Once a sales contract has been agreed upon, there are many details that must be accounted for, such as obtaining a compliant Real Property Report or current Condominium Documents. One of the most important details to protect against is any loss of deposit monies. The way to properly protect yourself against any stress, inconvenience, or loss, is to adhere to all dates and deadlines. Whenever a deadline cannot be met, it’s critical to secure the properly written extensions or with-drawal forms. There are many parties connected to a closing including, but not limited to, lawyers, insurance agents, home inspectors, mortgage lenders, and co-operating brokerages. Proper com-munication with all parties is vital to a successful closing.
Stay Focused On What You Must Do
The most important lesson is to assume 100% responsibility for the outcome of your closing, even when you are being assisted by a team of industry professionals. Primarily, you must understand your personal closing responsibilities. For example, you should arrange for a moving company immediately so you can meet the conditions of the closing date, which typically include leaving your property in a professionally cleaned condition. Don't assume anybody but you has your best interests in mind and ask questions any time you're not completely sure what you must do to close with care.
Consider Dates Seriously
You must understand that selling a property is a large financial transaction that follows a written con-tract, which contains legal obligations that must be met, or parties may become subject to penalties under contract law. We always recommend the use of an attorney to ensure that you are always in compliance and protected. The best way to protect yourself is to adhere to the dates and deadlines that you as the seller are obligated to meet.
Be Flexible & Anticipate Challenges
A real estate transaction is often one of the single largest financial and emotional transactions that people make in a lifetime. The transaction includes the orchestration of many parties and therefore requires a greater level of flexibility. While it's important to stick to dates and deadlines to avoid financial loss, you should also expect and prepare for timeline adjustments to ensure a less stressful experience.
Congratulations! If you have completed all of the modules then you are well on your way to successfully selling your property for top dollar!
You should recognize that selling a property is a complicated transaction, so we certainly understand that, for most sellers, this course is simply an orientation rather than the full education that we provide as professional Real Estate Agents.
We also realize there is a lot of preparation involved in the sale process of your property. We are always available and will be guiding you from start to finish, so again, never hesitate to contact our team, at any step through the entire sale process.