THE HOME BUYING & SELLING PROCESS - AN INTRODUCTION

This is the introduction to a series of articles that bind together the actions making up the home buying and selling process. It is presented to help all Buyers and Sellers prepare for the exchange of real property. Increasing your knowledge of these steps will make the transaction go smoother and result in a positive experience.

There are many details that take place with buying or selling a home. Your first experience will likely be the purchase of your first home. It can certainly be intimidating, especially since you will be making a very large financial commitment that could be with you for a major part of your life. Adding to this pressure is all of the smaller decisions and actions that must take place to make the transaction less painful. Since time is of essence, all of this must be completed within a set time frame. These are reasons why many people procrastinate.

You may be selling your home for a variety of reasons. Some of these include work relocation, up-sizing to meet family growth, a desire to improve your lifestyle, a change of environment, or downsizing to meet changes in family or finances. In any case, the selling process can be just as new to you as when you first bought your home. Just because you completed that transaction, you may have forgotten many of the details. Selling a home also carries actions and responsibilities that you don’t have as a buyer.

Despite the differences between Buyers and Sellers, the transaction always requires both a Buyer and a Seller. If you are selling your home, it’s likely that you will also be buying another one. That means you may be involved in two of these transactions at the same time. In all cases, it is beneficial to know the ins and outs of this endeavor.

Below are the common steps involved in a home changing ownership. This series will look at each step and highlight the important issues that must be considered. Whether you are a Buyer or a Seller, it is good to know both sides of this transaction to ensure you are prepared for the outcome.

The Home Buying and Selling Process

1. The Listing (Selling) Agreement
2. The Sale Price
3. The Seller Disclosure
4. Prepare Home For Sale
5. The Buyer Agreement
6. Pre-qualifying The Buyer
7. Showings & Tours
8. The Offer & Contract
9. Inspections & Contingencies
10. The Loan
11. The Title Policy & Survey
12. Closing

Stay tuned as each of these articles are posted.