Contract to Closing

Contract to Closing
Once you have arrived to the point of a ratified contract, you are on the home stretch of a successful sale. This can be some of the most difficult and challenging parts of selling a home. There are many details that must be attended to and it takes representation from someone who is familiar and meticulous with the process to finalize the transaction.

The following activities will take place under the direction of your Seller Representative:

• Manage the process and problem-solve during the critical time between contract and settlement. Coordinate all activities and communicate regularly with all parties.
• Provide a seller net sheet
• Schedule a termite inspection and report results
• Deliver all necessary papers to buyer's agent once contract is ratified
• Set up timeline for all deadlines and contingencies for ease and seller review
• Monitor all inspections of property and present reports to sellers
• Meet with appraiser at the property and furnish supporting comparables
• Change the status of the listing to under contract in all internet advertising
• Submit ratified contract to managing broker for review
• Coordinate a settlement date, place, and time in accordance with the agreement
• Deliver copy of contract to settlement attorney or title company
• Inform you immediately of obligations in the case of termite problems
• Assist in arranging termite treatment and repairs if necessary
• Track financing status of buyer and keep you informed accordingly
• Assist you in the negotiation and/or removal of inspection contingencies. This can be one of the most difficult and crucial portions of the transaction
• If requested, provide seller with utility phone numbers and courtesy list of contractors
• Track settlement and keep seller informed of discussions with settlement company, cooperating agent and lender
• Advise seller of buyer financing approval
• Place UNDER CONTRACT and/or SOLD signs on property
• Monitor progress by other service providers
• Maintain contact with the selling agent to assure a smooth, problem-free transaction: good problem-solving skills and people skills are even more crucial at this stage
• Clarify seller's responsibilities per contract terms prior to settlement day
• Provide the names of recommended moving companies
• Remind seller to submit a change of address with post office
• Advise seller immediately of results of the pre-settlement walk-through inspection
• Apprise settlement processor of any changes regarding transaction
• Be present at closing to assure that the settlement accurately represents the contract terms and that your interest are accurately reflected in the closing documents
• Turn over any keys to new owner after settlement
• Arrange removal of sign from property
• Remove lock box in a timely fashion
• Change status of property to SOLD in Multiple Listing Service

As you can see, your Seller Representative will be working diligently on your behalf. It is important that you make yourself available as communication is vital during this time.