PURCHASE AND SALE AGREEMENT
How the offer is written up will determine the steps you have to take in order to give or take possession of the home. If you need additional help, please see Broker Support or Listing Tools – Broker Help with Closing
With some help and determination you can enjoy the benefits of selling your home, while saving thousands in real estate commission.
To help you through the selling process you can download all the necessary forms when you Log In, the RESIDENTIAL PURCHASE AND SALE AGREEMENT and more.
The 10 steps in a typical residential real estate closing
Offer presented to the seller.
Seller accepting the offer by signing or initialing necessary pages.
Open an escrow account; negotiate the escrow and title costs and sign preliminary instructions.
Secure financing and negotiate lender closing costs. (buyer should be pre-approved)
Buyer should read and approve seller’s disclosures.
Buyer to obtain and approve property inspection, and approve other reports as needed.
Buyer to check title and remove contingencies from the offer.
Buyer to complete any remaining escrow work, and do the final walk through of the home.
Buyer to get funded by lender.
Sign the final escrow instructions (also called closing the escrow, transferring title).
If the buyer is represented by an agent
We can assist you with the transaction.
The agents can fax all offers to our office, or present it directly to you – once we receive an offer, we email you a copy and call you to reviewed the offer if you wish. Please see Broker Support or Listing Tools – Broker Help with Closing.
We may recommend some changes and we will guide you through the counter-offer process, provide you with the appropriate addendum, please see our Forms for the documents that you must provide the buyer. Once you sign all documents we will fax or deliver the signed contract back to the Buyer's agent with the changes and/or acceptance of the offer.
Once the offer is excepted by both parties, we will order preliminary title on your behalf and have it delivered to the buyer, we will make sure escrow is set up and earnest money is received.
Buyer may order a property inspection, once we have this report, we will contact with you to discuss work orders that the buyer has requested, if any. Again, we will walk you through this process.
Also, we will make sure that all disclosures have been delivered in accordance with the law and the contract, once the buyer is approved for the loan – it may take up to 30 days – we will set up an escrow signing appointment for the closing.
If a buyer is not working with an agent
You may like our expert assistance with negotiations, paperwork and closing procedures.
You will have access to download all the necessary forms needed in the selling process once you list your home.
We will help you and the buyer through the process, from negotiations to closing, purchase and sale agreement preparation and review of offers/counter-offers. We can coordinate inspection, closing – title/escrow, as you need it. Please see Broker Support or Listing Tools – Broker Help with Closing.
Pay only for the services you need. Our charge is 2 hours minimum at $75 per hour, not to exceed the 3% buyer's agent commission of the selling price. We may represent any buyers or sellers and act as a "dual agent" with the written consent of both parties to the transaction and the terms of the above hourly compensation.