There’s no way to control the outcome of your sale, but you can take a few steps to build a safety net for your transaction. There are several things that occur after you and the buyer have a signed around contract that could trip things up for you. Know ahead of time what they are and you can mentally and sometimes strategically prepare in advance.
When Is It Sold?
The biggest mistake people make after they accept an offer on their home and sign a contract is to stop advertising and slap up a SOLD sign! Don’t do it. Your home is not sold until you’ve completed the escrow process. Both parties have to sign closing documents AND the buyer’s loan has to have funded. Keep up the advertising and don’t use the “S” word until closing is completed. When your buyer sees you continue to market for back up offers, it’s like holding their feet to the fire. They tend to be the squeaky wheel with their lender and keep pushing their “people” to move their end of the transaction along quickly. Continue reading ‘When is Your Property Really Sold?’ »