To-Do's for home buying/selling
When purchasing or selling a home, there are many steps to take along the way toward a successful closing.
If a realtor is involved, he or she will usually prepare the contract which attorneys for the seller and buyer will review. The attorneys can approve or disapprove the contract or raise potential issues to be addressed.
There may be a home inspection and/or radon inspection. The results of these inspections can lead to further negotiations or canceling of the contract.
The seller may have other certifications to obtain depending on the home and the property's location. The seller's attorney will update the search and survey.
The purchaser will work on obtaining the necessary financing, if any, and continue to work with his or her bank on any conditions to close.
The purchaser's attorney will perform a title review and the seller's attorney will work on curing title issues. Once the title issues are worked out and the purchaser's bank, if any, is ready to close, a closing date will be set.
The seller's attorney will prepare a closing statement with all necessary adjustments.
There will be a final walk through inspection prior to the closing. Hopefully, at the end, there is a successful closing and all parties have achieved their goals.
This was a simple overview of some of the main steps involved, but, every transaction is different in some way and must be managed proactively.
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