Closing the Sale

Closing the sale is the final phase of the transaction. It may surprise Clients to learn that is usually the phase that requires the most time and attention. At this stage we involve two lawyers with their support teams acting for you and the buyer. A mortgage involves the mortgage broker or bank with the underwriter team and appraiser. The property inspectors may involve inspection of the building, the septic system, the gas supply and the water system. Often surveyors, municipal authorities and environmental protection agencies are consulted . We involve many more professionals with questions and the shinny offer may loose its shine.

As your real estate agent, I’ll work closely with you to pilot your transaction through the turbulence. It’s at this stage that the importance of my earlier recommendations really pay off.

Building Inspections

Although the Buyers Agent is the only Realtor required to be present, I try to attend the building inspections. This is often the stage at which there is a significant reduction of the sale price or a need for you to invest in overdue maintenance or repairs.

If you have taken my advice and commissioned a pre-sale inspection, there will be no surprises. I will be able to produce 2-3 active quotations to rectify any shortcomings you decide to overlook You declare these to the buyer before negotiating the sale and adjust your selling price to include repairs. We offer the pre-sale inspection report to the buyer with a note of problems rectified. Since they are not surprises to you or the buyer there is no further price adjustment.

If the inspectors do find any significant other problems, they usually results in a price adjustment. This considerable exceeds the cost of combining the fix and the pre-inspection.

My past experience building and selling homes enable me to help you asses the validity of most complaints. I believe I can protect your sale from unreasonable claims.

The Appraisal

You may choose the offer with the least potential complications. However, the buyer often takes a mortgage even if financing is not a condition, I meet the appraiser together with a list of my suggestions for comparable sales. I try to ensure that the appraiser sees the value in the home. This must be done very tactfully.

The underwriters will carry out a careful credit review of mortgage application before committing to the mortgage. They will re-check that review immediately before advancing the funds. If anything changes they, at best, delay the advance. I caution the buyer agent to remind his client not to make any new financial commitments that may impact the transaction.

Closing the Sale Timeline

There are dates and times in the offer which we must respect. Watching these and taking care of the details is a responsibility I take very seriously. For example, if there are any conditions on the offer to buy your property, such as “passing a home inspection”, I’ll coordinate with you and the seller’s agent to ensure that he acknowledges satisfaction and the deal closes.

Closing Documentation to Lawyers and Brokers

We forward all the sales agreements and notices of fulfilment promptly to both lawyers and brokers. If all is complete and correct, the transaction closes. Your lawyer receives all the funds and disburses them according to the agreements. Then I can congratulate you for your sale, I’ll be there for you, as your real estate expert, up to the day you move – and beyond. I provide you with the names of trusted lawyers, contractors, movers, etc. from my network of reputable professionals and companies. I’ll also clearly explain what to expect leading up to closing day and give you advice as to how to prepare.

My goal is simple: To make your house sale and move a positive experience.

Want to learn more about how I can help you sell your property, for a top price, while making the process easy for you? Please call or email me to schedule a no-obligation Personal Consultation.