Last time we left off with the offer and negotiations. Once the deal has been made all parties can move on to doing the homework. In any Fort Myers or Cape Coral For Sale by Owner transaction all parties need to work together.
So now the real work begins and there are lots of people involved to accomplish the task.
Nuts and Bolts
Who do we need to hire and what do they all do?
You will want to start calling in the pros. Most people think when they sell a home themselves that they will do everything themselves — from marketing to closing — and save accordingly! Be ready to bring in some professionals when needed, though. As you weed through the contract and contingencies there will be the “crew” that you will need to call in. The inspector, the surveyor, the insurance agent, the title insurance company, the appraiser , the lender and the list could go on.
While all of these are needed it can be a simple process. This is where the buyer and the seller will need to work together to get these items done. The seller will need to be flexible to allow for buyers people to access the home to do inspections and or repairs. And of course the buyer will need to be courteous of the seller and their time.
The buyer will need to make sure they have a closing checklist so they can schedule their time for lender requirements. And the seller a timeline to close so they can move on.
For all of this to come together smoothly, you will want to choose a local, reputable title insurance company. They will handle the escrow (good faith) deposit and act as a neutral party for funds. They will be very helpful is assisting the seller and buyer in getting to the closing table and keep you informed of what is going on.
Between the buyer and seller finalizing the sale of the house, many things have to happen — some taken care of by the buyer, some by a third party and some by the seller. Make sure you’ve hired a title insurance company to handle your closing for you — someone who will take care of several requirements, such as a survey and title search, as well as provide the proof of a marketable title and deed.
And then we can get to the closing table.
Part III – coming soon!