one is different. One might offer more money but have additional contingencies, another may be slightly less but allows rent back and a more favorable closing date, and a third might be a cash offer from a qualified buyer. Whit can help you assess them all and help you decide which one is best for your situation.
An inspection contingency gives the buyer the right to have the home inspected within a specified time period, such as five to seven days. It protects the buyer, who can cancel the contract or negotiate repairs based on the findings of a professional home inspector and the details of the offer.
As your agent, Whit Harvey will go over your home with a fine-tooth comb before your property goes on the market, providing you with a comprehensive list of repairs that he knows will need to be addressed after an inspection. In this way, he minimizes any surprises for his sellers.
If the buyer requests repairs, Whit and his team have a list of preferred vendors that are dependable and affordable. He will make sure that all work is done on time and on budget.
Termite, Mold and Radon Tests
If tests show an issue with any of these things, Whit will arrange for remediation of these things with the owner’s approval of all costs.
An appraisal contingency is used to ensure a property is valued at a minimum, specified amount. If the property does not appraise for at least the specified amount, the contract can be terminated, and in many cases, the earnest money is refunded to the buyer.
An appraisal contingency may include terms that permit the buyer to proceed with the purchase even if the appraisal is below the specified amount, typically within a certain number of days after the buyer receives the notice of appraisal value. The seller might have the opportunity to lower the price to the appraisal amount.
Further negotiation may be needed, depending on the results of the above-mentioned items. In that case, you want Whit Harvey on your side. He can offer advice on which requests are negotiable, and when you can stand firm on other items. He has good relationships with other agents, and lenders, and will explain everything to you in terms that you can understand. Whit’s goal is always to hold the deal together through closing.
With a dedicated documents manager on the Whit Harvey Group team, there is no need to worry whether things are progressing as scheduled and if any documents are needed before settlement. Just as Whit was with you at the beginning of your home-selling journey, he will be with again at closing to ensure that everything goes smoothly and that there are no surprises.
Thinking of selling? Contact Whit Harvey today at 443-286-5808.