The Closing Process: What to Expect from Offer to Closing

The negotiations process begins once an offer has been received, but until it has been accepted and agreed to in writing by both parties, the contract is not final. It remains in the negotiations stage unless one party rejects the offer or counteroffer outright.

• If you choose to include an attorney review, there is a limited time for him to protect your interests so it’s imperative that you have him review your contract quickly.
• You must comply with all requests of the buyer’s lender and/or appraiser in a timely manner. You don’t want to do anything to delay the buyer’s final loan approval and the closing.
• A the buyer will schedule a home inspection usually within 10 – 14 days of acceptance of the contract. The buyer typically accompanies the home inspector to the inspection. It’s generally best to allow them to inspect the home without you being present. Allow approximately two to three hours for the inspection.
• The inspector may indicate needed repairs to the home. Your Realtor will work with you to negotiate repairs to be made a part of the purchase contract. You will need to complete the repairs prior to the buyer’s final walk through of your home.
• If a buyer’s walk-through is included in the contract, your Realtor will schedule this. The property must be in the same condition or better than it was when the agreement to the sale was made and all agreed to repairs must be completed at this time.
• Your Realtor will coordinate all activities and update all parties on the process and critical dates from start to finish.

Kate & Tony and their expert team will handle the details and coordinate the process so you can relax and enjoy the experience.

You may be wondering how much money you’ll net from the sale of your New Albany home. We’ve provided a worksheet below to help you arrive at that figure. Just add up your closing costs and subtract them from the sale price of your home. The result is your net proceeds.

What You’ll Net at Closing - Closing Costs for Sellers