THE DEAL IS FIRM, NOW WHAT?
All your hard work has paid off! Your life has been turn upside down for a number of weeks now. You sat on pins and needles waiting for conditions to clear, to hear word back on the Buyer’s financing and how the home inspection went. You might have had your life put on hold as you waited for the Buyer’s own home to sell. Conditions have been fulfilled or waived and the deal is now firm. Your house is SOLD!
What do you do now? Just about every client asks me this question and I tell them all the same to things. You wait. You pack. The big day will be here sooner than you think. But before that day comes, there is a long list of things to accomplish that are necessary to the successful closing of the sale. Fortunately, most of these things are done by professionals behind the scenes, such as lawyers and bankers. While they are working behind the scenes there are obvious things for you to do like arrange movers and pack up your house. (please see my Preparing to Move guide under the Buyers’ tab for tips on making it a great move!)
Perhaps the most important thing that you might have to do at this point if you chose to sell before buying a home, you will have to find your next home. If you have questions about what will happen during the home buying process see my Buyer’s Guide.
Here are few important things to take note of right away:
Your closing date, which is spelled out on the contract. This is the big day to plan around. If you can move out a day or two early to minimize your stress and any conflicts with the buyer’s schedule, that would be ideal!
Access visits – the Buyer (accompanied by their agent) may be entitled to see the house again before closing, at mutually agreeable times. Usually, this final walk through will happen in the last week before closing. Some times their were specific items identified in the home inspection that need to be addressed before closing, and often it is during this walk through that the Buyers will check to see if items have been addressed. The whole thing should take between 20-30 minutes. You’ll have to agree to these dates and times and you can reject them within reason if they conflict with your schedule. I will try to get at least several days’ notice for you. Sometimes this can be a good time, if both you and the Buyers are open to it, for you to walk the Buyer through the house and show them any peculiarities about the house and grounds. Sometimes it is sufficient to leave them a note that gives them information about garbage pickup and mail boxes and the like.
Appraisal – An appointment may be made by the Buyer’s bank or mortgage broker to appraise the home. This is usually a very quick 15-minute interior/exterior walk-through of your home and unfortunately, not a lot of notice is given for these appointments, usually less than 24 hours. I will inform you of their intent to inspect as soon as my office gets the request. Generally there is not a lot of flexibility with the time arrangements of these appointments.
To facilitate the continuing appointments, we can discuss leaving a lockbox on your property for easy entry of approved parties, or I can hang onto a set of keys, or you can arrange to be home for these visits or leave a key in a suitable place like your mailbox just for the specific times someone will be visiting your home.
SERVICE | KNOWLEDGE | RESULTS
Thinking About Selling?
Is Now the Time to Sell?
The Buyer’s Perspective
De-Cluttering and Staging
Selling Your Home
The Importance of Pricing
Marketing Your Home
Home Selling Documents
The Deal Is Firm, Now What?
Your Lawyer’s Role
Getting Ready for the Buyer
After Closing Day
334 Wellington Rd. S
London, Ontario N6C 4P6