Sheryl Smith discusses the steps that are taken once you are in contract to sell your home.
1. The contract states timelines for each task.
2. You are your realtor will prepare disclosures to give to the buyer.
3. The lender will order a home appraisal, which you need to provide access for.
4. The buyer will order home, pest, roof, and pool inspections.
5. You will need to turn on all utilities for the inspection.
6. The buyer will send a request for repairs.
7. What are you required to fix?
– properly installed smoke detectors
– properly installed carbon monoxide detectors
– properly strapped water heater
Every other repair request is a negotiation.
8. The buyer is not required to stay in contract on your home.
9. The buyer should remove all contingencies if everything is good to go.
10. Seller can issue a notice of buyer to perform if the buyer is not performing their required tasks. This is the only way for the seller to back out of a sale that is already in contract.
11. The buyer will get their deposit back if they have any remaining contingencies.
12. Choose your buyer wisely.