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The Listing Process
from paperwork to the closing table.
THE LISTING PROCESS
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FIRST STEP
The very first step is a phone conversation, text or email with me, or a team member. The next step is having us come out to your home for a consultation. During our meeting we will go over your goals thoroughly, come up with a list price together and plan a timeline of events.
MOVING FORWARD
When you decide that you are going to move forward with the listing process, regardless of timeline - paperwork is next and typically takes around 20-30 minutes to complete.
Once we have a timeline in place we will get photography and an open house scheduled for you.
During open house and all showings, your property will need to be vacant (most showings arrive 10 minutes early so keep that in mind!)
UNDER CONTRACT
This guide will walk you through the steps until closing. Including the due diligence period with the amendment to address concerns (repairs), appraisal, seller documents from the closing attorney and more!!
EARNEST MONEY
Earnest money will be submitted by the buyer to the earnest money holder in the contract. My office administrator will follow up and make sure it gets to the proper place, for the correct amount and in the time frame allowed.
DUE DILIGENCE
This is the time buyers can utilize a home inspection and request repairs that they see fit. A home inspection is not required in Georgia, but highly recommended. Most buyers do choose to have a home inspection completed. I also highly suggest not packing anything up until this time is over and repairs are agreed upon.
THE HOME INSPECTION PROCESS
01.
The home inspection is scheduled and paid for by the buyer. The average home inspection takes anywhere from 2-4 hours and the house will need to be vacant
02.
The buyers use the information that is provided in the home inspection report to request any repairs, this could lead to another round of negotiations.
03.
Remember the home inspectors job is to find items that may need some attention, don't take this personally!
04.
The average time to hear back from the home inspection is typically 2-3 days depending on the weekends.
*sometimes the buyers utilize this time to walk back through the home and take measurements for furniture etc.
AMENDMENT TO ADDRESS CONCERNS
You will need to go through the pre approval process first and foremost before looking at properties, so that we know exactly what we are able to view. We want to make sure that we know what we are able to shop for and in the correct price range.
We need to make sure we are not looking too high or too low for your needs. This also gives you leverage in the offer process, especially in a multiple offer situation.
Connect with a local lender to get you the best options and interest rates available. I will share our preferred lenders list with you.
SELLER INFORMATION SHEET
The closing attorney will send out seller information documents to fill out and return. This provides the closing attorney the information they need for your current mortgage payoff and any contact information they may need to move toward closing. It is important to get this done and sent back quickly so it doesn't hold up the closing process.
APPRAISAL PROCESS
The appraisal is ordered by the buyers lender, and paid for by the buyer. The appraiser will need access to your home and it is typically okay for the sellers to stay home during this process. This is typically done within 21 to 28 days from a binding contract.
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The appraisal typically takes anywhere from a week or two to hear anything back. When the appraisal comes back at the value of the contract, we hear that we are good to go, and may never know exactly what the appraisal value was, since this is the buyers information that they paid for.
When the appraisal comes back below contract value we are able to see the amount and possibly appeal it or do one of the following:
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seller comes down to the appraisal price
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buyer pays the difference in cash
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buyer and seller meet in the middle
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contract terminates
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Once the appraisal is done and/or agreed upon you are 75% of the way to closing!!
CLEAR TO CLOSE
The buyer will get final loan approval from the lender and receive clear to close. Once we have that we are just waiting to close!
At this point, it is time to finalize moving plans if you haven't done so already so that you have the house and property clear of all personal belongings by the closing or possession date.
Buyers will be completing a final walk through the day before or the day of closing.
CLOSING AND POSSESSION DAY
At closing day and/or possession day the sellers are responsible for delivering the property clean and free of trash, debris and personal property of the seller not identified as remaining with the property.
At closing, the seller shall provide the buyers with all keys, door openers, codes and other similar equipment pertaining to the property.
THE CLOSING PROCESS
Layla will schedule closing for us. We will let you know when and where this will be held. Typically scheduled a week prior to the closing date.
Please bring TWO forms of ID and any other funds that are due.
Some buyers choose to do a mail away option or to assign a POA in case you are out of town on the closing day.
