Congratulations on the potential sale of your home!
Here is what to expect next. This guide was designed to help navigate you through the rest of the selling process. It timelines goals and milestones to meet. Your trusted Crane Realtors® agent will be by your side during this process! Reach out to your agent with any questions or concerns or to Martin, the Broker, at 502-592-7868.
- We will confirm the receipt and deposit of the earnest money deposit if applicable to your contract.
- Please keep the home in the same condition as you would otherwise show it to prospective buyers for the home inspection, and especially the appraisal.
- If you have had a recent servicing of the HVAC unit, tape a copy of the report from the technician to the furnace so it is visible to the inspector.
- The home inspection should be scheduled within the timeframe of your contract in paragraph 10. Many times the Buyer will have a home inspection, termite inspection, and potentially a radon test. If the radon test is set it must remain in the home for 48-72 hours. This will mean the inspector will have to access the home twice. It is typical that the Buyer and the Buyer's inspector attend the home inspection. Depending on the Buyer’s agent they may or may not attend. Be sure to keep any valuables, controlled medicines, firearms, jewelry, etc put away and out of sight or locked up.
- It is customary to receive a repair request within 48 hours after all inspections are complete. The Buyer’s agent will provide a written signed request from Buyer detailing the repairs they would like. It is typical to receive supporting information on the repairs from the inspection report, or possibly a copy of the full report. We will need to sit and discuss the repairs you are willing to make, or concessions in lieu of repairs, and write a formal response to the Buyer. The repair negotiations may go back and forth until parties cease in negotiation. Please pay particular attention to the days in the contract for response timeframes required.
- Once inspections are complete it is customary for the Buyer to grant access to the lender to order appraisal. Please be sure the home shows it’s best when the appraiser is scheduled to arrive. We suggest lights on and it show ready. Remember they are determining your homes value! The better it shows the more likely you will have a better opinion of value.
- Following the completion of tasks prior your agent should be receiving a title questionnaire that request fees, mortgage information, and Seller information so the title company may begin to prepare for the closing. The title company will request seller’s ssn’s which we will request you to contact the title company directly to provide. Please do not send your agent any personal information, we do not want or need this.
- Consider obtaining estimates for moving from your preferred moving company. We do not recommend specific moving companies as the turnover rate in that field for handlers is high and many times there can be delays. Be sure to get any estimates written, times and dates for moves in writing, and document what recourse you will have if the mover fails to pick up/deliver as agreed upon.
- From contract acceptance it is typical that is takes a lender 3 weeks, with the Buyer addressing the requested underwriting provisions in a timely fashion, to obtain a conditional approval. From this point you are the most assured the Buyer will be able to perform on the loan.
- At this point you should be able to obtain a tentative closing date.
- Please firm any moving dates and schedule as needed.
- Your agent will call the Buyers agent and confirm 3 days prior of the scheduled close that the Buyer has received and acknowledged the closing disclosure. Once this step is complete there shouldn't be many issues to prevent a closing.
- A copy of the settlement statement should be provided to both Buyer and Seller for review, and if corrections are needed they can be addressed at this time. Sale price, fees, and proration of taxes and dues will be confirmed by your agent.
- Upon acknowledging the closing disclosure is complete please contact utilities for transfer. Please consider scheduling the disconnect date a day after your close in case there is a delay on the Buyer side or failure to close. Remember if power is off sump pumps do not work, ice can melt in freezers and can damage flooring, and if it is extremely cold outside pipes can freeze.
- The Buyer has a right to perform a walk thru prior to the closing and again prior to possession if the possession is delayed until after closing. If you have a delayed possession agreement please keep insurance on the property or obtain a renter type insurance to protect yourself and the purchaser in case damage occurs to the property.
- Day of closing please be sure to bring a state or government issued ID (confirm this is not expired) and a second form in case requested. Remember all names on title must be present at close or a power of attorney must be on file and approved by the title company prior to the closing. If married, spouses must attend the close in the state of Kentucky to release equitable rights, even if not on deed.
- Closings typically take 45 minutes to an hour and half. The title attorney will review each side of the settlement statement with each party. The numbers and fee’s should match the statement provided and reviewed prior to close. Any deviation should be explained and documented.