SELLERS
Under Contract, Now What?
1.) Sign Purchase & Sales Agreement (P&S):
Justine will update the P&S to reflect the agreed upon contract price & will send for signature via Dotloop.
2.) Escrow Check:
Our office will collect the deposit check/s and deposit them as stated on the contract.
3.) Inspection:
The buyers will schedule their inspections, we will let you know when this is going to occur. Please make sure we know where the septic cover is, if applicable. The inspection could take a couple of hours depending on the size and condition of the home so please prepare to not be home during that time. The buyer may also choose to do a radon test, if they do, windows and doors will need to remain closed for the duration of the test, 48 hours.
4.) Contact Your Attorney:
Please let us know who you’d like to prepare your closing documents. If you would like a recommendation, here are some options we use regularly:
Craig Sampson
5.) Appraisal:
The buyers lender will send an appraiser to the property. We will let you know when this has been scheduled and will attend
6.) Smoke Certificate:
We will need to obtain a smoke/carbon monoxide certificate from the fire department. If you’re not sure if your detectors are installed properly, in the correct locations, and less than 10 years old, we can send our handyman ahead of time. His fee is about $100 plus the cost of any detectors. Inspections usually only take place once a week and often times the fire departments will charge for a re-inspection, so we try to avoid not passing on the first inspection.
7.) Adjustments:
If applicable we will need to get a final water, sewer, and oil/propane reading. Justine will work with you on obtaining these items. We may need a picture of the water meter and you may need to arrange with your oil company to obtain a certificate of the value of the oil in your tank.
8.) Getting to the Closing:
Be mindful, extensions or delays may happen due to the lender or attorneys needing more time, or other issues out of our control. It’s best to be flexible and realize the dates on the contract are guidelines, but may not be the date things actually happen. Keep this in mind when scheduling your move.
9.) Utilities:
Remember to call your utility providers before the closing and take utilities out of your name, other than the water bill which is being handled.
10.) Closing:
As the buyer’s lender finalizes everything, the closing attorney will work on scheduling the closing. This is usually scheduled about a week before the closing. Sellers will typically sign their documents in advance of the closing with their attorney.