We will review all offers together. The decision are yours. I will recommend, provide data, and position you carefully, but all decisions are yours. My fiduciary responsibility is to represent you as if it were my money. I will never “show your hand” or indicate what price I think you “might” accept, nor will I tell another agent anything about other offers. I don’t know what you will do, we will determine that once we get an offer to review and negotiate.
After discussion we might decide to “counter offer” or “reject” or “accept” an offer. I will lead you through any negotiations and represent your wishes.
If you accept an offer, we inform the buyers and we open escrow – which lasts generally 30-45 days.
During the escrow process the buyer will be getting physical inspections, finalizing their loan application, and be preparing to own your property. (You will be planning your move.) Escrow will hold all deposits and prepare final documents for both parties.
Request for Repairs
The buyers may request some repairs or credits after their physical inspections. In a “seller’s market” this is unlikely.
Once we find the “right” home we agree on the terms, write up the offer and position ourselves with our best offer. Relationships, knowledge of the market and honest business practices work in our favor here.
The buyers generally have 17 days to satisfy themselves that they will move forward with the deal, that there are no unexpected problems with the appraisal, loan, condition, title, etc. Once this Contingency Removal is completed both sides can breathe a sigh of relief that the deal will likely move ahead smoothly. Loan finalization begins in earnest, termite treatment is planned and all moves forward. (More packing/moving efforts.)
Funding and Recording
The buyer will “fund” a day before escrow close and will “record” the title on the day of the close. They then own the property. Keys will be exchanged after the recording. This is the time to provide any appliance instructions, quirky directions for operation of items around the home, etc. And, a great time to wish the new owners the best!