Steps to Close

Contract to close covers every step from purchase to closing and helps buyers and sellers to comply with contractual obligations. Usually, it covers all items including Purchase Contract, Counter offers, Request for repairs, disclosures and inspection reports, as well as escrow documents and tasks.

INITIAL STEPS

Working with Lisa

Luxury marketing services for every home, every time. As a Global Luxury Specialist, Lisa consistently ranks in the  top 1-2 % of over 84,000 Coldwell Banker Agents worldwide..

Timing and Price

You will decide with your agent the pricing and timing of going on the market, as well as the availability of the home for showings. Here, along with the negotiating process, is where you will benefit most from working with a professional Realtor®.

First Impressions

Few people have time to take on a “project” home. Simple maintenance such as repairing windows and latches, cleaning and decluttering and adding a fresh coat of neutral paint go a long way toward reducing the mental list of “things to do” in a potential buyer’s head. Same goes for the yard – curb appeal is for real. Plant some flowers!

Disclosures and Inspections

The State of Tennessee requires a thorough disclosure statement that is beneficial to both you and the buyer. Our team will provide documents, as well as suggest key home improvement measures (such as termite and pest inspections) and staging before placing your property on the market.

ACCEPT AN OFFER

Once an offer is ratified, the home seller and buyer will agree upon the amount for the good faith deposit which is held in an escrow account. This reflects the buyer’s intention to purchase your property and ensures that no funds or property will change hands until all instructions in the transaction are followed.

ESCROW, INSPECTIONS, & APPRAISAL

Your escrow began when you accepted a buyer’s purchase offer and earnest money deposit. What follows is the inspection and appraisal of your home and the loan origination process.

The Title Company

Both the buyer and seller can use their own closing (title) company. It is the title company’s job to examine and insure title to real estate. After researching the complete recorded history of your property, they’ll certify that:

1

your title is free and clear of encumbrances (eg. mortgages, leases, or restrictions) by the date of closing

2

all new encumbrances are duly included in the title. They’ll draw up a preliminary report at the end of the process

Contingencies

A contingency is a condition that must be met before a contract becomes legally binding. For instance, a home buyer will usually include a contingency stating that their contract is binding only when there is a satisfactory home inspection report from a qualified inspector.

Before completing his or her purchase, the home buyer goes over every aspect of the property as provided for by purchase agreements. These include:

Depending on the outcome of these inspections, one of two things may happen:

1

Either each milestone is successfully closed and the contingencies will be removed, bringing you one step closer to the close, or

2

The buyer, after reviewing the property and the papers, requests a renegotiation of the terms of contract (usually the price).
Responding objectively and fairly to the buyer when a renegotiation is demanded is one time when a professional listing agent can make a real difference in the outcome of the transaction.

Loan Approval and Appraisal

Expect an appraiser from the lender’s company to review your property and verify that the sales price is appropriate. Many buyers will be pre-qualified or have a lender’s pre-approval letter, which is a better guarantee of loan approval than a pre-qualification.

CLOSING

If you’ve come this far, it means only one thing—congratulations, you’ve successfully sold your home! Expect to tie up these loose ends:
The final inspection takes place a few days before or the day of closing. It may seem more like a formality at this point, but the buyer needs to visit your property to verify that all is in working order. You’ll be signing the papers certifying that the property was sold in satisfactory condition.
While the new owners are responsible for starting utilities in their name, you must cancel services – they are not allowed to cancel for you. The transfer of services is usually set for the date of possession.
We are ready to assist you should an unforeseen glitch pop up, even at this last stage – an appliance at the house breaks down, the buyers’ loan doesn’t come through on time—no need to worry. We’ve encountered these problems before so we know how to handle them efficiently.
The title company furnishes the principals with a closing statement which summarizes all the financial transactions enacted in the process. A few days before the set closing date, you’ll sign the final documents for the title company. They’ll record the transaction for you and the buyer at the County Recorder’s Office. You’ll then receive your proceeds, and the buyer will become the new owner.

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BUYING YOUR NEXT HOME

Now that the transaction on your home is well on its way to a successful close, it’s time to start preparing for your next home. As your trusted real estate partner, we are ready to help you articulate and prioritize your goals for this next step. We’ll get you off to a good start by finding the best interim arrangement for you while you’re in between homes, or if you’re ready, we’ll help you find your next dream home.

PROPERTY SEARCH MADE SIMPLE

The Nashville area is a hub of counties, cities, and towns. We have provided the Home Search menu which will take you to each of the labeled areas where you can search by price; or use the Advanced Search to view all homes for sale in the community you want to live in! You have the ability to save your searches and send them to friends. Let’s find your dream home together!

SEARCH FOR HOMES

Westhaven

Franklin

Franklin Cool Springs 37067

Franklin South 37064

Franklin North 37069

Brentwood

Leiper's Fork

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Land

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