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You Have a Contract to Buy or Sell Your Home. Now What?

The Jean Scott Team doesn’t stop working once we’ve gotten your home under contract – my name is Laci, and I handle Contract to Close for all of our clients.  It’s my job to ensure that your home moves smoothly through all of the many steps of the closing process.

Getting from contract to close in a real estate transaction can seem like a daunting process.  In fact, I have a 62-step checklist that only covers the basics.  The process also differs greatly depending on whether we’re representing the buyer or the seller.  Whatever your circumstances and whatever bumps we may come across along the way, we have an entire team ready to assist you.

As soon as we have a property under contract, it is forwarded to me.  My first step is to make sure that the contract is fully executed and that there are no discrepancies or missing signatures.  After that, I immediately send wiring instructions so that the buyer can wire their escrow deposit to the title company.  I also send an e-mail to all parties listing all of the most relevant details of the transaction and making sure that everyone involved (agents, title company, lender, etc.) has all necessary contact info.  This ensures that we are all on the same page and able to easily contact each other over the course of the closing.

My next step is to make sure inspections are scheduled within the time frames specified on the contract and that everyone is aware of the inspections and we have set them for a time that works for all parties.  Once the inspection is completed and we have a report back, the buyer’s agent gets with the buyer to discuss whether or not they are going to request any repairs.  If they do, we get those requests over to the listing agent, who discusses with their client.  The seller completes the repairs and the buyer is able to re-inspect if they would like to do so.

Once any repair issues are resolved, I make sure that the lender orders the appraisal.  The appraisal is scheduled in a similar manner to the inspection, except that we also send an agent out to meet with the appraiser and give them a few “comps” (other homes in the area which have sold in the last ninety days) supporting our purchase price.  Our objective is always to make sure that we get an accurate appraisal.

After the appraisal is completed and the lender verifies that it is satisfactory, much of the work moves to the lender and the title company.  I continuously follow-up with them to make sure that we are moving towards loan approval and that all title work is being completed and the survey is being ordered.  I also send reminders to the buyers to order their Homeowner’s Insurance (a requirement for the lender to approve the loan), make sure they have utility information so that they can have the utilities at their new home turned on in their name before closing, order a home warranty if the contract allows for one, and finally make sure that our clients receive a copy of the settlement statement prior to closing and the buyers have wiring instructions so that they can wire their funds to the title company.

My goal is to get you to closing with as few bumps along the road as possible.  Whether you’re the buyer or the seller, you have enough to worry about with all the stresses involved in moving.  It’s my job to make sure that your real estate transaction is as stress-free as possible.  I’m looking forward to working with you!

Laci Burkes
Office Manager & Transaction Coordinator
Jean Scott Team

407-314-4828
Laci@JeanScottHomes.com

 

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