Seller Guide: Contract to Close

We understand that the journey from contract to close can be both exciting and complex. There are multiple milestones that must be achieved to get you to the closing table.

Home Inspection and Contingency Resolution: The buyer almost always conducts a home inspection to assess the property’s condition. If any issues are identified, they may negotiate repairs or credits with the seller. During this period, it is also necessary to resolve any contingencies outlined in the contract, such as the sale of the buyer’s existing home or the completion of repairs by the seller.

Appraisal and Financing: The buyer’s lender usually orders an appraisal to determine the property’s market value. If the appraisal value is lower than the agreed-upon sale price, renegotiations may occur. The lender verifies the buyer’s financial information, assesses the property’s eligibility for financing, and completes the underwriting process.

Final Walk-Through and Closing: Typically, the buyer performs a final walk-through of the property shortly before the closing to ensure the property’s condition hasn’t significantly changed since the inspection. The closing is the final step where all parties involved sign the necessary paperwork, transfer funds, and officially transfer ownership of the property.

To ensure a successful and smooth closing process, please browse the articles below.