Closing Time (And Beyond)

Lancaster county pennsylvania real estate settlementThe “Real Estate Bubble” – it’s a term we’ve all become quite familiar with in the past 5 years, referring to the upward acceleration of home values (in our case, Lancaster county home values) at the time.

In the wake of the real estate bubble bursting, it has become apparent that the majority of buyers and sellers are not exactly sure of what real estate professionals actually do in the transaction process.  There’s often a perception that agents basically put a sign in your yard and wait, perhaps because during the boom that’s all many agents actually did across the nation.

Real estate professionals wear many hats…pricing, marketing, negotiating and consulting (just to name a few).   The reason my slogan is “Celebrating 22 years of guiding people home” is because  once the purchase and sale agreements have been signed, my work for you is far from over.   There are still more steps to close the transaction:

Removing contingencies, such as financing and the sale of the buyer’s current home.   The sale can’t close until these conditions are removed or waived.

Property appraisal.  The buyer’s lender requires a formal appraisal confirming the value of the home, which will be used as collateral to secure the loan.

Preparing the closing documents.  Usually a real estate attorney prepares documents to confirm the transaction, pro-rate funds, etc.

Signing the closing documents.  The sale may take a few more days to close, even after both parties have signed the closing documents and deposited funds.

Recording of the deed and disbursing of funds.

Receiving the proceeds and welcoming the moving van.

Turning the keys over to the buyer.

There are many opportunities for surprises or delays in a real estate transaction.  The more you understand what it is that I do for you in your Lancaster County real estate transaction, the better we can work together.  Part of my work for you is troubleshooting problems that arise in the closing process and with communication, to ensure that you have the best experience possible:)

For more tips and hands-on help with Lancaster County homes and real estate, give me a call at (717) 413-2749.

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~ by bobenglishsellshomes on September 6, 2011.

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