ERA's Reston Area Realtors
Providing Superb Service
to
Home
Buyers and Sellers in
Northern Virginia
|
Here's a Flow Chart view of the home Purchase/Sale Process which might open your eyes a bit ... Selling a home (involving a Realtor) proceeds toward the Settlement on three separate parallel paths ... On the bottom of the chart ... The home's Seller generally has listed their home in the Multiple Listing System (MLS) with a Listing Realtor and it's presence in the MLS indicates the Listing Realtor's willingness to cooperate with another Realtor who is working as a Buyer's Agent The main path through the process involves the Buyer working with a Buyer's Agent to find a home, then shifts to additionally involve the Seller and the Listing Realtor to get it under contract, remove the contract's contingencies (like Home Inspection, Appraisal, Termite Inspection), make agreed to repairs and prepare for the settlement. Generally, the Seller will need to provide the settlement company with current contact information for any loans on the property and may be called upon to furnish proof that old liens have been satisfied. Lastly, the Buyer and their Realtor will conduct a 'walk-thru' inspection just before settlement to see that all of the home's systems are in working order and then proceed to settlement. The upper path involves the Buyer's Loan ... Initially you'll get pre-qualified ... Then Approved and eventually, once the Appraisal is completed, the overall loan will be approved for settlement. Since you'll need to be pre-qualified and approved anyway, I recommend that you do so before making an offer ... That way you'll be presenting yourself in the best possible manner.
|
|
ERA Teachers, Inc. 555 Grove
Street, Herndon, VA 20170 |
